SEYCHELLES PENSION FUND

What SEYCHELLES PENSION FUND does

Seychelles Pension Fund (SPF) is the national statutory pension scheme of the Republic of Seychelles, established by the Seychelles Pension Fund Act 2005 and in operation since 1 January 2006, replacing the prior Seychelles Pension Scheme. It administers a defined benefit pension system on a pay-as-you-go basis, covering all Seychellois workers including formal sector employees, self-employed individuals, informal/casual workers, and part-time workers. Mandatory contributions are set at 5% from employees, 5% from employers, and 10% from the self-employed (rates increased effective January 2023). Benefits payable include a retirement pension from age 65 (with a reduced rate available from age 60), an incapacity pension assessed by the Functional Capacity Assessment Board, a children's pension, a surviving spouse pension equal to 80% of the deceased member's retirement pension, a dependent adult with severe disabilities pension, and lump sum refunds for death, migration, terminal illness, and non-qualifying members. Interest is credited on member accounts at 3.75% per annum.

SPF's product portfolio is supplemented by targeted schemes such as the MATCH-IT contribution matching scheme, the Fisher Pension Scheme, and a voluntary contribution option. Digital delivery is provided through the e-Contributions platform (for employer remittance), the My e-Service member portal, the e-Spire electronic transaction system, and an online pension calculator. Member service is also delivered through physical offices on Mahe (Victoria headquarters at Caravelle House, Manglier Street), Praslin, and La Digue, supported by Facebook, YouTube, RSS, and email channels. The Fund is governed by a Board of Trustees appointed by the President of Seychelles, with a new Board appointed in December 2025, and is led by CEO Ms. Nisreen Abdul Majid (appointed 1 February 2021). The organisation operates with approximately 28 employees, and its investment, real estate, and lease administration activities indicate a vertical expansion into direct asset ownership beyond pure pension administration.

SPF's business model is non-commercial: as a mandatory social insurance scheme, it has no discretionary pricing and is funded entirely by statutorily required contributions and investment returns on accumulated reserves. Revenue streams are entirely recurring and inelastic to commercial demand, tied to the size of the Seychellois wage bill and the contribution rates set by Parliament. The Fund is overseen by government-appointed trustees, presents annual reports to the Ministry of Finance, Economic Planning, Trade and Investment, and operates within the legal framework of the 2005 Act as amended in 2018 and 2025.

Name

SEYCHELLES PENSION FUND

Legal name

Seychelles Pension Fund

Website

https://pensionfund.sc

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Seychelles Pension Fund is the national mandatory defined benefit pension scheme of Seychelles, collecting statutory contributions from all formal, informal, and self-employed workers to provide retirement, incapacity, survivor, and dependent benefits under a pay-as-you-go model.

Ownership category

akta.pro rank

Product category

National Pension / Social Security

NAICS

Pension Funds (525110)

SIC

Finance Services (6199)

akta.pro primary industry

Corporate & Public Pension Funds (DB/DC Sponsors) (FSAAAGAA)

akta.pro secondary industry

Pensions & Retirement Benefits Administration (BPAIAKAA)

Keywords

• National pension scheme
• Defined benefit pensions
• Social security administration
• Retirement income benefits
• Pension contribution management

Headquarters

HQ city

Victoria

HQ country

Seychelles

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Employee Contributions: Mandatory contributions deducted from employee wages at a rate of 5% (increased from 4% effective January 2023) for employees in Seychelles
2. Employer Contributions: Mandatory contributions paid by employers at a rate of 5% for all employees in Seychelles
3. Self-Employed Contributions: Voluntary mandatory contributions from self-employed workers at a rate of 10% (increased from 9% effective January 2023)

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Seychelles Pension Fund operates the national mandatory defined benefit pension scheme of Seychelles. It collects statutory contributions from employees (5%), employers (5%) and self-employed workers (10%), and disburses retirement, incapacity, survivor and dependent pensions, along with lump-sum refunds upon death, migration, terminal illness or non-qualification. The fund also administers voluntary contributions, the MATCH-IT Scheme, the Fisher Pension Scheme and a self-employed pension track, delivered through physical branches and online portals.

Product overview

Seychelles Pension Fund (SPF) operates a unified national pension management platform rather than a modular product architecture. The core offering is the Seychelles Pension Fund itself—a defined benefit pension system managed as a pay-as-you-go plan. SPF's product portfolio consists of pension types (Retirement Pension, Incapacity Pension, Children's Pension, Surviving Spouse Pension, Dependent Adult with Severe Disabilities Pension) and refund types (Lump Sum upon Death, Lump Sum upon Migration, Terminally ill Refund). Supporting services include the MATCH-IT SCHEME, Fisher Pension Scheme, Voluntary and Mandatory Contribution schemes, and Self-Employed Pension. Digital service offerings encompass e-Contributions, My e-Service, e-Spire portals, and a Pension Calculator.

Differentiator

Problem solved

Functional benefit

Products and services

• Retirement Pension

Quantifiable outcome

• Over 70% of members enjoy retirement in basic comfort with the Seychelles Pension Fund

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Others

• Provident Fund and Pension Schemes (Caribbean Community / CARICOM): CARICOM's regional policy and coordination work touches national pension schemes across member states including Seychelles-adjacent systems — relevant as a regional ecosystem body shaping comparable small-state pension administration.
• Central Bank of Seychelles: The Central Bank of Seychelles is the domestic financial regulator and macroeconomic steward overseeing the SCR currency and pensions regulation — an ecosystem participant directly relevant to SPF's operating environment and investment policy framework.

Direct peers

• National Pensions Fund (NPF) Mauritius: Mauritius's National Pensions Fund is a mandatory, state-administered pension scheme for private-sector employees in a small island developing economy — directly comparable in scope, regulatory framework, and demographic profile to the Seychelles Pension Fund.
• National Insurance Scheme (NIS) Trinidad and Tobago: The Trinidad and Tobago NIS is a statutory social security scheme providing retirement, survivor, and invalidity benefits funded by mandatory contributions — comparable to SPF as a small-state national pension program with similar benefit structure and population scale.
• National Insurance Board (NIB) Bahamas: NIB administers The Bahamas' mandatory National Insurance Scheme covering employed and self-employed persons — closely analogous to SPF as a small-island-state statutory pension fund operating on a pay-as-you-go basis.
• National Social Security Authority (NSSA) Zimbabwe: NSSA administers Zimbabwe's national pension and social insurance scheme — a statutory body similar to SPF that collects mandatory contributions and pays retirement, survivor, and invalidity benefits across an African labor force.
• National Social Security Fund (NSSF) Kenya: NSSF Kenya is a mandatory, statutory social security/pension scheme collecting employer and employee contributions to deliver retirement and other benefits — directly comparable to SPF as a national defined-contribution/benefit pension administrator serving formal sector workers in an African economy.
• Fiji National Provident Fund (FNPF): FNPF is a statutory provident/pension fund collecting mandatory contributions from Fiji's workforce — analogous to SPF in serving a small Pacific/island population with a government-mandated retirement savings scheme.
• Social Security Board (SSB) Turks and Caicos: SSB Turks and Caicos administers the islands' mandatory social insurance program — directly comparable to SPF as a small Caribbean/Commonwealth statutory pension scheme with compulsory contributions and broad benefit coverage.

Regional players

• National Social Security and Welfare Corporation (NSSWC) - Saint Lucia: St Lucia's national social security scheme operates in a small Caribbean island state — analogous regulatory and demographic context to SPF though primarily serving a different Caribbean jurisdiction.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCoLEw-RdzMkPoK4wwmixLbA
• Facebookfacebook.com/seychellespension.fund.7
• LinkedInlinkedin.com/company/seychelles-pension-fund

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SEYCHELLES PENSION FUND