As per requirement of the Seychelles Pension Fund Act 2005, the Institution handed over its Annual report 2023 to the Ministry of Finance, National Planning and Trade in a small ceremony today at the National House. The document was handed over to Mr. Patrick Payet, the Secretary of State of the Ministry of Finance by the SPF Chairperson Miss Shella Mohideen in the presence of Miss Nisreen Abdul Majid the SPF CEO.
Miss Abdul Majid then proceeded with a short presentation to members of the press to provide a highlight of the report showcasing SPF being on target with its obligations. Overall the report showcased the following;
• Contributions- Increased by 22% from SCR611m in 2022 to SCR 748m in 2023.
• Pension and Benefits- Increased by 13% in total benefit paid compared to 2022 from SCR599m to SCR679m in 2023.
• Members Fund – Growth of 5.5% from SCR1.8b in 2022 to SCR1.9b in 2023 compared to the growth of 4.8% in 2022.
• Members interest credited to members – 1.5% for the mandatory contribution and 3.75% on voluntary contribution.
• Excess Contributions over benefits – Excess surplus of SCR109m in 2023 compared to SCR47m in 2022.
Click on this link to access the whole report https://pensionfund.sc/publications/spf-annual-report-2023/
