Mutual Benefit Fund

Mutual Benefit Fund

 

in the USSR, a voluntary organization of trade union members organized to render mutual fraternal financial aid.

The mutual benefit fund is organized by the trade union committee if the given enterprise (institution or educational institution) has at least 15 trade union members who want to join. The mutual benefit fund must be registered with the higher trade union body: the trade union council or the republic (krai, oblast, raion, city) committee. The fund conducts business according to a charter and is a legal person. A standard charter for the mutual benefit fund of a trade union committee was approved by the decision of the All-Union Central Council of Trade Unions of Feb. 20, 1959. Every trade union member working in the given enterprise or institution or studying in the educational institution may join the mutual benefit fund. He must pay an entrance fee of 0.5 percent of his monthly wages or scholarship; this is also the amount of the monthly membership dues. A member who has paid his dues for 50 months is released at his request from further payments of membership dues and receives priority when applying for a loan. A member who withdraws from the mutual benefit fund is paid back all his membership dues.

The bodies of the mutual benefit fund are the general assembly (conference) of members of the fund and the board, elected at the general assembly of the mutual benefit fund by open vote for one year. In enterprises or institutions where the membership of the mutual benefit fund reaches 300 union members or more and where each workshop or department has at least 25 members of the fund, branch offices of the mutual benefit fund are established. The general assembly of the fund elects an auditing commission for a one-year term. This body makes an inspection at least twice a year, reviews the activity of the board whenever the chairman of the board, the cashier, or the accountant is replaced, makes a monthly verification of the cash on hand, and makes unannounced inspections.

By the decision of the board or the branch office of the mutual benefit fund, the fund issues long-term and short-term loans and in some cases issues free grants. The funds for these purposes are created by the entrance fees and membership dues, interest on loans, and grants from the trade union budget. Arrears on loans are recovered through certification of a judgment by a notary public office without the right of appeal or through a raion (city) people’s court.

A. L. EPSHTEIN

References in periodicals archive ?
Betita also received incentives from the PNP through Marlo Magpantay of the Public Safety Mutual Benefit Fund Inc.
Before their appointment to the DILG, Florece served as the vice president and board director of the Public Safety Mutual Benefit Fund Inc.
Bocaig was part of Oplan Exodus in Mamasapano that resulted in the killing of Malaysian bomb expert Zulkifli bin Hir, alias Marwan, and 44 Special Action Force commandos in 2015.Chief Superintendent Edward Carranza, chief of the Cordillera police, said the PNP gave an initial financial assistance to the families of Bocaig and Kitoyan.br"The PSMBFIwill release the initial assistance on Monday, both for the deceased and injured victims," Chief Inspector Carolina Lacuata, spokesperson for the Cordillera police, said, referring to the Police Safety Mutual Benefit Fund Inc.
Each of their families received P71,000 from their Public Safety Mutual Benefit Fund, while the three other police officers were each given P20,000 in financial assistance.
Meanwhile, the families of the slain policemen - PO2 Frenzel Kitoyan and SAF member POR Carlos Bocaig - received cash assistance from the Public Safety Mutual Benefit Fund, Inc.
Duterte and a P250,000 check that was part of a P500,000 assistance from the Office of the President and P180,688 from the Public Safety Mutual Benefit Fund Inc.
When Oliver was confined, his insurance claim was denied by the Public Safety Mutual Benefit Fund Inc., he said.
The NPTI said it had asked the Public Safety Mutual Benefit Fund Inc.
The families also received insurance claims from the Public Safety Mutual Benefit Fund Inc.
This included P250,000 for each family from the President's Social Fund, P7.6 million from the PNP Special Financial Assistance, P9.6 million in commutation of accumulated leaves, P14.4 million burial and gratuity assistance from the National Police Commission (Napolcom), P1.1 million from the back earned pension of the Napolcom and P24.5 million from the independent Public Safety Mutual Benefit Fund Inc.
Other individual lumpsum benefits received by each of the families include an average P26,062.79 in back-earned pension from the PNP; an average of P65,759.80 in Burial Benefits from the Napolcom; average of P263,039.18 Napolcom Gratuity, an average of P38,222.36 back-earned pension from Napolcom and an average of P557,677.12 insurance benefits from the Public Safety Mutual Benefit Fund Inc.
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