Seychelles Pension Fund presents its 2021 Annual Report to Minister Hassan
May 13, 2022
The Seychelles Pension Fund (SPF), presented its 2021 Annual Report to the Minister for Finance, National Planning and Trade, Naadir Hassan, on Friday 13th May, 2022.
Benefit payments stood at 3% above that of contributions collected for the year 2021.
Seychelles Pension Fund said, the above figure, 'justifies the need for the recently initiated reforms within Seychelles Pension Fund as the organization faces sustainability challenges.'
"This is coupled by an increasing rate of benefits pay -out at 15% compared to only 1.5% increase in contribution collected compared to the 2020 statistics."
The main outline of the report also indicates a reduction in administration cost by 9% and an all-time highest collection from voluntary contribution of SCR 39 m.
Click on the link below for the highlight of the Seychelles Pension Fund 2021 Annual Report.