This is a fund established by a provider of financial services or products and to which employees of unrelated employers may be required to belong in terms of their contracts of employment.
Underwritten fund The only assets of this type of fund are policies of insurance. Contributions are paid directly to the insurer and the insurer then undertakes to pay benefits as and when they become payable by the fund.
Privately administered fund This is a fund other than an underwritten fund generally with its own bank account
Self-administered fund This is a fund which does its own administration and does not employ the services of a professional section 13B administrator.