Objective

The Fund is set up to provide aid to the next of kin on the death of Union Members participating in the Fund.

Membership 

Membership is open to all NUTP members within a period of six months of becoming members of the Union with a one-off fee of RM10.00 which is deposited to the capital fund.

Any member of the Union shall not be entitled to any benefits if he/she ceases to be a member of the Union or having arrears of Union subscription for more than 4 months.

Management

The management of the Fund shall be vested in the Executive Council of the Union. All correspondence concerning the Fund are conducted by the Secretary General, while financial matters are conducted by the Treasurer General.

Any changes/amendments in the management of the Fund are subjected to the decision made at the Triennial Delegates Conference.

Distribution Of Benefits    

The death benefit payment functions together with the Capital Fund and payment will be made according to the following formula : (subject to amendment)

Death Benefit Fund Rate Payment

With effect from 1 November 2010

 

Subject Amount
6 month - 1 year  RM300
More than 1 year - 5 years  RM1,500
More than 5 years - 10 years  RM2,000
More than 10 years - 15 years  RM2,500
More than 15 years - 20 years RM3,000
More than 20 years RM3,500