The Trust is founded on collectively bargained agreements that were established by the Parties (HSABC and HEABC) as the basis for the funding, investment and provision of benefits to Beneficiaries.
Contributions are received by the Trust and used to pay claims for Extended Health, Dental, and AD&D, Life and Long Term Disability benefits. Contributions also include amounts intended to build reserves for future claims, especially LTD. These reserves are invested through the Health Care Investment Unit Trust or HIUT.
The HIUT is made up of the Joint Health Science Benefits Trust (JHSBT), the Joint Facilities Benefits Trust (JFBT), the Joint Communities Benefits Trust (JCBT), and the Healthcare Benefits Trust (HBT). These Trusts are able to set their own investment strategies but are regarded as a single client by the British Columbia Investment Management Corporation (BCI).
The JHSBT investment strategy is set out in its Statement of Investment Policies & Procedures (SIPP).