Seychelles Pension Fund

Established in January 2006, the Seychelles Pension Fund (SPF) was created through an Act of Parliament. Its primary purpose is to serve as an earning replacement mechanism, ensuring that qualifying members can lead a life of basic comfort during their retirement years.

Defined Benefit Pension System

SPF operates a Defined Benefit pension system, providing Seychellois employees with a predetermined pension amount based on a specific formula when they retire. This pension is guaranteed for life. The system is designed as a 'Pay-as-you-go' plan, where the working generation of tomorrow supports the retirees of today, just as today's workers contribute to the welfare of yesterday's retirees.

SPF's Three Main Departments

To efficiently fulfill its mandate, SPF is organized into three main departments, each with a specific role.

1. Pension and Benefits Department (Core Function) - The core department responsible for managing pensions and benefits for members.

2. Investments Department (Supplementary Function) - This department focuses on supplementary functions related to investment strategies.

3. Corporate Services Department (Support Function) - The support function of SPF, which ensures smooth administrative operations and services.

Managing the National Pension System

SPF plays a pivotal role in managing the national pension system of Seychelles. It collects contributions from Seychellois workers, encompassing a wide spectrum of employment categories. These include individuals from the formal sector, both public and private, informal employment, self-employed individuals, part-time workers, and casual laborers.

Vision

Becoming a Leader and Model in Retirement Systems

The vision of the Seychelles Pension Fund is to stand as a leader and model among retirement systems. It aspires to achieve this by offering the most comprehensive retirement and benefit packages to its members, ensuring a high standard of living during their post-retirement years.

Mission

Managing and Securing Funds for Optimal Benefits

SPF's mission is dedicated to effectively manage and secure its funds. It aims to do so through prudent investment strategies and innovative methods, ensuring that the optimum retirement and related benefits are disbursed to its members. The mission emphasizes the importance of ensuring financial stability and the welfare of retirees in Seychelles.

The Seychelles Pension Fund is an essential institution in Seychelles, dedicated to securing the financial well-being of its members during their retirement years. With a defined benefit pension system, a clear vision, and a strong mission, SPF stands as a key pillar in the country's social security framework, offering Seychellois workers a comfortable and secure retirement. Through its three main departments and its dedication to prudent financial management, SPF is committed to providing the best possible retirement and related benefit packages to its members, ensuring a prosperous and dignified life after retirement.