Governance

The Chemical Engineers Benevolent Fund was founded as a charity in 1934 by members of the profession who wanted to provide support to their fellow engineers around the world in times of hardship and distress. Its objectives are to provide assistance to chemical engineers and their immediate dependents who, in the opinion of the trustees, are in need of financial support, owing to age, illness, accident, or ill health.

Potential beneficiaries are defined as:

Any person who is following or has followed the profession of chemical engineer; or their immediate family dependent. We screen all applications to verify the status of the claimant as, a member of the chemical engineering profession, e.g., their degree status; whether they hold membership of a relevant professional institution at an appropriate grade. Associate; Chartered Members and Fellows of IChemE are automatically in scope.

Considering an appeal for assistance

The trustees will make investigations into the circumstances of the appeal to ensure that the broad requirements as set out above are met. These investigations may be carried out by the trustees or a member of the chemical engineering profession or an employee of the Institution of Chemical Engineers as felt most appropriate by the trustees.

Types of assistance

Assistance usually will be of a financial nature ie gifts, grants or loans. Gifts are sums of money given for non-specific purposes. Grants are sums of money given for specific purposes. Loans are sums lent for general purposes and due to be repaid over a mutually agreed time span at a zero-interest rate.

Assets of the fund

The fund has been created by the generous donation of individuals. The money is invested, with the help of specialist investment managers, in such a way as to achieve the best return on investment whilst safeguarding the security of the fund.