The funds are governed by the General Rules and an, employer specific, set of Special Rules. The trustees decide on the General Rules, which say how the fund must operate and they also give a structure for all the activities of the fund.
The General Rules, and subsequent amendments, of the Unicover Pension Fund and the Unicover Provident Fund are included below for your ease of reference:
The Unicover Pension Fund – General Rules
The Unicover Pension Fund - Rule Amendment 1
The Unicover Pension Fund - Rule Amendment 2
The Unicover Pension Fund - Rule Amendment 3
The Unicover Pension Fund - Rule Amendment 4
The Unicover Pension Fund - Rule Amendment 5
The Unicover Pension Fund - Rule Amendment 6
The Unicover Pension Fund - Rule Amendment 7
The Unicover Pension Fund - Rule Amendment 8
The Unicover Pension Fund - Rule Amendment 9
The Unicover Pension Fund - Rule Amendment 10
The Unicover Pension Fund - Rule Amendment 11
The Unicover Pension Fund - Rule Amendment 12
The Unicover Provident Fund – General Rules
The Unicover Provident Fund – Rule Amendment 1
The Unicover Provident Fund – Rule Amendment 2
The Unicover Provident Fund – Rule Amendment 3
The Unicover Provident Fund – Rule Amendment 4
The Unicover Provident Fund – Rule Amendment 5
The Unicover Provident Fund - Rule Amendment 6
The Unicover Provident Fund - Rule Amendment 7
The Unicover Provident Fund - Rule Amendment 8
The Unicover Provident Fund - Rule Amendment 9
The Unicover Provident Fund - Rule Amendment 10
The Unicover Provident Fund - Rule Amendment 11
The Unicover Provident Fund - Rule Amendment 12
The Special Rules elaborate on the provisions of the General Rules and set out the provisions specific to an employer participating in the fund.
Each Participating Employer will have their own unique set of Special Rules tailored specifically to their requirements and will, for example, provide for –
1.1 criteria by which it will be determined which of the employer’s employees will be and remain members of the fund in terms of their contracts of employment and/or any collective agreement binding on them;
1.2 the rates at which those employees and the employer must contribute to the fund;
1.3 the benefits that will be payable upon the permanent disablement or death before retirement (‘risk benefits’);
1.4 the deduction from the employer’s contributions to the fund of –
1.4.1 a share of the fund’s administration costs and other specified costs, if applicable;
1.4.2 if applicable, the amounts of premiums payable by the fund to the insurer which underwrites the fund’s liabilities in respect of those risk benefits;
1.5 the choices, if any, to be given to the members in regard to the investment of the balance thereafter remaining of those contributions;
1.6 the retirement age of each member or each member within a category of members employed by the employer for the purposes of the rules;