Membership and management
Legal Provident Fund has more than 400 participating employers. When an employer first decides to participate in the fund, the existing employees and directors have 12 months to exercise the option of whether or not to join. After this, for new employees and directors, membership is compulsory membership for partners is optional.
Legal Provident Fund is managed by a board of trustees. The trustees have a duty to act with due care, diligence and in good faith to the fund and to act in the best interests of the fund. They have to exercise a higher degree of care and diligence in managing the affairs of the fund than they would in managing their own affairs. It is vital that the trustees act impartially and take all reasonable steps to ensure that the interests of all members are protected at all times.