Follow us on:

Facebook Twitter LinkedIn YouTube


SPF registers best ever performance from investment income in 2019 | 31 March 2020

The Seychelles Pension Fund (SPF) registered its best ever surplus of R129 million in 2019, with the highest net investment income of R53 million and the highest amount collected in voluntary contributions of R28 million, since its inception 13 years ago.

This is the highlight of SPF’s comprehensive 2019 Annual Report that was handed over by chief executive Lekha Nair to the Minister for Finance, Trade, Investment and Economic Planning, Maurice Loustau-Lalanne, in a short ceremony yesterday at Liberty House.

The annual report also looks at the important issues affecting the Fund over the last twelve months, together with full details about its performance in administering the pensions in the country, while the audited Financial Statements of SPF recorded a growth of 6% in its total net assets that is now worth R3.3 billion at the end of the financial year 2019.

The net surplus of investment income over investment expenses and administrative costs was recorded at R53 million, and together with surplus income of R76 million from contributions over pension payments, the total surplus for the year was R129 million. This is13% higher than 2018 and again the highest surplus made so far by SPF.

In terms of contributions collected and pensions paid out, 2019 has also been a year showing the highest for both. While on the contributions side there was a 21% increase over last year with R423 million collected due mostly to contribution rate having increased, a similar 21% increase was also noted in benefits paid out in 2019, with the highest amount of R347 million paid.

2019 saw a record number of 43,715 contributors which represented 96% of the total work force in the country. The total number of pensioners also increased by 8%. This is lower than in previous years, possibly due to the flexible retirement age which came into force in 2019 whereby members can opt to retire anytime from 60 years onwards.

The Financial Statements were prepared under the International Financial Reporting Standards and was audited by the Auditor General, who outsourced the audit to Pool and Patel Chartered Accountants.

Now that the audit is completed, SPF is pleased to inform its members that their statement of accounts for the year 2019 will be dispatched individually as customary. In addition, this year, members wishing to access their statement of accounts online, may do so on the newly introduced online portal of SPF through its website However, members need to register with SPF first by calling on our hotline number 2609666, for security purposes. Once they are registered they will have access anytime to view their member accounts and contributions paid to SPF on

SPF requests all members to check the correctness of their statements and to call the same hotline number 2609666 if there are any queries.

The ceremony was kept small without the presence of the media in line with social distancing measures in the country.

SPF takes the opportunity to thank all its members and stakeholders for another good year.

The Annual Report 2019 will hereafter be submitted to the National Assembly and will be publicised on SPF’s website, as required under SPF’s Act, Section 53 (5) and (6). Members of the public can access the SPF 2019 Annual report on our website







More news