Information about
ABB:n vakuutuskassa
Presentation of ABB:n vakuutuskassa
ABB:n vakuutuskassa is an insurance fund founded on 1 December 1944. The fund was first called Strömbergin avustuskassa, but in 1964 the name was changed to Strömbergin sairauskassa following an amendment to the Health Insurance Act. From 1995 onwards, the name of the fund was Strömbergin vakuutuskassa, and on 13 September 2000 the name was changed to ABB:n vakuutuskassa.
The fund acts as an employer’s fund under the Health Insurance Act and thus manages the benefits of its insured members under the Act. These benefits include medical expenses, sickness allowances and parental allowances.
The fund also pays additional benefits to its members in accordance with its rules.
The fund supports its members’ ability to work and provides financial security in case of illness.
The members’ own
Kela office
The insurance fund acts as an employer’s fund under the Health Insurance Act, so it manages all matters pertaining to the Health Insurance Act for its insured members.
Benefits under the Health Insurance Act include medical expenses, sickness allowances and parental allowances.
Medical expenses eligible for reimbursement include the costs of medicines, doctors’ fees, laboratory tests, radiological examinations, dental examinations, magnetic resonance imaging and related travel expenses, among others.
The members’ own insurance policy
The insurance fund provides additional benefits mainly to cover the costs of illness and leisure accidents for its insured members. The fund aims to cover all or part of the necessary expenses incurred by its members as a result of illness.
The additional benefit is paid in addition to the Kela reimbursement for medicines, doctors’ fees, laboratory tests, radiological examinations, physiotherapy, magnetic resonance imaging and dental care. The additional benefit is also paid for spectacles, hospital and health centre fees, outpatient clinic fees and optician’s fees for eye examinations, among other things.
Management of the insurance fund
Assembly
The highest decision-making power in the affairs of the fund is vested in the Assembly, which acts as the fund meeting. The Assembly is attended by representatives of the insured members and the employer. The fund holds one ordinary Assembly meeting, which takes place in April at the latest.
Assembly representatives are elected in accordance with section 34 of the fund’s rules.
Board of Directors
The insurance fund has a Board of Directors consisting of eight full members and their personal deputies. Half of the Board of Directors’ members represent the employer. The members of the Board of Directors serve for a term of two years. The Board of Directors is elected by the Assembly.
CEO
The CEO manages the day-to-day administration of the fund in accordance with the instructions given by the Board of Directors.
Chairperson of the board:
Mika Sui
mika.sui@fi.abb.com
CEO:
Ulla Viitanen
ulla.viitanen@fi.abb.com
ABB:n vakuutuskassa –
supports your ability to work and provides financial
security
in case of illness
Fund rules
GENERAL PROVISIONS
1 The name of the insurance fund is ABB:n vakuutuskassa.
The fund’s domicile is Vaasa.
2 The purpose of the fund is to provide benefits under the Health Insurance Act and additional benefits under these rules. The fund acts as an employer’s fund as defined in the Health Insurance Act (1224/2004).
In addition to these rules, the fund’s activities are governed by the Act on Company and Industry-wide Pension Funds (946/2021) and the Insurance Fund Act (948/2021).
In addition to these rules, the fund’s activities are governed by the Act on Company and Industry-wide Pension Funds (946/2021) and the Insurance Fund Act (948/2021). The fund’s activities under the Health Insurance Act are supervised by Kela, the Social Insurance Institution of Finland.
3 The fund must have at least 300 members.
SCOPE AND INSURANCE RELATIONSHIP
4 The fund’s scope of activity comprises the employees of the employer ABB Oy (0763403-3), excluding its salaried employees, and the salaried employees of this insurance fund.
In these rules, the employer is referred to as the partner company.
To be included in the scope of activity, a person must receive their main livelihood from the partner company.
A person who is insured with another sickness or insurance fund is ineligible.
In addition to this, people whose employment is intended to be temporary are not covered. Temporary employment is defined as an employment relationship with a duration of five months or less.
Everyone within the scope of the fund’s activities is insured by the fund, and the insurance relationship is compulsory.
The fund’s Board of Directors confirms that the conditions of the insurance relationship have been met.
At the start of the insurance relationship, the members receive the rules of the fund by either post or email.
Insured members are informed of these rules and any changes to them on the insurance fund’s website and the partner company’s Inside website.
WITHDRAWAL AND DISMISSAL FROM THE FUND
5 An insured member withdraws from the fund when they cease to be within its scope. Insured members cannot be dismissed from the fund.
6 The partner company withdraws from the fund by giving written notice of withdrawal to the fund at least six months before the withdrawal date. The partner company cannot be dismissed from the fund
7 A member or partner company who withdraws from the fund is not entitled to any share of the fund’s assets.
INSURANCE PREMIUMS
8 The premium paid by the insured members is 1.4% of the wages received by them from the partner company and the insurance fund under the Tax Prepayment Act (1118/1996). Members receiving a partial disability pension or part-time pension are also charged a premium of 1.4% of their pension.
On application, the fund may exempt a member from the obligation to pay the premium for the duration of a long-term stay abroad. During the exemption period, the member is not entitled to the fund’s additional benefits.
The partner company pays an annual contribution to the fund. The amount of the contribution is confirmed by the partner company in December of the previous year, based on the number of members on 1 January of the new year.
9 The partner company and insurance fund withhold the premium from the member’s wages upon payment of the wages. The premiums are paid to the fund at least once a month. The partner company pays its contribution to the fund once a year, by 31 March at the latest.
10 If the financial situation of the fund so requires, the board of the fund may reduce or increase the premiums by up to 25%.
Changing the premiums for a duration of more than six months requires a rule change.
Changes to the fees must be approved by the partner company before they are made.
ACTIVITIES UNDER THE HEALTH INSURANCE ACT
11 In accordance with the provisions of the Health Insurance Act and the regulations issued under it,
the insured members are entitled to the following:
1) reimbursement of the expenses arising from the necessary medical treatment of an illness;
2) daily allowance for a period of inability to work due to illness;
3) reimbursement of the necessary expenses incurred as a result of pregnancy and childbirth;
4) maternity, paternity, parental and special maternity allowances;
5) special care allowance;
6) daily allowance as defined in section 18 of the Act on the Medical Use of Human Organs, Tissues and Cells (101/2001).
12 The benefits under the Health Insurance Act, their amounts and restrictions, commencement and expiry of the insurance, claiming and payment of benefits, appeals and tasks related to activities in accordance with the Health Insurance Act are defined by the Health Insurance Act and the provisions and regulations based on it.
13 The fund is entitled to obtain from Kela’s National Health Insurance Fund the assets required for the payment of the benefits defined in the Health Insurance Act and a compensation for its administrative expenses as regulated in the Health Insurance Act and the Government Decree (1335/2004) on the implementation of the Health Insurance Act.
ADDITIONAL BENEFITS
14 The fund reimburses the costs of necessary treatment for an insured member who needs the services of a doctor, dentist or other suitably qualified person to promote and maintain their health, treat an illness or as a result of pregnancy and childbirth. Costs are reimbursed for the amount that the treatment would have cost, avoiding any unnecessary costs.
Before the additional benefit is paid, the amount payable under the Health Insurance Act (or other legislation) is deducted from it. Similarly, if an insured member is entitled to compensation under the legislation of a country other than Finland, such compensation may, at the discretion of the board, be taken into account, in whole or in part, in determining the reimbursement payable by the fund.
ELIGIBLE EXPENSES
1. Doctor’s fees
1.1. Fees for doctor’s appointments where the appointment is also reimbursable under the Health Insurance Act, with the limitation that only 80% of a specialist’s fee is reimbursed. Dentist’s fees are reimbursed in accordance with section 9.
1.2. Surgery or similar medical procedures performed in a private medical facility are reimbursed at 80%. The maximum amount of the reimbursement is €3,000 per calendar year per insured member.
2. Public healthcare
2.1. Non-dental fees charged for outpatient medical services at a health centre, hospital outpatient clinic fees and fees for day surgery, up to the maximum amounts specified in Decree (912/1992) on client charges in healthcare and social welfare.
2.2. The daily inpatient fees of hospitals and health centres up to the maximum amount of a daily fee for short-term care provided in a non-psychiatric unit of a central hospital.
3. Private healthcare examinations and treatment
3.1. The total fee of a private medical facility up to a maximum of €800 per treatment session, unless the treatment is otherwise reimbursable under sections 1–9.
3.2. Laboratory tests and pathological examinations prescribed by a doctor, including related sampling and phototherapy. The maximum amount of the reimbursement is €3,000 per calendar year per insured member.
3.3. 80% of magnetic resonance imaging and other radiological examinations prescribed by a doctor. The maximum amount of the reimbursement is €3,000 per calendar year per insured member.
4. Medicines
4.1. 90% of the cost of medicines other than those reimbursed under the Health Insurance Act if the board considers it reasonable in an individual case to agree to full or partial reimbursement. The reimbursement is calculated on the basis of the price (reference price) from which the reimbursement under the Health Insurance Act is calculated.
4.2. 90% of the cost of medicines other than those reimbursed under the Health Insurance Act if the board considers it reasonable in an individual case to agree to full or partial reimbursement.
4.3. The annual initial deductible for medicines under the Health Insurance Act is not reimbursed.
5. Physiotherapy
5.1. 80% of the cost of physiotherapy and physiotherapeutic examinations prescribed by a doctor.
6. Massage
6.1. 80% of the cost of massage services prescribed by a doctor, up to a maximum of 10 sessions per calendar year.
7. Assistive products
7.1. The cost of support bandages, compression stockings, support braces, leg and foot supports and mouthguards prescribed by a doctor up to a maximum of €101 per product in cases where these cannot be permanently or temporarily obtained free of charge, and with the fund’s liability limited to the amount from which any other reimbursements or discounts have been deducted.
7.2. With a doctor’s referral, up to €150 towards the rent or purchase of a CPAP device for sleep apnoea or the cost of a temporary sleep mask during the initial phase of treatment until a device is available from a public healthcare unit.
8. Spectacles
8.1. After one year of membership, a single pair of spectacles or boxes of contact lenses as a one-time purchase, or vision correction surgery. The maximum amount of the reimbursement is €300 per claim every three calendar years. The reimbursement is conditional on the spectacles or contact lenses being optically corrective.
8.2. The fee charged by an optician for an eye examination is reimbursed in full.
9. Dental care
9.1. A person who has been a member of the fund for at least one year is reimbursed the fee or charge for treatment provided by a dentist, specialist dental technician or oral hygienist. Such treatments also include dental examinations, orthodontics, prosthodontic procedures and dental technician work. An additional benefit of up to €250 is paid for the cost of the treatment provided in each calendar year.
9.2. A person who has been a member of the fund for at least five years is reimbursed up to €337 for prosthodontic treatment by a dentist or a specialist dental technician every five years.
9.3. A dentist’s fee if the treatment is necessary to treat a condition other than a dental disease.
10. Psychotherapy and short-term psychotherapy
10.1. 50% of the copayment for rehabilitative psychotherapy reimbursed by Kela for the sessions reimbursed by Kela.
10.2. 80% of the cost of short-term psychotherapy prescribed by an occupational health doctor, up to a maximum of five sessions and €800 per calendar year.
CONDITIONS FOR RECEIVING ADDITIONAL BENEFITS
15 Reimbursement under these rules is conditional on 1. the examination or treatment being carried out by a doctor or other person with appropriate professional training who is registered in the central registers of social welfare and healthcare professionals of the National Supervisory Authority for Welfare and Health (Valvira) or 2. the examination or treatment carried out in private healthcare taking place in a private healthcare unit within the meaning of the Private Healthcare Act (152/1990). Treatments and examinations are considered necessary when they are in accordance with generally accepted good medical practice in the treatment of illness or the promotion and maintenance of health. A doctor’s prescription must be obtained before the reimbursable activity. A prescription entitles the insured person to reimbursement for one year from its issue. A maximum of 15 examinations or treatments can be reimbursed per prescription if the examination or treatment is carried out within one year of the date of issue of the prescription. Medicines, foods for special medical purposes and base creams are reimbursed in quantities corresponding to a maximum of three months of treatment at a time. Treatment abroad is reimbursed up to the amount that equal treatment in Finland would have cost. Travel expenses are not reimbursed. The additional benefits with a maximum annual amount under the rules may be adjusted by a decision of the Assembly in line with the cost-of-living index.
16 Funeral allowance
In the event of the death of an insured member, €1,000 is paid as a funeral allowance.
If the member was married or living with an unmarried partner in the same household at the time of their death, the funeral allowance is paid to the spouse or partner. Otherwise, the funeral allowance is paid to the member’s children, or if there are none, the member’s parents, or if neither of them is alive, to the estate. If the funeral arrangements are not handled by the beneficiary, up to the actual costs of the funeral may first be paid from the allowance to the person who has taken care of the arrangements.
The provision on marriage and spouse in paragraph 2 also applies to a registered partnership and registered partners as referred to in the Act on Registered Partnerships (950/2001).
17 Retirement allowance
A retirement allowance is paid to a member, on the grounds set out in paragraph 2 of this section, who withdraws from the fund upon the start of their old-age pension or, after reaching the age of 58, indefinite disability pension or partial early old-age pension and completely withdraws from working life.
The retirement allowance is paid to a member who has been a member of the fund for at least 15 years in one or more instalments. The amount of the retirement allowance is €1,200. For a member who has retired from part-time work, the amount of the retirement allowance is determined in proportion to the part-time work from the full allowance.
The retirement allowance is no longer available to those who become members of the fund after 1 January 2014.
18 The benefits defined above in sections 14–17 are paid by the fund only to the extent that they exceed the corresponding benefits under the Health Insurance Act. If the member is entitled to compensation under a Finnish law other than the Health Insurance Act, the reimbursement shall be paid only to the extent that it exceeds the reimbursement payable under the law. Similarly, if an insured member is entitled to compensation under the legislation of a country other than Finland, such compensation may, at the discretion of the board, be taken into account, in whole or in part, in determining the reimbursement payable by the fund.
19 The fund’s responsibility concerning additional benefits begins with the commencement of the insurance relationship and ends with the termination of the relationship. The fund only reimburses expenses incurred during the insurance relationship.
The expense is considered to be incurred when the treatment or examination is carried out. When considering the annual maximum amounts of reimbursement, the basis for reimbursement is determined by the time of treatment, regardless of when the cost was paid.
RESTRICTIONS CONCERNING ADDITIONAL BENEFITS
20 If a member falls ill while absent from work because of a work stoppage, furlough due to lack of work or any reason other than sickness or childbirth, and does not receive pay during this period, they shall not receive the additional benefits provided for in section 14 of these rules for the period in question. Additional benefits are also not payable during an exemption period under section 8.
21 For additional benefits, the fund is not liable to a member or other beneficiary who has wilfully caused an insured event.
If a member or other beneficiary has caused an insured event through gross negligence, the additional benefit to which they are entitled may be refused or reduced or the payment of a benefit already granted may be discontinued, insofar as it is reasonable under the circumstances.
The same applies if the insured person has deliberately prevented their recovery or has refused, without acceptable reason, to submit to an examination or treatment prescribed by a doctor designated by the fund, except in the case of a procedure that poses a serious risk to health. Before refusing or reducing a benefit or discontinuing the payment of a benefit granted, the member or other beneficiary must be heard and the conduct of the member or other beneficiary and the amount of the benefit paid must be taken into account.
22 The Board of Directors shall have the right to determine which doctor or person with appropriate professional training referred to in section 15, paragraph 1 or which medical or research institution or pharmacy shall be used in the case of treatment reimbursed as an additional benefit under these rules. The insured person is obliged, by order of the fund’s Board of Directors and at the fund’s expense, to visit a doctor or medical or research institution designated by the Board of Directors for an examination to assess the claim.
The insured person is obliged, by order of the fund’s Board of Directors and at the fund’s expense, to visit a doctor or medical or research institution designated by the Board of Directors for an examination to assess the claim.
If the insured person does not comply with the provisions of paragraphs 1 or 2, compensation may be refused in full or in part.
CLAIMING AND PAYMENT OF ADDITIONAL BENEFITS
23 Additional benefits under these rules must be claimed in writing. The claim must be accompanied by any supporting documents deemed necessary.
Additional benefits must be claimed within six months of the date on which the payment for which reimbursement is claimed is made. Funeral and retirement allowances must be claimed within one year of the date on which the right to receive the benefit arises. The claim must be accompanied by any supporting documents deemed necessary.
Benefit claims must be processed as urgent. The provisions of chapter 6, section 8 of the Insurance Fund Act apply to the delayed payment of benefits.
24 The reimbursement under section 14 of these rules may be paid in full if the reimbursement under the Health Insurance Act or other legislation is delayed for reasons beyond the control of the insured person and the insured person undertakes to repay to the fund the portion of the amount of the reimbursement received under the legislation corresponding to the reimbursement made by the fund.
25 The reimbursement under section 14 of these rules may be paid in full if the reimbursement under the Health Insurance Act or other legislation is delayed for reasons beyond the control of the insured person and the insured person undertakes to repay to the fund the portion of the amount of the reimbursement received under the legislation corresponding to the reimbursement made by the fund. The recovery of an unduly paid additional benefit must be carried out in accordance with good debt collection practice.
Recovery may be waived in full or in part if this is considered reasonable and the undue payment is not the result of fraudulent conduct by the insured person or other beneficiary or if the amount unduly paid is insignificant.
The amount to be recovered may be set off against any future additional benefits paid by the fund if the insured person or other beneficiary agrees to this.
APPEAL AGAINST A DECISION ON ADDITIONAL BENEFITS
26 If a member is dissatisfied with the fund’s decision on additional benefits, they can ask the Finnish Financial Ombudsman Bureau (FINE) to recommend a settlement. The request for a settlement recommendation must be submitted to the fund or FINE within 30 days of the insured member being informed of the decision. The amount to be recovered may be set off against any future additional benefits paid by the fund if the insured person or other beneficiary agrees to this.
If a member is dissatisfied with an additional benefit decision, they can also take the matter to court. The action must be brought within three years of the date on which the person who is dissatisfied with the benefit decision received written notification of the fund’s decision and the three-year time limit.
The court is the general lower court of the fund’s domicile, i.e. the District Court of Ostrobothnia. The action may also be heard by the district court in whose jurisdiction the claimant has their domicile or habitual residence.
EQUITY RESERVES
27 The fund has a legal reserve and a contingency reserve.
The legal reserve must be increased annually by at least 20 per cent of the surplus recorded in the financial statements, less the deficit recorded in the balance sheet for previous financial years.
When the legal reserve is at least equal to the average premium income for the current and two previous financial years, the transfer to the reserve is no longer compulsory.
The legal reserve may be reduced in accordance with a decision of the Assembly only to cover any deficit recorded in the adopted balance sheet.
Notwithstanding the provisions of paragraph 4, the Financial Supervisory Authority may, upon application, authorise the fund to reduce its legal reserve for exceptional reasons, but not, as a general rule, below the amount of the full legal reserve.
28 The part of the surplus that is not transferred to the legal reserve must be transferred to the contingency reserve.
The contingency reserve may be used for the following purposes:
1) to primarily cover a deficit recognised in the balance sheet;
2) at the discretion of the Board of Directors to increase the additional benefits provided for in the fund’s rules, in accordance with a plan approved by the Board of Directors for a maximum period of one year.
If the contingency reserve has become so large that it exceeds the full legal reserve by more than 50%, the fund must take measures to either increase the additional benefits provided for in these rules or reduce the premiums.
TECHNICAL PROVISIONS
29 The fund’s technical provisions consist of a provision for outstanding claims and other amounts payable as a result of insurance events.
The provision for outstanding claims is calculated in the financial statements according to the calculation principles laid down by the Financial Supervisory Authority.
FINANCIAL STATEMENTS
30 The fund’s financial year is the calendar year.
For each financial year, financial statements must be drawn up in accordance with Decree 1196/2021 of the Ministry of Social Affairs and Health and the regulations issued by the Financial Supervisory Authority, comprising a profit and loss account and a balance sheet with notes. The financial statements must be accompanied by a Board of Directors’ report. The financial statements and the report of the Board of Directors must be submitted to the auditors at least one month before the ordinary meeting of the Assembly.
31 If the contingency reserve is insufficient to cover the fund’s deficit, the legal reserve will be used for this purpose. The fund is not subject to the additional contribution obligation referred to in chapter 4, section 12 of the Insurance Fund Act.
AUDIT
32 The fund has one auditor elected for one calendar year at a time. The auditor can be a natural person or an approved audit firm.
If the auditor is a natural person, a deputy auditor must also be elected. If the auditor is an audit firm, no deputy auditor is elected. The auditor and deputy auditor must be auditors within the meaning of the Auditing Act (1141/2015).
The auditor or auditors are elected by the Assembly. No person over the age of 70 may be elected as auditor.
ASSEMBLY
33 The highest decision-making power in the affairs of the fund is vested in the Assembly, which acts as the fund meeting.
The Assembly’s term of office is one year.
The meeting of the Assembly must be held in the fund’s domicile. The meeting may also be attended by post, telecommunication or other technical means.
34 By 20 February, the insured members shall elect one Assembly representative for each 200 insured members referred to in section 35 for the following term, based on the number of insured members on the last day of the previous year.
However, at least 10 representatives and personal deputies are always elected to the Assembly. Only insured members of the fund may stand as candidates in the election. the Board of Directors may not be elected to the Assembly.
Insured members or deputies attending a meeting of the Assembly are paid a meeting fee, the amount of which is proposed by the Board of Directors and decided on by the Assembly.
Each representative has one vote at the Assembly meeting. A member of the Assembly may not be represented at a meeting by proxy. A member of the Assembly may use an assistant. The use of an assistant must be announced in advance.
The Assembly’s term of office begins on the first day of March and ends at the end of February of the calendar year following the year of election.
The number of votes the partner company represents at the meeting is equal to the total number of votes of the insured members represented at the meeting. The partner company’s representatives must present a dated special power of attorney.
At the meeting, the partner companies’ total number of votes is divided among the partner companies in proportion to the number of insured members in their service at the end of the previous year.
35 For the election of the Assembly representatives, the Board of Directors divides the insured members into the Helsinki and Vaasa districts. By the end of January, the Board of Directors shall determine the time and place of the election meeting by district, the people responsible for its organisation and the number of representatives elected to the Assembly by district.
If the number of insured members in the districts does not result in at least 10 members being elected to the Assembly, the Board of Directors shall appoint the first additional representative to be elected from the district in which the number of insured members divided by 200 results in a larger remainder. By the end of January, the Board of Directors shall determine the time and place of the election meeting by district, the people responsible for its organisation and the number of representatives elected to the Assembly by district.
The Board of Directors convenes the election meeting by announcing it on the partner company’s notice boards located in the district and the fund’s website at least one week before the meeting. At the election meeting, each fund member in the district concerned has one vote. Voting rights may not be exercised by proxy. Voting rights may be exercised through an assistant.
Those who receive the most votes are elected to the Assembly. The personal deputies are elected from among the candidates with the highest number of votes, in the order of their number of votes. In the event of a tie, the election is decided by lot.
Minutes of the election meeting must be kept, indicating the members present and the result of the election. The minutes must be checked and signed by the chairperson of the meeting and at least one of the fund’s members elected for that purpose at the meeting. The minutes must be presented to the fund’s Board of Directors by the end of February.
36 The fund holds one ordinary Assembly meeting annually, which takes place in April at the latest.
The ordinary meeting of the Assembly includes the following:
1) presentation of the financial statements and auditor’s report;
2) decision on the adoption of the financial statements;
3) decision to use the surplus or cover the deficit;
4) decision on the discharge of the CEO and members of the Board of Directors from liability;
5) decisions on any other measures that may arise from the previous year’s activities and financial statements;
6) determination of the remuneration paid to the members of the Assembly, the chairperson and other members of the Board of Directors and the auditors;
7) election of the necessary members and deputies to replace the members and deputies of the Board of Directors who are stepping down;
8) election of the auditors and any necessary deputy auditors;
9) presentation of the Board of Directors’ report on the state of the fund; and
10) discussion of any other matters specified in the notice of meeting.
37 An extraordinary meeting of the Assembly must be held whenever the Board of Directors deems it necessary.
An extraordinary meeting of the Assembly must be held whenever the Board of Directors deems it necessary. An extraordinary meeting of the Assembly must also be held if it is requested in writing by a group of people entitled to vote at an Assembly meeting and holding at least one-tenth of the total number of votes, the Financial Supervisory Authority or the fund’s auditor, in order to deal with a matter specified by them.
The notice of meeting must be issued within 14 days of the request referred to in paragraph 2.
38 An insured member or partner company has the right to put any matter they wish on the agenda of a meeting of the Assembly. This must be requested from the Board of Directors in writing in sufficient time to be included in the notice of meeting.
39 The notice of a meeting of the Assembly must be given no earlier than four weeks and no later than one week before the meeting. If the decision on a matter discussed at a meeting of the Assembly is postponed to a subsequent meeting, a separate notice must be given if the meeting is to be held later than within four weeks.
The notice of a meeting of the Assembly must be sent by post or email to the members of the Assembly and the partner company. Other information is published on the fund’s website. Notice of an extraordinary meeting of the Assembly must be given within two weeks of the request referred to in section 37, paragraph 2 of the rules.
40 The notice of a meeting of the Assembly must specify the time and place of the meeting and the matters to be discussed at the meeting. If an amendment to the rules is to be discussed at the meeting, the main content of the amendment must be stated in the notice.
When the financial statements are to be discussed at a meeting of the Assembly, the documents relating to the financial statements, or copies thereof, must be kept available for at least one week before the meeting at the fund’s office for inspection by those entitled to vote at the Assembly meeting. The same applies when a meeting of the Assembly is to consider an amendment to the fund’s rules. The availability of the documents must be mentioned in the notice of meeting.
41 The meeting of the Assembly is chaired by a person elected by the Assembly for this purpose.
The opinion supported by more than half of the votes cast shall be the decision of the Assembly, unless otherwise stipulated by law or some other provision of these rules. In the event of a tie, the chairperson has the casting vote. In elections, the person who receives the most votes is considered elected. In the event of a tie, the election is decided by lot.
A decision to amend the rules of the fund is valid only if it is supported by at least two-thirds of the votes represented at the meeting.
The same applies to the liquidation and dissolution of the fund in cases other than those required by law, and the approval of a merger agreement.
If an amendment to the rules directly affects the rights or obligations of the partner company, the amendment must also be approved by the partner company at the meeting of the Assembly or otherwise. If there is more than one partner company, the amendment must be approved by at least two-thirds of all partner companies at the meeting of the Assembly or otherwise. Furthermore, the number of votes of the partner companies approving the amendment must represent at least two-thirds of the total number of votes that the partner companies would have had if all partner companies had been represented at the meeting of the Assembly.
42 A matter which has not been dealt with in accordance with the procedural provisions of the law or the provisions of these rules concerning the notice of meeting may only be decided on with the consent of the insured members (and partner companies) affected by the omission. If a matter must be dealt with at a meeting of the Assembly by law or under these rules, the Assembly may decide on it even if the matter is not mentioned in the notice of meeting. The Assembly may also always decide to convene an extraordinary Assembly meeting to deal with a specific matter.
If the power of decision at a meeting of the Assembly is vested in elected representatives, the meeting is nevertheless lawful, regardless of the notice, if all the representatives are present.
43 Minutes are kept of the meeting of the Assembly, recording those present and entitled to vote, their number of votes, the decisions made at the meeting and the result of the vote when a decision has been put to the vote. The minutes must be checked and signed by the chairperson and at least one person with voting rights elected for that purpose at the meeting. The minutes must be sequentially numbered and stored in a reliable manner. The minutes must be made available to the insured members and the partner company at the fund’s office or elsewhere no later than two weeks after the meeting. The partner company and insured members have the right to receive a copy of the minutes and their annexes.
BOARD OF DIRECTORS
44 The fund’s Board of Directors consists of eight members, each of whom must have a personal deputy.
The Board of Directors is elected by the Assembly. The insured members of the fund elect four full members of the Board of Directors and their deputies. The partner company elects four full members and their deputies. The partner company elects four full members and their deputies. No person over the age of 65 may be elected as a member of the Board of Directors.
The members of the Board of Directors serve for a term of two years. The term of office expires at the end of the Assembly meeting that holds the next election. Every two years, two members elected by the insured members and two members elected by the partner company, together with their deputies, step down from the Board.
A meeting fee is paid to each member or deputy member of the Board of Directors who attends a meeting, the amount of which is decided on by the Assembly.
A member or deputy member of the Assembly may not be a member or deputy member of the Board of Directors.
45 The Board of Directors represents the fund and handles its administration and the proper organisation of its operations.
In particular, the Board of Directors is responsible for the following:
1) appointing and dismissing the CEO and the medical officer and determining the conditions of their service;
2) giving the CEO the necessary instructions and orders for the handling of the day-to-day management and other activities of the fund;
3) ensuring the proper organisation of the fund’s accounting and financial control;
4) deciding on the investment of the fund’s assets and the taking out of loans;
5) deciding on the granting of benefits, unless the Board of Directors has delegated its decision-making powers to the CEO or the fund’s employees;
6) convening the Assembly meeting and preparing the matters to be discussed at the meeting, as well as making a proposal to the Assembly in its report concerning the measures to be taken in the event of a surplus or deficit recorded in the financial statements;
7) giving the authorisation to sign for the fund.
46 The Board of Directors elects a chairperson and a vice-chairperson from among its members at its first meeting after the Assembly meeting. The term of office of the chairpersons lasts until the next ordinary meeting of the Assembly. The CEO or actuary cannot chair the Board of Directors.
The Board of Directors meets at the summons of the chairperson or, in their absence, the vice-chairperson or, if no chairpersons have yet been elected, the CEO. The chairperson must convene a meeting of the Board of Directors if a member of the Board of Directors or the CEO so requests. A quorum is constituted when the chairperson or vice-chairperson and at least four other members are present.
The Board of Directors’ decision shall be the opinion supported by more than half of the members present at the meeting. In the event of a tie, the chairperson has the casting vote.
A member of the Board of Directors or the CEO may not take part in any proceedings concerning their relationship with the fund or any other private interest.
47 Minutes of the Board of Directors’ meetings must be drawn up and signed by the chairperson of the meeting and the person drawing up the minutes. The minutes must be examined by at least one member specially elected by the Board of Directors for each meeting. A member of the Board and the CEO have the right to have their dissenting opinions noted in the minutes. The minutes must be sequentially numbered and stored in a reliable manner.
The minutes must include the following:
1) the date and place of the meeting and its starting and ending time;
2) the members of the Board of Directors and anyone else present at the meeting;
3) the matters discussed, decisions made and votes cast at the meeting, as well as any dissenting opinions;
4) disqualifications and other matters deemed necessary.
CEO
48 The CEO is responsible for the day-to-day management of the fund in accordance with the instructions and orders given by the Board of Directors. The CEO must ensure that the fund’s accounts comply with the law and its financial management is organised in a reliable manner.
The CEO is entitled to represent the fund in matters which are part of their responsibility according to chapter 4, section 13 of the Act on Company and Industry-wide Pension Funds.
SIGNATURE OF THE FUND
49 The signature of the fund may be provided by the CEO or the chairperson of the Board of Directors, both separately, and by a member of the Board of Directors or an employee of the fund authorised by the Board of Directors, two together.
INVESTMENT OF ASSETS AND BORROWING
50 The fund must invest its assets profitably and securely, while ensuring liquidity.
The fund’s assets may not be used for purposes obviously outside the fund’s sphere of operations.
The fund must adapt its activities to allow it to operate without taking out loans.
However, the fund may temporarily take out short-term loans in order to maintain liquidity. The fund may not provide a guarantee.
CHANGE OF THE PARTNER COMPANY’S OBLIGATIONS
51 If the partner company wishes to change its obligations under these rules, it must notify the fund in writing at least six months before the change is due to take effect.
If the partner company withdraws its consent to compulsory membership within the meaning of chapter 2, section 3 of the Insurance Fund Act, it will remain valid for a further six months after the notification of withdrawal has been received by the fund.
MERGER AND DEMERGER
52 The fund may not merge or demerge as provided for in chapter 7 of the Insurance Fund Act.
TRANSFER OF THE INSURANCE PORTFOLIO AND VOLUNTARY LIQUIDATION AND DISSOLUTION OF THE FUND
53 As regards the transfer of the fund’s insurance portfolio and the voluntary liquidation and dissolution of the fund and the measures they require, the provisions of chapter 8 of the Insurance Fund Act shall apply.
STATUTORY LIQUIDATION AND DISSOLUTION
54 As regards the liquidation and dissolution of the fund and the measures they require, the provisions of chapter 9 of the Insurance Fund Act shall apply.
The fund must be liquidated and dissolved in the following situations:
1) if the number of insured members at the end of the last two calendar years has not reached the minimum number laid down in these rules and it cannot be considered likely that the number will rise above this number in the next four months;
2) if the fund’s financial statements indicate a deficit and this deficit is not covered within the next two financial years;
3) if the fund does not meet the calculation criteria of technical provisions or the requirements for the coverage of technical provisions and the differentiation of the margin;
4) if all the partner companies cease the activity under which the insured members operate;
5) if the rules expressly so provide;
6) if the Financial Supervisory Authority has ordered the dissolution of the fund.
55 If the fund is dissolved, the remaining assets will be distributed to those who were insured by the fund at the beginning of the liquidation process. The assets will be distributed in proportion to the premiums they have paid in the 60 months immediately preceding the start of the liquidation. If the amount to be distributed is small, the Assembly may decide, by majority vote, to use the funds for some other purpose similar to the activities of the fund or in the public interest.
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