Each trimester we take the average of the deposit interest rate of the three major banks (Bank of Cyprus, Popular Bank and Hellenic Bank), then we deduct the expenses of the Provident Fund, which correspond to the percentage of the expenses calculated on the last accounting period and we distribute the percentage to the accounts from which there will be withdrawal of contributions.

In case that a member of the Fund voluntarily resigns from the hotel industry, then such member shall be entitled to collect also the account B regardless of the years of service, provided that such member resigns for one of the following reasons:

1. If the member resigns to get married, then such resigning member may receive both the Accounts A & B within a period of 3 months before the wedding until 3 months after it.
2. If the member resigns for having a baby, then such resigning member may take both Accounts A & B after terminating its work within a period of 6 months before or after the date of the birth of its child.

For both above cases, the Management Committee may decide otherwise, as it deems fit, in accordance with the circumstances and supporting documents of each case separately.

For other reasons, please press here.