The Fund operates on the basis of the provisions of the Provident Fund, which entered into force on December 28, 2012, the Law 208 (I) of 2012 on the Establishment, Activities and Supervision of the Professional Retirement Funds (hereinafter referred to as " Law").  Pursuant to article 55 of the Law, the Provident Funds Laws 1981 to 2005 and related Regulations and the Establishment, Activities and Supervision of the Professional Retirement Benefit Funds Laws of 2006 and 2007 are abolished.  In view of the above, your Fund's operation will now be governed by the provisions of the aforementioned Law.  The Provident Fund is funded by the Employers (Hoteliers) and the Members (Hotels) in order to pay financial benefits to members in case of retirement or termination of employment.

Members' contributions are credited to Fund A Account while employer contributions to Account B. The total value of the Fund's portfolio at 31 December 2019 amounted to €241 millions. Annual inflows from member and employer contributions amount to approximately €10 million per year.
The contributions of Members and Employers and the net incomes resulting from the management of the assets of the Fund are also credited to the Accounts A & B at the end of each calendar year.

The Fund is being managed by a Management Committee comprising of thirteen members, (hereinafter the "Committee") in which all the concerned parties participate. Seven (7) of the Members of the Committee are appointed by the Employers while the rest of the members come from the part of the employees (the Members) who are represented by the two greatest unions (PEO - SEK). The Committee, in its absolute discretion, determines the investment strategy and manages the assets of the Fund as specified in the articles of association of the Fund.

The Fund itself employs on a permanent basis an accredited trustee holding the office of General Manager of the Fund and also five (5) employees responsible for the smooth operation of the Fund on a daily basis.

The Fund constitutes one of the largest pension organization operating in Cyprus in respect of the number of its members (12,405) and also the greatest Fund of the private sector based on its portfolio value.