or the inter-sectoral level, and they can provide several social benefits such as pension (in particular occupational pension funds), health care, unemployment, disability, paid holidays, and other such benefits.
Within the paritarian model there are two phases: in the negotiation phase, when a collective agreement between the trade unions and the employers’ representatives set up the social fund; and in the management phase, the signatory parties decide to manage their negotiated social funds themselves by establishing a Paritarian Institution in which they are equally represented.
The combined funds currently managed by the Paritarian Institutions of Social Protection total to a rough estimate of 1.3 trillion euro in assets and cover about 80 million European citizens.
AEIP underlines the specific peculiarities of the Paritarian Institutions compared to other similar actors like private insurance companies or mutual organizations.
[4] Paritarian (from the French "paritaire"; "paritair" in Dutch, "paritätische" in German, "Paritetico" in Italian) means jointly managed on an equal basis (parity basis).