The Seychelles Pension Fund has a new and more modern way of calculating your retirement pension.
The new formula takes into consideration the following:
- Your salary for the last 11 years
- Number of years you have been contributing towards SPF
- Rate of increase in salary growth and the adjustment in contribution to reflect true contributed amount (accrual rate).
Your Pension is calculated using the following equation:
Total Number of Years Contributed x Accrual Rate x Average Salary for last 11 years x Wage Growth
Disclaimer: The above calculation is to provide members with an indication as to how much pension they are entitled to at this moment in time. Please note that pension amount will change according to updates in statistical data as and when it happens. For example as the year of contribution increases, the pension amount will be adjusted to reflect this change.