Seychelles Pension Fund

Seychelles Pension fund Act, 2005
SPF CORAIL
SPF1
spf
Unity-House

audited financial statements

about

Name:

Seychelles Pension Fund( SPF)

Date of Establishment:

1st January, 2006

Established under the Seychelles Pension Fund Act, 2005

Sector: Financial

Parent Ministry:

The Minister responsible for Finance

Business type:

Fund jointly supported by employees, employers and the Government of Seychelles.

mandate

The Seychelles Pension Fund is a cost sharing retirement system through contributions from employers, employees including the self-employed and investments.

It provides pensions on retirement, in case of disability and to qualified surviving spouses and children in case of death of the member before and after retirement.

 

It also provides benefits to dependents or heirs where the member does not have children or surviving spouse and through a lump sum payment equivalent to their contribution for those who eventually do not qualify for a pension.

core activities

The Fund shall:

  • provide for the financial security of members by the
    payment of a monthly pension under the Seychelles Pension Fund Act, 2005

  • provide for the financial security of the surviving spouse and children of members who die before retirement by the payment of a monthly surviving spouse’s pension or children’s pension

  • provide in accordance with the Act for the financial security of those who are incapacitated due to injuries or illness while being employed or thereafter

  • provide death benefit where a member dies before reaching
    retirement age and has no surviving spouse living with him or has no children at the time of death

  • enable workers to spend their retirement in basic comfort

  • promote individual voluntary contributions to the Fund

  • enable members to use the voluntary contributions to their credit as security for a housing loan or a loan for medical treatment

The Subsidiary

Name: Opportunity Investment Company Ltd (OICL)

Date of Incorporation: 13th January, 2006

Parent Ministry: : The Minister responsible for Finance

Business type: Company

Mandate:

To act as a means of Investment vehicle for SPF and SWAN International Co Ltd.