According to SBP sources, the membership of the trust would be compulsory for all employees of the State Bank of Pakistan and its subsidiaries except those who are in service on contract basis.
The membership would be optional for employees retired under the ordinary rules of the Bank or under special severance rules of the bank or before attaining the age of superannuation.
In case of a serving employee, a sum of Rs 1,000 would be deducted as one time entry fee and a sum equal to one percentum of the monetised salary each month as membership.
In case of a retired employee, opting to become member, the membership of the trust, might be allowed on payment of one time entry free of Rs 1,000 and a monthly contribution of one percentum of gross pension calculated on last drawn salary, the sources added.
The member would signify his consent and give authorisation or commitment to make contribution in "Form-I". If any member refuses to pay the contributions or if his contributions are outstanding for more than three months, a notice in writing would be issued and he would be informed that he could not be entitled to receive any benefit under the trust.
The trust chairman would constitute various committees of Trustees with suitable terms of reference to deal with different kinds of cases of hardship, medical, educational, recreational or cultural financial assistance.