Common Good Funds

Members contribute $1.00 monthly to this account. Under the Common Good Fund, members would be eligible for the Retirement Benefits or Funeral Grant as follows:

 

a. Retirement Benefits

 

Years of Continuous Membership	Amount*
10 years to 15 years	$300.00
16 years to 20 years	$400.00
21 years to 25 years	$500.00
26 years to 30 years	$600.00
More than 30 years	$800.00

 

*quantum will be determined by the Committee of Management depending on the availability of funds.

 

b. Funeral Grant

In the event of death to a member, his nominee or his legal personal representative, as the case may be, shall be paid an amount of $1,000.00. His nominee has to submit the member’s death certificate or other documentary proof for the grant.