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Pursuant to law 479 ordering to constitute a compulsorily Order of Nurses in LebanonPursuant to articles 47 and other ones, related to establishing the Pension and Financial aid FundPursuant to the proposal of the Order Council, referring to the modification of the Fund BylawsPursuant to the approval of HE the Minister of Public HealthThe Bylaws of the Pension and Financial Aid Fund For nurses or their families, is set into effect

Art. 1: Establishment of the pension Fund
The Pension and Financial Aid Fund is established, in favor of the Nurses in Lebanon, who compose the compulsory order, according to law 479/2002

Art. 2: Object of the Fund
This is a non-profit aiming Fund, which main object is to provide the benefits’ durability, to the order of the beneficiaries

Part one: the Fund Management and Governance
Art. 3: The Fund Management Committee

The Fund Management is provided by a committee composed of:
  • The Order Chairman as President
  • Two of the Order Council members, whom the Order Council elects by secret ballot, for a mandate term of two years. Said term is renewable only for one time
  • Six members, not being of the Order Council. They are elected by the General Assembly , in pursuance of the effective Electing Regulation, regarding the election of the members of the Order Council Members, for a term mandate of two years. Said term might be renewable once, under the same conditions of competence and candidacy; provided four of said elected council members are University degree’s holders, while the remaining two ones are holders of either the Baccalaureate Technique or the technique Superior. If either or both seats reserved for council members become vacant, recourse shall be made to fill such vacancy/ vacancies by electing members amongst the remaining members of the Order Council. If one or two or three members’ seats of the committee, who are not members of the Order Council, become vacant, the Pension and Financial Aid Fund quorum remain valid with its remaining members. But, if more than three members’ seats become vacant, then the general assembly shall be convened to conduct by-election, in order to fill vacancies.

Art. 4: The Fund Work’s Control
The Order Council exerts the Right of control over the work of the Pension and Financial Aid fund, with all its pertaining powers whereas to supervising and managing the committees, in function within the order, because the Fund Committee counts amongst those dependent on the Order’s Council

Art. 5: Electing the Secretary and the treasurer
The committee shall elect amongst its members, a secretary and a treasurer to assist the President, thus during the first meeting said committee holds, after being constituted or definitely after changing the Order President

Art. 6: The Committee Tasks
The committee shall be responsible for the Fund Management, whereas to all financial, technical, working or practical and investment aspects. The committee is questionable about its works before the order council and its members general assembly. The committee is vested with the following tasks:
  • To appoint employees for assisting it, in the Fund Management, to determine their job and fix their salaries
  • To have recourse to competent expertise, not belonging to the order
  • To open banking accounts
  • To appoint an independent auditor
  • To appoint an independent actuary expert
  • To prepare reports and balance sheets, reflecting the Fund position and development
  • To submit recommendations to the general meeting, through the order council, whereas to fix the contributions’ fees

Furthermore, the committee shall assume responsibility, whereas to make all decisions, in order to ensure the fund business good running and management, whereas to all issues, which aren’t mentioned herein

Art. 7: Signature and Correspondences
The President and secretary of the Order shall sign the Fund’s minutes and correspondences. Similarly, the President shall sign together with the treasurer all financial operations, payments, agreements, and the opening of the accounts, which the committee resolves or decides. All such operations are subject to verification by the accountant or auditor, accredited beneath the Fund.Furthermore, the President shall sign, together with the treasurer, all decisions regarding the withdrawal or payment of funds relevant to paying for utilities, and all managerial expenses, whether ordinary or urgent.

Art. 8: Annual Financial Report
The committee shall prepare the annual financial report and submit it to the Order Council, to submit it to the general assembly in its first meeting. The report shall enclose the opinion of the independent auditor and actuary expert (the insurance expert), regarding the following:
  • The accuracy of the Fund financial position and accountancy
  • The Fund financial and technical positions at the end of the year
  • The financial and technical situations changes that occurred during the year
  • The Fund working’s evaluation
  • The evaluation of the investment policy, and the risks threatening the Fund’s financial solvency and benefits durability or continuity
  • Any recommendations, being necessary to preserve the Fund Durability, including the modification of the benefits or resources or investment policy

Art.9: the Fund Balance Sheet
The committee shall establish the Fund balance sheet before the start of the fiscal year, and submit it to the Order Council, to be subject to the general assembly, at its session, upon submitting the annual report.

Art. 10: the investment policy
The committee shall be responsible for the Fund investment policy position or situation, its revision and submitting recommendations about it, in a periodic manner, further to obtaining the order’s council approval accordingly. Such policy shall be pursuant to the cautious principles of the investment directorate, whereas its main goals are as follow:
  • To adopt good reputation banks, regarding short and long term deposits
  • To provide sufficient liquidity within current accounts to pay for all benefits and administrative expenses, for a period not less than 24 months
  • To distribute the investment portfolio, in a manner guaranteeing reasonable and low volatility revenues
  • Provided the treasurer keeps a sum of money not exceeding five times the minimum basic salary, for urgent expenses. Yet, no sum is allowed to be withdrawn or paid unless for the committee resolution, together with the signature of the Order President and treasurer

Art. 11: Meetings of the Committee
The committee of the Pension and Financial Aid Fund shall meet periodically, once each three months, at least, thus in order to set the Financial policy and to verify the Funds accounts, expenses and revenuesThe Meeting shall not be deemed duly held, unless if attended by more than fifty per cent of the members, composing the Fund, thus while the President or the vice president heads it. Resolutions shall be taken with the same majority. In case the quorum is not met, the Order President shall convene to a second meeting which shall be deemed duly held with the attending members. Its resolutions are taken with the majority of the present members. Yet, the President shall underline within his invitation, that this is an exceptional meeting, with the attending members, since it is the second session. The President of the Order may call the committee to hold meetings, each time there is need to do so.

Part two: the Fund Benefits
Art. 12: The Fund Benefits

The Fund provides beneficiaries who met the under mentioned conditions, with the following benefits: -A monthly fixed pension for the affiliated member and his successors-Financial aid, in some exceptional cases

Art. 13: Determining the monthly pension
The monthly pension and maximum financial aid amount is determined through a resolution by the Order Council, upon a recommendation to be submitted by the Management Committee of the Pension and Financial Aids Funds, provided the recommendation is justified by an actuary study, including the obligatory motives, and explaining the reflection of the proposed change on the Fund Financial situation.

Art. 14: Conditions to benefit of the Pension Fund
Each lady or gentleman nurse shall benefit of the pension Salary, if she or he meets one of the following conditions:
  • To be duly registered beneath the order, according to article four of law nº 479/2002, and its modifications. Furthermore, such member ought to have paid all the contribution fees, being of sixty four years of age, while his affiliation to the order refers to ten years as a minimum, and he or she ceased practicing nurse profession, provided he or she requested to become retired
  • To have been affiliated to the order for ten years at least, while stroke by a permanent full disability hindering him or her of practicing the profession, provided to apply in person before the Fund for obtaining benefits.

The Fund shall proceed with the benefits payment upon the issuance of the Committee approval, without any retroactivityFurthermore, each of the following shall profit of the Fund benefit:
  • the family of the lady or gentleman nurse, in case of decease, for a maximum time of five years
  • the single nurse’s father and mother or either of them is alive, in case of nurse’s death , provided the deceased nurse is the only support of his or her parents, thus for a maximum time of five years

Art. 15: Updating the benefiting Application
The beneficiary of the pension or the financial aids shall update the benefiting application, once per three years, in order to guarantee the continuity of the pension payment, according to the benefiting conditions, as mentioned by article 14.The benefit application update includes the new proper data, the new conditions and reasons. Yet, the application shall be submitted again to the Fund Management Committee, in order to decide whether to continue the pension payment or ceasing it, according to the available conditions

Art. 16: Distribution of the retirement pension amongst beneficiaries
  • According to the two last paragraphs of article fourteen, the retirement pension shall be distributed to the deceased lady or gentleman nurse Family members, being the eligible parties. Yet they are:
  • The husband or the legal none divorced wife or wives; yet, in case of re-marriage, said spouse shall loose his right whereas to receive the retirement pension.
  • The legitimate children, who didn’t reach eighteen years old
  • The children affected by a disease or handicap, hindering them of practicing any paid work, after reaching legal age
  • The father and mother who do not practice any paid work, provided that the deceased nurse is their only support.
  • Distribution occurs as follows: 50% to the order of the wife or wives equally, while the other 50% goes to the children, while distributed equally amongst them. In case, the unique child lives with the unique spouse, the resulting money shall be equally divided between them. In case the wife or the husband deceases, the part pertaining to either of them shall be transferred to the children. In case of non marriage, the funds are distributed between the father and mother equally, or else they shall be given to either of them, being the survivor.

Art. 17: Financial Aid
There shall benefit of the financial aid, and upon request, each lady or gentleman nurse, whose affiliation to the order refers to more than ten years back, while not eligible to a retirement monthly pension, because he or she did not yet reach the retirement age or isn’t affected by disability. Similarly, the family of the nurse shall benefit as well, due to exceptional social or health condition, provided the issue is submitted to the committee of the Fund for studying it under the light of the standards it applies, further to giving its answer whether for approval or reject, according to such study or to the investigations its conducts.

Art. 18: Conditions to benefit of the Fund and Aids
The nurse affiliated to the order, and who had settled all his or her annual and pension contributions without any interruption, shall benefit of the Pension and Financial Aid Fund. Similarly The Families of the nurses, having met the legal conditions shall benefit as well. In case of interruption or will to get re subscribed, the beneficiary shall pay all the Fund contributions in addition to the fines accrued due to interruption, provided he or she had applied for subscription renewal, five years at least before becoming retired.
Each lady or gentleman nurse becoming a retiree, for reaching the relevant legal age or for being completely and permanently disabled, while hindered of practicing the nurse profession, shall have his or her name stroke out of the Order General Assembly, while becoming subscribe in the Retirement roll

Part Three: the Fund Revenues
Art. 19: the Fund Resources

The fund resources are composed of:
  • the annual fees contribution, the Order collects in favor of the Pension Fund
  • Donations, testaments and Gifts
  • Governmental aids
  • The sum the Order council decides to deduct of the Order Treasury, which shall be mentioned in its annual balance sheet
  • The Fund Revenues and interests
  • Other revenues

Part IV: Other Provisions and Articles
Art. 20: Application to become retired, application for disability and aids benefiting

The application to become retired or to benefit of the financial aid shall be submitted directly to the President of the Order as of his quality of the Pension Fund President. Yet, he will refer the application to the Fund Committee
The Fund Management Committee shall decide whether the retirement/ pension or aid conditions are met, in the light of the investigations it conducts. It has to justify its decision in case of refusal. The Retirement pension or financial aid shall not be paid unless after the issuance of the Committee Decision, but without any retroactivity.

Art. 21: Settlement and determining payments
The retirement pension shall be paid each three months according to the mechanism set by the committeePayments shall not, for whatever reasons, exceed 80% of the Fund Assets, provided the committee works, under emergency conditions, in order to submit recommendations to the Order Council, whereas to the procedures to be adopted, in order to avoid the Fund failure or deficit, including the decrease of benefits or increase of revenues or both or any further proposition

Art. 22: Seizure and Assignment
The retirement or disability pension may not be assigned or seized for whatsoever reason. Yet, funds are paid only to the beneficiary in person or to his legal representative, against official power of attorney.

Art. 23: Settling Disputes
The Order Council shall settle each and any dispute rising between the Fund Committee and the Nurses. The Council order shall be final, after conducting the necessary investigations, in the light of the issues produced by either party

Art. 24: The Investigation
In Spite of any previous or contrary decision, and in all cases, the Fund Management shall be entitled, at any time, to refer any formality to investigation, in order to get ensured about the sustainability of the required conditions to benefit of the retirement pension, the disability or Financial aid, subject to ceasing payment, canceling the pension or the aid, depending on the available results and circumstances

Art. 25: Applications and documents
The required documents to submit pension, disability, and financial assistance applications shall be determined, by a resolution of the Fund Committee, knowing that the latter are granted for exceptional cases to be decided by the committee, in the light of the circumstances, submitted to it. Regarding disability applications, they shall be appended with a medical report, signed by one of the physicians to be determined by the Order, upon the Fund Management Proposal

Art. 26: Fiscal year
The Pension and Financial Assistance Fund’s fiscal year is determined from the first of January till the thirty first of December of each year. Yet, the First fiscal year shall start on the date when the Fund Operations were launched till December 31, of the same year.

Art. 27: Urgent Issues/Emergencies
Each and any issue not provided for within this Regulations and rules texts or any of the urgent issues, which might be raised before the Fund, shall be of the Order Council Competence to rule over it, according to what it deems fit, in the light of the data submitted to it and which the Fund Management Committee submits according to equity rules and principles
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