10 years of continuous contribution to the Social Security Fund or the Seychelles Pension Fund (Scheme) immediately prior to retirement or an aggregate period of 20 years of contribution to the Social Security Fund or the Seychelles Pension Fund prior to retirement at the age of 60 or 63.
Any persons who have not contributed for a continuous period of ten years on reaching retirement or 20 years aggregate contribution to the Social Security Fund or the Seychelles Pension Scheme or Fund do not qualify for a monthly retirement pension at the prescribed percentage. Any contribution made and standing to the credit of the worker in his or her account in the Fund up to the date of attaining retirement age shall be refunded to the worker on retirement as a lump sum payment. However the worker will be entitled to receive the social security retirement pension on reaching the age of 63.
Voluntary contribution made to the Pension Fund will be refunded in a lump with interest as a gratuity on retirement or at the request of the retiree shall be included in his or her monthly pension. Members will be encouraged to make voluntary contribution in order to increase the level of funds available to them on retirement.
The pension is payable to the surviving spouse living with deceased and who was being maintained by him or her at the time of death or in the case the deceased was not married to the common law spouse after three years of cohabitation. It is not payable if at the time of death the surviving spouse was cohabiting with another person other than the deceased
If the deceased member has no children the pension payable is 80% of the full pension for life, which the deceased would have earned if he or she has retired. The only exception is that if the surviving spouse is 10 years younger than the deceased spouse, the surviving spouse shall be entitled to 70% of the retirement pension. This is generally the case in most pension schemes or funds to avoid abuses. Where the deceased member has children, the surviving spouse shall be entitled to 50% of the pension or such smaller amount as per the deceased member’ s nomination but not less than 25% of the pension..
Nomination of children as the beneficiary may be up to 75% of the surviving spouse’s pension should be done on the prescribed form referred to under paragraph 11.
A post surviving spouse’s pension is payable if the death of the member (pensioner) occurs within a period of two years after retirement.
Where the surviving spouse is drawing his or her retirement pension the entitlement is 50% of her husband or wife’s retirement pension.
Children’s pension is granted to the children’s guardian for the maintenance of the children under the age of 18 or above the age of 18 up to 25 years of age if receiving full time education. Children include recognized illegitimate children being maintained by the spouse prior to his or her death. Where there is no surviving spouse, the granting of a children’s pension of 80% of the full pension. Where the deceased member has a surviving spouse, the child shall be entitled to a pension of 40% or such bigger amount as the deceased member may elect but up to 75% of the pension. Where there is more than one child of the deceased member the pension shall be divided equally.
Where the children are the mother or the father of the surviving spouse and under the age of 18 and living together he or she may draw the children’s pension as their guardian for the maintenance of the children.
If the person decides to return to Seychelles the person can contribute to the Fund to be able to earn a pension, that is, on completion of 10 years of contribution and on attaining retiring age be entitled to receive a pension or in case of contributing less than ten years be eligible for refund of both the mandatory and voluntary contributions made to the Fund.
The payment of a pre-retirement death gratuity to the nominated beneficiary or dependant equivalent to the mandatory contribution of R100 made by employers and employees as well as the voluntary contribution including interest if deceased has no surviving spouse or children.
The member may nominate one of his dependants or more to benefit from the gratuity.
Members are encouraged to make nomination of beneficiary on the prescribed written form. Click here to download the nomination form.
A prescribed application form is available and can be downloaded for use. Download Claim form.
Note: The Seychelles Pension Fund Benefits/Regulations are available and can be downloaded.
Generally the supporting documents to be attached to the form and submitted to the Benefit Division are
Certified copies or original documents are accepted