welfare fund

noun

1. a fund set up by a union or employer, providing benefits to workers during a period of unemployment or disablement, as salary continuance while ill.

Example Sentences

In October 2024 alone, he donated nearly $2 million in memecoin winnings to charities, including $532,000 to the Effective Altruism Fund's Animal Welfare Fund and over $1 million to the United Humanitarian Front, an organization providing grants to humanitarian relief initiatives in Ukraine.

From Salon

Prosecutor Mir Ahmmad Ali Salam said the embezzlement case involves a workers welfare fund of Grameen Telecom, which owns 34.2% of the country’s largest mobile phone company, Grameenphone, a subsidiary of Norway’s telecom giant Telenor.

From Seattle Times

The industry is often rife with casual substance use, said Aaron Walsh, an addiction recovery specialist with the St. Louis Laborers’ health and welfare fund.

From New York Times

At least 67 Grameen Telecom workers were supposed to be made permanent employees but were not, and a “welfare fund” to support the staff in cases of emergency or special needs was never formed.

From Seattle Times

The acclaimed economist and three colleagues from Grameen Telecom - one of the firms he founded - were found guilty of failing to create a welfare fund for their workers.

From BBC