Personnel funds: documentation of statistics

The personnel fund's equity comprises the members' capital and other fund capital.
Other fund capital includes the fund's joint capital and any donations made to the fund.

Any profits or losses made by the fund may be added to the members' capital and other fund capital in the manner described in section 22 in the Act on Personnel Funds (814/1989).

A personnel fund is a fund owned and controlled by a company's or agency's personnel and is intended to function as a rewarding mechanism for the personnel and thereby improve the personnel's work motivation and promote the company's success and competitiveness. The task of the personnel fund is to manage the profit bonus items and other assets referred to in the Act on Personnel Funds (814/1989) and paid to it by that company or agency as well as to pay out the members' shares of the fund.

The fund's by-laws may provide for part of the profit bonus items and the fund profit to be transferred to the fund's joint capital to be used for educational and other purposes for the benefit of the members. A transfer provision applies equally to shares in profit bonuses earned by persons who have become members of the personnel fund under section 14a in the Act on Personnel Funds (814/1989). The fund's by-laws may restrict a member's right to avail himself of membership benefits that have been acquired through the employment of the fund's joint capital, if he exercises his right under section 17a to withdraw his profit bonus share in cash.

The personnel fund's equity comprises the members' capital and other fund capital.

The members' capital includes the capital that is added to the members' fund units and any revaluations that have been made in investment of this capital.

Any profits or losses made by the fund may be added to the members' capital and other fund capital in the manner described in section 22 in the Act on Personnel Funds (814/1989).

Under the Act on Personnel Funds (814/1989), a "profit bonus item" is a sum of money which is substantially determined in a company from the operating profit according to an income statement or comparable internal accounting calculation, plus depreciation, or from an item after that calculation, indicating the profitability of operations and possibly from other indicators of the company's operating efficiency, and in a government agency from bonuses in accordance with its bonus system.