Seychelles – Pension Fund Act

(Act No 8 of 2005)

Arrangement of Regulations

Section

Part I – Preliminary

1. Short title and commencement
2. Interpretation

Part II – General

3. Application for pension, gratuity or allowance
4. Supporting evidence etc.
5. Nomination of beneficiary
6. Time limit for claim
7. Use of Voluntary Contribution as a guarantee

Part III – Retirement Pensions

8. Entitlement to Retirement Pension
9. Salary that is to be used for self-employed member’s pension
10. Salary that is to be used for member who is not working at retirement
11. Application for retirement pension
12. Rates of pension for members who retired or turned 63 year old during the year 2005
13. Payment of voluntary contributions by lump sum on retirement or included in retirement pension

Part IV – Pre And Post Retirement Death Gratuities

14. Pre retirement death gratuity
15. Post retirement death gratuity
16. Application for pre or post retirement death gratuity

Part V – Migration Allowance

17. Entitlement to migration allowance
18. Rate of allowance payable
19. Application for migration allowance
20. Member who returns from migration to start contribution afresh

Part VI – Permanent Incapacity Pension

21. Entitlement to Incapacity Pension
22. Rates of Incapacity Pension payable
23. Member who does not qualify for incapacity pension
24. Application for incapacity pension
25. Review of refused applications

Part VII – Surviving Spouse’s Pension

26. Entitlement to Surviving Spouse’s pension
27. Rates of Surviving Spouse’s pension payable
28. Election by member
29. Application for Surviving Spouse’s pension
30. Circumstances in which a surviving spouse’s pension shall cease or not be granted or varied

Part VIII – Children’s Pension

31. Entitlement to Children’s pension
32. Rates of Children’s pension
33. Payment of Children’s pension to guardian
34. Application for Children’s pension

Part IX – Payment Of Pensions, Gratuities And Allowances

35. Payment of pensions, gratuities and allowances
Schedule 1 – Monthly rates of payment for retirement pension
Schedule 2 – Monthly rates of payment based on voluntary contributions
Schedule 3 – Monthly rates of payment for incapacity pension Schedule 4 – Monthly rates of payment for surviving spouse’s pension Schedule 5 – Monthly rates of payment for children’s pension
Schedule 6 – Life Certificate

Seychelles Pension Fund (Benefits) Regulations, 2005

In exercise of the powers conferred by section 68 of the Seychelles Pension Fund Act, 2005 the President, acting as the Minister responsible for Finance hereby makes the following Regulations –

Part 1 – Preliminary

1. These Regulations may be cited as Seychelles Pension Fund

(Benefits) Regulations, 2005 and shall come into operation on 1st January 2006.

2. In these Regulations –

“approved form” means a form provided by the Chief Executive Officer, or such other form which the Chief Executive Officer may in any particular case approve, for the purpose of claiming a gratuity, allowance or pension under these Regulations;
“business” means a business in terms of the Business Tax Act; “child” means –
(a) a legitimate child;
(b) a natural but recognised child; (c) an adopted child;
(d) a child pursuant to an affiliation order of a court or the Family Tribunal; or
(e) a child whose paternal descent has been proved under Article 340 of the Civil Code
of a member, who is under 18 years old or who is under 25 years old and still in full time education;
“children’s pension” means a monthly pension payable to a child of a deceased member or the guardian of the child for the maintenance of the child;

Citation and commencement

Interpretation

(i) any person to whose care a child is committed under or by virtue of a court or the family tribunal order; and

(ii) any person who , in the opinion of a court or the family tribunal for the time being has daily charge of or control over a child;

“invalid” means a person who in the opinion of the Medical Board is incapable of work as a result of a disease or bodily injury which is likely to remain permanent;
“maintenance or maintaining” means contributing to the household expenses and/or daily needs of an applicant, financially or otherwise, as one of the main contributors to the aforesaid expenses and needs and contribution in this definition includes being the main person, doing the laundering, cooking or cleaning for a member or caring for his child, without being paid any salary for the aforesaid services ;
“prescribed retirement age” means the prescribed age for retirement under the Social Security Act (Cap 225)
“salary” means remuneration in money payable in respect of employment including any supplementation and commuted allowances attached to the post.

Part II – General

Application for pension, gratuity or allowance

3.(1) A application for a pension, gratuity or allowance shall be made in an approved form and within the time limits specified in these Regulations.

4. A person applying for a pension, gratuity or allowance shall, in addition to any certificate, document or evidence he is required to furnish under any other provision of these Regulations, furnish such other certificate, information and evidence as the Chief Executive Officer may require in any particular case, and shall, if reasonably required, attend at such place and time as the Chief Executive Officer may require, for the purpose of the determination of the claim.

5.(1) A member making any nomination under these Regulations may nominate one or more persons to be paid his benefits in accordance with these Regulations in the event of the member’s death prior to his retirement .

(2) The nomination shall be made in the approved form attested by 2 adults other than the other than a nominee.
(3) A nomination may be changed at any time but the last nomination shall always supersede the earlier one whether formally revoked or not.
(4) A member who makes any voluntary contributions to the Fund , may at any time prior to his death subject to Regulation 7, nominate in the approved form any person to be entitled to his voluntary contribution if any, standing to his credit in the Fund at the time of his death prior to his retirement and such nominated person shall be entitled to the aforesaid contribution upon the member’s death prior to his retirement .
(5) Where a member fails to make any nomination under subregulation (4), his heirs shall subject to regulation 7, be entitled to any voluntary contribution, standing to his credit in the Fund .

Supporting evidence etc.

Nomination

of beneficiary

Time limits for claim

Use of voluntary contribution as a guarantee

Entitlement to Retirement Pension

6.(1) Where an application for a pension, gratuity or allowance is referred back to the applicant because it is defective, incomplete or without the supporting documents, the applicant shall provide the required information and re-submit the application for consideration before it can be processed.

(2) Where upon an application, the Chief Executive Officer wishes to be fully satisfied that a application, allegation or statement made is genuine, he may carry out an investigation to obtain proof of the said allegation or statement

7. Where a member has notified the Chief Executive Officer in writing of his or her decision to use his voluntary contribution as a security for a housing loan or a loan for medical treatment and provided the Chief Executive Officer with details of the loan transaction, if the loan has not been repaid in full at the time of his death or retirement, the voluntary contribution shall not be refunded or taken into account for calculation of the member’s retirement pension under regulation 13 until proof is provided to the Chief Executive Officer of the discharge of the loan.

Part III – Retirement Pension

8.(1) A member who qualifies for a retirement pension under section 33 of the Act shall, if he has resided in Seychelles for continuous period of at least 5 years immediately prior to his retirement unless such requirement is waived by the Board, be entitled to a retirement pension for life upon retirement at the age of 60 or above, calculated on the member’s average salary for last 5 years preceeding his retirement and payable in accordance with Schedule 1.

(2) A member referred to in subregulation (1) shall, upon his application for his retirement pension under these Regulations being granted, be simultaneously entitled to the retirement pension provided for under the Social Security Act notwithstanding that he may not have attained the prescribed retirement age.
(3) Where a member who is above the age of 51 years old and is either a registered or licensed self-employed person at the time of coming into operation of the Act and remains so employed until retirement but however at the time of retirement does not qualify for a retirement pension due to not having contributed to the Fund or Social Security Fund for the minimum period referred to in section 33 of the Act, the member shall be entitled to a retirement pension in accordance with Schedule 1, subsidised with funds provided from the Consolidated Fund:
(4) Where a member has been drawing more than one salary per month prior to retirement, his retirement pension shall be based on the average of the highest monthly salary earned over the period of five years preceding retirement.

9.(1) Where a member has left employment and thereafter within a period of 90 days commenced his or her own business as a registered or licensed self employed person, within less than 5 years prior to retirement, his retirement pension shall be based on the average of his declared salary he was earning for the last five years as a self-employed person and an employee.

(2) Where a self employed member does not declare a salary, the monthly average salary for determining his retirement pension shall be the average yearly profit declared with the Taxation Division for business tax calculation during the period of 5 years preceding retirement divided by 12.
(3) Where no such profit has been made or no such record is available, the average monthly salary for the purpose of calculating the retirement pension shall be R2.000.

10. Where a member who already qualifies for a pension under section

33 of the Act, leaves employment and thereafter does not take up any employment no further contributions are made to the Fund, until his retirement, the member shall on retirement be entitled to a retirement pension based on his average salary he was earning for the last five years as an employee or as a self-employed person prior to leaving employment.

11.(1) An application for retirement pension shall be made in the approved form to the Chief Executive Officer within 10 years from the date of the member’s retirement accompanied by the following documents –

(a) Birth certificate;
(b) Member’s salary details for the past five years; (c) National Identity Card;
(d) Retirement letter from employer or Certificate of employment.

Salary that is to be used for self-employed member’s pension

Salary that is to be used for member who

is not working

at retirement

Application

for retirement

Pension

Rates of pension for members who retired or turned 63 years old

during the year

2005

Payment of voluntary contributions by lump sum on retirement or included in retirement pension

12.(1) Pursuant to section 41 of the Act a member of the Seychelles Pension Scheme who retired during the year 2005 shall be deemed to have retired on the 1st of January 2006 and shall with effect from January 2006 be entitled to a retirement pension –
(a) at the rate of R.400 if the member has already been refunded his mandatory contributions by the Seychelles Pension Scheme; or
(b) in accordance with Schedule 1 based on his average salary for the last 5 years prior to retirement if the member has not already been refunded his mandatory contributions by the Scheme or having already been refunded his mandatory contributions, the member pays back to the Fund his mandatory contributions that he had been refunded.
(2)Where a member of the Seychelles Pension Scheme who attained the prescribed retirement age, prior to the coming into operation of the Act but continued in employment he shall upon retirement be entitled to a retirement pension in accordance with subregulation (1)(a) or (1)(b) as the case may be .

13.(1) Subject to Regulation 7, a member shall be entitled to receive his voluntary contributions standing to his credit in the Fund with any interest thereon in a lump sum upon –

(a) retirement ; or
(b) attaining the prescribed retirement age

Part IV – Pre And Post Retirement Death Gratuities

14. (1) Where a member dies prior to retirement and does not qualify for a retirement pension under section 33 of the Act and at the time of his death he has a surviving spouse, his spouse and in the absence of a surviving spouse, his children if any shall subject to regulation 7 be entitled to a pre-retirement death gratuity equivalent to the sum of the member’s mandatory and voluntary contributions standing to the member’s credit in the Fund at the time of his death together with any interest thereon.

(2) Where a member dies prior to retirement whether or not he qualifies for a retirement pension under section 33 of the Act and at the time of his death he has no spouse, or children, his nominated beneficiary, or if he has not made any nomination, his dependant if any who he has been maintaining for at least 3 years prior to his death and in the absence of any of the aforementioned, his heirs shall subject to regulation 7 be entitled to a pre-retirement death gratuity equivalent to the sum of the member’s mandatory and voluntary contributions standing to the member’s credit in the Fund at the time of his death together with any interest thereon..

15. Where a member who was receiving a retirement pension dies his surviving spouse shall subject to regulation 7 be entitled to a post-retirement death gratuity equivalent to one month of the deceased member’s retirement pension.

Provided that if immediately prior to his death the deceased member was maintaining his legally married spouse and at the same time maintaining another spouse, the legally married spouse shall be the one entitled to the post-retirement death gratuity

16.(1) An application for a pre or post retirement death gratuity shall be made in the approved form to the Chief Executive Officer within 10 years of the members death accompanied by the following documents –

(a) Death certificate of member or a certified copy thereof;

Pre retirement death gratuity

Post retirement death gratuity

Application

for pre or post- retirement

death gratuity

(b) (c)

National Identity Card of the applicant;

Copies of any will or power of attorney of the deceased

member if any; and

(d)

An affidavit in support of the application if the applicant is not the nominated beneficiary.

(2)

The

supporting affidavit shall state the relationship of the applicant

to the deceased member, and in the case of the applicant being a dependant, how
and for how long has the deceased member been maintaining the applicant.
(3) A pre or post-retirement death gratuity shall become payable within
21 days from the date that it is applied for.

Part V – Migration Allowance

Entitlement to migration allowance

Rate of allowance payable

Application for migration allowance

17. A member may apply for a migration allowance if the member has migrated or is about to migrate from Seychelles to another country as a permanent resident of that country before retirement

18. The migration allowance shall subject to regulation 7 be the sum standing to the member’s credit in the Fund on the date of migration inclusive of both mandatory and voluntary contributions and interest thereon.

19.(1) An application for a migration allowance shall be made in the approved form within 3 months prior to migration or at any time after migration but in any event within 10 years of the member attaining the prescribed age accompanied by the following documents –

(a)

(b)

National Identity Card of the member ;

Resident certificate or permit of the member in respect of

the country to which he is migrating ;

(c)

Certified copy of the member’s passport.

(e)

An affidavit in support of the application

(2)

The

supporting affidavit shall state the decision of the member to

migrate, or the fact that the member has already migrated to a specified country, the
address of the member in the country of migration, any offer of employment the member has there, or such other proof of residence in the country of migration.

20. A member who has been paid a migration allowance under this Part shall not be entitled to a retirement or incapacity pension nor shall his spouse or children be entitled to a surviving spouse pension or children’s pension as the case may be unless the member has rejoined the fund after his migration and thereafter contributed a minimum of ten years continuous contribution to the Fund immediately prior to retirement or an aggregated of 20 years of contribution to the Social Security Fund prior to retirement notwithstanding that the member may have qualified for the aforesaid pension prior to his migration.

Part VI – Permanent Incapacity Pension

21. A member who prior to attaining 60 years old is certified by a Medical Board appointed under the Act to be an invalid, and who at the time of certification notwithstanding his age qualifies for a retirement pension under section

33 of the Act, shall be entitled to an incapacity pension for life or for such period as the Medical Board may recommend.

22.(1) The incapacity pension shall be based on a percentage of the member’s average salary for the period of five years prior to being certified an invalid under regulation 21 as stipulated in Schedule 3 to these Regulations

(2) In the case of a self employed member ,the salary to be used for calculation of his incapacity pension shall be calculated in accordance with regulation 9.
(3) In the case of a member who at the time of invalidity is unemployed but who nevertheless notwithstanding his age qualifies for a retirement pension under section 33 of the Act, the salary to be used for calculation of his incapacity pension shall be based on the salary he was earning for the last five years as an employee or as a self-employed person prior to stopping work.
(3) A member who at the time he attains retirement age is already receiving an incapacity pension, shall continue to receive such a pension and shall not be entitled to a pension under the Social Security Act nor to a retirement pension under this Act.

23.(1) Where a member who has been certified an invalid under regulation

21 does qualify for a retirement pension under these Regulations, he may be referred for an invalidity pension under the Social Security Act and he shall upon attaining the age of 60 subject to regulation 7 be entitled to his mandatory and voluntary contributions standing to his credit in the Fund at the time of his invalidity together with any interest thereon, as a lump sum payment.

Member who returns from migration to start contribution afresh

Entitlement to Incapacity Pension

Rates of Incapacity Pension payable

Member who does not qualify for incapacity pension

Application for Incapacity Pension

Review of refused applications

Entitlement to Surviving Spouse’s Pension

24.(1) An application for an incapacity pension shall be made in the approved form to the Chief Executive Officer at any time during the period that a member has been certified an invalid accompanied by the following documents –

(a) National Identity Card of the member ; (b) Medical Board’s certificate of invalidity;
(c) Certificate of employment and in the case of a self employed member, a certified copy of registration or licence and certificate of business tax payable over the 5 year period prior to being an invalid;
(2) An incapacity pension shall become payable within 21 days from the date that it is applied for and no incapacity pension shall be backdated notwithstanding that the applicant became entitled to it prior to making the application.

25.(1) Any member whose application for an incapacity pension has not been approved may subject to subregulation (2) request a review or re-apply, after a period of two years from the date the application was refused .

(2) A request for a review or a re-application may be allowed earlier if in the opinion of the Chief Executive Officer, the medical condition of the member is such that it is likely to seriously affect the ability of the member to work.
(3) If, after a member has been declared an invalid it becomes apparent that the member’s health has improved, the member shall be referred back to the Medical Board for review and if the Board finds that the member is no longer an invalid, the person shall cease to draw the incapacity pension.
(4) Notwithstanding subregulation (3) the Fund shall not refer any case for a review under subregulation (3) if the member is 50 years old or more.

Part VII – Surviving Spouse’s Pension

26.(1) Subject to regulation 31, a surviving spouse, of a deceased member who dies prior to retirement and at the time of death notwithstanding his age qualifies for a retirement pension under section 33 of the Act, shall be entitled to a surviving spouse’s monthly pension for life:

27.(1) Subject to subregulation (2) the surviving spouse pension shall be of an amount equal to 80% of the full retirement pension that the deceased member would have been entitled to on retirement as per Schedule 4 based on the deceased member’s average salary for the 5 year period prior to his death calculated in accordance with regulations 8, 9 or 10 as the case may be :

Provided that if the surviving spouse of a deceased member is over 10 years younger than the deceased member, the surviving spouse shall be entitled to only
70% of the retirement pension as aforesaid.
(2) Where the deceased member has any children, the surviving spouse shall be entitled to a pension of only half of the amount stipulated in subregulation (1) or such smaller amount as per the deceased members’s election in accordance with regulation 28.

28.(1) A member who has children, may at any time prior to his death, elect in the approved form to have the surviving spouse’s pension payable upon his death reduced to any amount between 25% to 49 % of the amount stipulated in regulation 27(1) and to have the amount by which the surviving spouse’s pension has been reduced added onto his children’s pension under regulation 31

(2) Where at the time of death of a member, who has made an election under subregulation (1), he has no children, the surviving spouse if any shall be entited to a full surviving spouse’s pension as per regulation 27(1).

29.(1) A application for a surviving spouse’s pension shall be made, on the approved form to the Chief Executive Officer within 10 years of the death of a member supported by the following documents –

(a) National Identity Card of the applicant;

Rates of Surviving Spouse’s Pension payable

Election by member.

Application for Surviving Spouse’s Pension

Circumstances in which a surviving spouse’s pension shall cease , not be granted or varied

30.(1) A surviving spouse’s pension shall not be granted or shall cease in the following circumstances –

(a) If the deceased member’s death occurs before three years of cohabitation in the case of the surviving spouse not being married to the deceased member ;
(b) If the surviving spouse was at the time of the death of the deceased member cohabiting with another partner other than the deceased;
(c) Upon the surviving spouse remarrying for a second time ;
(d) If the surviving spouse has been convicted of for any offence which caused the death of the deceased;
and the children of the deceased if any shall be eligible for a full monthly pension in accordance with Part VIII .
(2) If at any time after a surviving spouse has started drawing a full pension in accordance with regulations 27(1) and 28(2), a child, of the deceased member, who qualifies for a pension under Part VIII makes a claim for a children’s pension under the aforesaid Part, the surviving spouse’s pension shall be reduced to half or such smaller amount in accordance with regulation 27(2) or 28(1) with effect from the approval by the Fund of the children’s pension for the new child.

Part VIII – Children’s Pension

Entitlement to Children’s Pension

Rates of Children’s Pension

Payment of Children’s Pension to guardian

Application for Children’s Pension

31. (1) Subject to regulation 26, a child, of a deceased member who dies prior to retirement and at the time of death notwithstanding his age qualified for a retirement pension under section 33 of the Act, shall be entitled to a children’s monthly pension until 18 years old or up to 25 years old if the child is still in full time education or up to 15 years old if the child is in full time employment and earns a salary of not less than R 1,900 a month.

32.(1) Subject to subregulation 2 the children’s pension shall be of an amount equal to 80% of the full retirement pension that the deceased member would have been entitled to on retirement as per Schedule 5 based on the member’s average salary at the time of death calculated in accordance with regulations 8, 9 or

10 as the case may be :
(2) Where the deceased member has a surviving spouse, the child shall be entitled to a pension of only 40% of the full retirement pension or such bigger amount as per the deceased members’s election in accordance with regulation 28.
(3) Where there is more than one child of the deceased member who qualify for a children’s pension, the amount stipulated in subregulation (1) or (2) shall be divided equally amongst all the said children.
(4) If at any time after a child has started drawing a pension, another child of the deceased member who qualify for a pension under regulation 33 makes a claim for a children’s pension, the pension of the child who was already drawing a pension shall be adjusted accordingly to take account of the new child .
(5) If at any time after a child has started drawing a reduced pension in accordance with subregulation (2), the surviving spouse ceases to be entitled to a surviving spouse’s pension under regulation 30 the pension of the child shall be entitled to a full children pension distributed in accordance with subregulation (3).

33 A children’s pension shall be paid to the guardian of the child if the child is below the age of 18 years old and to the child if he is 18 years old or above.

34.(1) An application for children’s pension shall be made on the approved form to the Chief Executive Officer within a period of 10 years from the death of the member supported by the following documents –

(a) National Identity Card of the applicant;
(b) National Identity Card of the guardian in the case that the application is being made by the guardian on behalf of the child;

(c)

Certificate of death of deceased member;

(d)

Proof of guardianship

(e)

Proof that the child is a child of the deceased ;

(2)

A guardian of a child below 18 years old may make the

application for a children’s pension on behalf of the child.
(3) A children’s pension shall become payable within 21 days from the date that it is applied for and no children’s pension shall be backdated notwithstanding that the child became entitled to it prior to the application being made.

Part IX – Payment Of Pensions, Gratuities And Allowances

35.(1) The Fund shall unless otherwise authorised under regulation 3(3) make payment of a pension, gratuity or allowance to the applicant or to the guardian in the case of a pension being due to a child under 18 years old –

(a) by bank cheque; or
(b) by direct transfer to the applicant’s bank account; or
(c) by cash.
(2) Payment of a pension gratutity or an allowance shall be made within 21 days of an application for the same being lodged with the Fund, unless the investigation to determine the eligibility of the applicant is more complex than normal and extra time is needed to process the application in which case the applicant shall be so informed.
(3) Payment of monthly pension shall be made in arrears from the 20th day of the month and payment for any pension made to a pensioner who dies between the 20th day and the end of the month, shall not amount to an overpayment.
(4) Where a member or any other person in receipt of a pension is residing overseas he shall provide proof in the form of a life certificate as specified in Schedule 6 to the Fund every month that he is abroad before his pension can be paid.

Payment of pensions, gratuities and allowances

Schedule 1

Regulation 8

Monthly rates of payment for retirement pension

Gross Salary

Band

(A)

Average/Mid Point

Gross Salary

(B)

Percentage of Salary payable as Pension*

(C)

Retirement

Pension payable

(D)

800-1000

1001-1200

1201-1400

1401-1600

1601-1800

1801-2000

2001-2200

2201-2400

2401-2600

2601-2800

2801-3000

3001-3200

3201-3400

3401-3600

3601-3900

3901-4100

4101-4300

4301-4500

4501-4700

4701-4900

4901-5100

5101-5300

5301-5500

5501-5700

5701-5900

5901-6300

6301-6500

6501-6700

6701-6900

6901-7100

7101-7300

7301-7500

7501-11400

11401-11600

11601-11800

1181-12000

12001-12200

12201-12400

12401-12600

900

1,100

1,300

1,500

1,700

1,900

2,100

2,300

2,500

2,700

2,900

3,100

3,300

3,500

3,900

4,000

4,200

4,400

4,600

4,800

5,000

5,200

5,400

5,600

5,800

6,300

6,400

6,600

6,800

7,000

7,200

7,400

11,400

11,500

11,700

11,900

12,100

12,300

12,500

70% or R2000

whichever is the greater*

70%

70%

70%

70%

65%

65%

65%

65%

65%

65%

65%

65%

65%

65%

65%

60%

60%

60%

60%

60%

60%

60%

40%

40%

40%

40%

40%

40%

40%

400

400

400

400

400

400

400

400

400

400

430

570

710

850

935

1,000

1,130

1,260

1,390

1,520

1,650

1,780

1,910

2,040

2,170

2,180

2,240

2,360

2,480

2,600

2,720

2,840

2,960

3,000

3,080

3,160

3,240

3,320

3,400

12601-12800

12801-13000

13001-13200

13201-13400

13401-13600

13601-13800

13801-14000

14001-14200

14201-14400

14401-14600

14601-14800

14801-15000

15001-15200

15201-15400

15401-15600

15601-15800

15801-16000

16001-16200

16201-16400

16401-16600

16601-16800

16801-17000

17001-17200

17201-17400

17401-17600

17601-17800

17801-18000

18001-18200

18201-18400

18401-18600

18601-18800

18801-19000

19001-19200

19201-19400

19401-19600

19601-19800

19801-20000

20001 and above

12,700

12,900

13,100

13,300

13,500

13,700

13,900

14,100

14,300

14,500

14,700

14,900

15,100

15,300

15,500

15,700

15,900

16,100

16,300

16,500

16,700

16,900

17,100

17,300

17,500

17,700

17,900

18,100

18,300

18,500

18,700

18,900

19,100

19,300

19,500

19,700

19,900

20,000

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

3,480

3,560

3,640

3,720

3,800

3,880

3,960

4,040

4,120

4,200

4,280

4,360

4,440

4,520

4,600

4,680

4,760

4,840

4,920

5,000

5,080

5,160

5,240

5,320

5,400

5,480

5,560

5,640

5,720

5,800

5,880

5,960

6,040

6,120

6,200

6,280

6,360

6,400

*Calculation of pension as a salary percentage takes into account the retirement pension provided for under the Social Security Act (Cap 225) which is currently R.1600.

SCHEDULE 2

Regulation 13

Monthly rates of payment based on voluntary contributions

Accumulated Voluntary Contributions

Average/Mid Point

Additional Retirement Pension payable

600-700

7001-8000

8001-900

9001-10000

10001-11000

1001-12000

12001-13000

13001-14000

14001-15000

15001-16000

16001-17000

17001-18000

18001-19000

19001-20000

20001-21000

21001-22000

22001-23000

23001-24000

24001-25000

25001-26000

26001-27000

27001-28000

28001-29000

29001-30000

30001-31000

31001-32000

32001-33000

33001-34000

34001-35000

35001-36000

36001-37000

37001-38000

38001-39000

39001-40000

40001-41000

41001-42000

42001-43000

43001-44000

44001-45000

45001-46000

6500

7500

8500

9500

10500

11500

12500

13500

14500

15500

16500

17500

18500

19500

20500

21500

22500

23500

24500

25500

26500

27500

28500

29500

30500

31500

32500

33500

34500

35500

36500

37500

38500

39500

40500

41500

42500

43500

44500

45500

54

63

71

79

88

96

104

113

121

129

138

146

154

163

171

179

188

196

204

231

221

229

238

246

254

263

271

279

288

296

304

313

321

329

338

346

354

363

371

379

Note:

Calculation of pension based on voluntary contributions is based on an average life expectancy of 73 years old. Accumulated voluntary contributions in excess of Rs. 222,000/- shall be calculated on the same basis..

SCHEDULE 3

Monthly rates of payment for incapacity pension

Regulation 22

Gross Salary

Band

(A)

Average/Mid Point

Gross Salary

(B)

Percentage of Salary payable as Pension*

(C)

Incapacity

Pension payable

(D)

800-1000

1001-1200

1201-1400

1401-1600

1601-1800

1801-2000

2001-2200

2201-2400

2401-2600

2601-2800

2801-3000

3001-3200

3201-3400

3401-3600

3601-3900

3901-4100

4101-4300

4301-4500

4501-4700

4701-4900

4901-5100

5101-5300

5301-5500

5501-5700

5701-5900

5901-6300

6301-6500

6501-6700

6701-6900

6901-7100

7101-7300

7301-7500

7501-11400

11401-11600

11601-11800

1181-12000

12001-12200

900

1,100

1,300

1,500

1,700

1,900

2,100

2,300

2,500

2,700

2,900

3,100

3,300

3,500

3,900

4,000

4,200

4,400

4,600

4,800

5,000

5,200

5,400

5,600

5,800

6,300

6,400

6,600

6,800

7,000

7,200

7,400

11,400

11,500

11,700

11,900

12,100

70% or R2000

whichever is the greater*

70%

70%

70%

70%

65%

65%

65%

65%

65%

65%

65%

65%

65%

65%

65%

60%

60%

60%

60%

60%

60%

60%

40%

40%

40%

40%

40%

2,000

2,000

2,000

2,000

2,000

2,000

2,000

2,000

2,000

2,000

2,030

2,170

2,310

2,450

2,535

2,600

2,730

2,860

2,990

3,120

3,250

3,380

3,510

3,640

3,770

3,780

3,840

3,960

4,080

4,200

4,320

4,440

4,560

4,600

4,680

4,760

4,840

12201-12400

12401-12600

12601-12800

12801-13000

13001-13200

13201-13400

13401-13600

13601-13800

13801-14000

14001-14200

14201-14400

14401-14600

14601-14800

14801-15000

15001-15200

15201-15400

15401-15600

15601-15800

15801-16000

16001-16200

16201-16400

16401-16600

16601-16800

16801-17000

17001-17200

17201-17400

17401-17600

17601-17800

17801-18000

18001-18200

18201-18400

18401-18600

18601-18800

18801-19000

19001-19200

19201-19400

19401-19600

19601-198000

19801-20000

20001 and above

12,300

12,500

12,700

12,900

13,100

13,300

13,500

13,700

13,900

14,100

14,300

14,50

14,700

14,900

15,100

15,300

15,500

15,700

15,900

16,100

16,30

16,500

16,70

16,900

17,100

17,300

17,500

17,70

17,90

18,100

18,30

18,500

18,700

18,900

19,100

19,300

19,500

19,70

19,900

20,000

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

40%

4,920

5,000

5,080

5,160

5,240

5,320

5,400

5,480

5,560

5,640

5,720

5,800

5,880

5,960

6,040

6,120

6,200

6,280

6,360

6,440

6,520

6,600

6,680

6,760

6,840

6,920

7,000

7,080

7,160

7,240

7,320

7,400

7,480

7,560

7,640

7,720

7,800

7,880

7,960

8,000

SCHEDULE 4

Regulation 27

Monthly rates of payment for surviving spouse’s pension

Gross Salary

Band

(A)

Average/Mid Point Gross Salary

(B)

Member’s Retirement Pension

(C)

Surviving Spouse’s Pension payable if spouse is younger than member by 10 years or less

(D)

Surviving Spouse’s Pension payable if spouse is younger than member by more than 10 years

(E)

800-1000

1001-1200

1201-1400

1401-1600

1601-1800

1801-2000

2001-2200

2201-2400

2401-2500

2501-2800

2801-3000

3001-3200

3201-3400

3401-3600

3601-3900

3901-4100

4101-4300

4301-4500

4501-4700

4701-4900

4901-5100

5101-5300

5301-5500

5501-5700

5701-5900

5901-6300

6301-6500

6501-6700

6701-6900

6901-7100

7101-7300

7301-7500

7501-11400

11401-11600

11601-11800

900

1,100

1,300

1,500

1,700

1,900

2,100

2,300

2,500

2,700

2,900

3,100

3,300

3,500

3,900

4,000

4,200

4,400

4,600

4,800

5,000

5,200

5,400

5,600

5,800

6,300

6,400

6,600

6,800

7,000

7,200

7,400

11,400

11,500

11,700

2,000

2,000

2,000

2,000

2,000

2,000

2,000

2,000

2,000

2,000

2,030

2,170

2,310

2,450

2,535

2,600

2,730

2,860

2,990

3,120

3,250

3,380

3,510

3,640

3,770

3,780

3,840

3,960

4,080

4,200

4,320

4,440

4,560

4,600

4,680

1,600

1,600

1,600

1,600

1,600

1,600

1,600

1,600

1,600

1,600

1,624

1,736

1,848

1,960

2,028

2,080

2,184

2,288

2,392

2,496

2,600

2,704

2,808

2,912

3,016

3,024

3,072

3,168

3,264

3,360

3,456

3,552

3,648

3,680

3,744

1,400

1,400

1,400

1,400

1,400

1,400

1,400

1,400

1,400

1,400

1,421

1,519

1,617

1,715

1,774

1,820

1,911

2,002

2,093

2,184

2,275

2,366

2,457

2,2548

2,639

2,646

2,668

2,772

2,856

2,940

3,024

3,108

3,192

3,220

3,276

11801-12000

12001-12200

12201-12400

12401-12600

12601-12800

12801-13000

13001-13200

13201-13400

13401-13600

13601-13800

13801-14000

14001-14200

14201-14400

14401-14600

14601-14800

14801-15000

15001-15200

15201-15400

15401-15600

15601-15800

15801-16000

16001-16200

16201-16400

16401-16600

16601-16800

16801-17000

17001-17200

17201-17400

17401-17600

17601-17800

17801-18000

18001-18200

18201-18400

18401-18600

18601-18800

18801-19000

19001-19200

19201-19400

19401-19600

19601-198000

19801-20000

20001and above

11,900

12,100

12,300

12,500

12,700

12,900

13,100

13,300

13,500

13,700

13,900

14,100

14,300

14,50

14,700

14,900

15,100

15,300

15,500

15,700

15,900

16,100

16,30

16,500

16,70

16,900

17,100

17,300

17,500

17,70

17,90

18,100

18,30

18,500

18,700

18,900

19,100

19,300

19,500

19,700

19,900

20,000

4,760

4,840

4,920

5,000

5,080

5,160

5,240

5,320

5,400

5,480

5,560

5,640

5,720

5,800

5,880

5,960

6,040

6,120

6,200

6,280

6,360

6,440

6,520

6,600

6,680

6,760

6,840

6,920

7,000

7,080

7,160

7,240

7,320

7,400

7,480

7,560

7,640

7,720

7,800

7,880

7,960

8,000

3,808

3,872

3,936

4,000

4,064

4,128

4,192

4,256

4,320

4,384

4,448

4,512

4,572

4,640

4,704

4,768

4,832

4,896

4,960

5,024

5,088

5,152

5,216

5,280

5,344

5,408

5,472

5,536

5,600

5,664

5,728

5,792

5,856

5,920

5,984

6,048

6,112

6,176

6,240

6,304

6,368

6,400

3,332

3,388

3,444

3,500

3,556

3,612

3,668

3,724

3,780

3,836

3,892

3,948

4,004

4,060

4,116

4,172

4,228

4,284

4,340

4,396

4,452

4,508

4,564

4,620

4, 676

4,732

4,788

4,844

4,900

4,946

5,012

5,068

5,124

5,180

5,236

5,292

5,348

5,404

5,460

5,516

5,572

5,600

NOTE: Only ½ of the amount stipulated in columns (D) and (E) or such smaller amount not less than ¼ of the amount in column (C) (as per the deceased member’s election if any) shall be payable if the deceased member has children who qualify for a children’s pension.

SCHEDULE 5

Regulation 32

Monthly rates of payment for children’s pension

Gross Salary

Band

(A)

Average/Mid Point Gross Salary

(B)

Member’s

Retirement Pension

(C)

Children’s

Pension payable

(D)

800-1000

1001-1200

1201-1400

1401-1600

1601-1800

1801-2000

2001-2200

2201-2400

2401-2500

2501-2800

2801-3000

3001-3200

3201-3400

3401-3600

3601-3900

3901-4100

4101-4300

4301-4500

4501-4700

4701-4900

4901-5100

5101-5300

5301-5500

5501-5700

5701-5900

5901-6300

6301-6500

6501-6700

6701-6900

6901-7100

7101-7300

7301-7500

7501-11400

11401-11600

11601-11800

1181-12000

12001-12200

12201-12400

900

1,100

1,300

1,500

1,700

1,900

2,100

2,300

2,500

2,700

2,900

3,100

3,300

3,500

3,900

4,000

4,200

4,400

4,600

4,800

5,000

5,200

5,400

5,600

5,800

6,300

6,400

6,600

6,800

7,000

7,200

7,400

11,400

11,500

11,700

11,900

12,100

12,300

2,000

2,000

2,000

2,000

2,000

2,000

2,000

2,000

2,000

2,000

2,030

2,170

2,310

2,450

2,535

2,600

2,730

2,860

2,990

3,120

3,250

3,380

3,510

3,640

3,770

3,780

3,840

3,960

4,080

4,200

4,320

4,440

4,560

4,600

4,680

4,760

4,840

4,920

1,600

1,600

1,600

1,600

1,600

1,600

1,600

1,600

1,600

1,600

1,624

1,736

1,848

1,960

2,028

2,080

2,184

2,288

2,392

2,496

2,600

2,704

2,808

2,912

3,016

3,024

3,072

3,168

3,264

3,360

3,456

3,552

3,648

3,680

3,744

3,808

3,872

3,936

12401-12600

12601-12800

12801-13000

13001-13200

13201-13400

13401-13600

13601-13800

13801-14000

14001-14200

14201-14400

14401-14600

14601-14800

14801-15000

15001-15200

15201-15400

15401-15600

15601-15800

15801-16000

16001-16200

16201-16400

16401-16600

16601-16800

16801-17000

17001-17200

17201-17400

17401-17600

17601-17800

17801-18000

18001-18200

18201-18400

18401-18600

18601-18800

18801-19000

19001-19200

19201-19400

19401-19600

19601-198000

19801-20000

20001 and above

12,500

12,700

12,900

13,100

13,300

13,500

13,700

13,900

14,100

14,300

14,500

14,700

14,900

15,100

15,300

15,500

15,700

15,900

16,100

16,300

16,500

16,700

16,900

17,100

17,300

17,500

17,700

17,900

18,100

18,300

18,500

18,700

18,900

19,100

19,300

19,500

19,700

19,900

20,000

5,000

5,080

5,160

5,240

5,320

5,400

5,480

5,560

5,640

5,720

5,800

5,880

5,960

6,040

6,120

6,200

6,280

6,360

6,440

6,520

6,600

6,680

6,760

6,840

6,920

7,000

7,080

7,160

7,240

7,320

7,400

7,480

7,560

7,640

7,720

7,800

7,880

7,960

8,000

4,000

4,064

4,128

4,192

4,256

4,320

4,384

4,448

4,512

4,572

4,640

4,704

4,768

4,832

4,896

4,960

5,024

5,088

5,152

5,216

5,280

5,344

5,408

5,472

5,536

5,600

5,664

5,728

5,792

5,856

5,920

5,984

6,048

6,112

6,176

6,240

6,304

6,368

6,400

NOTE: Only ½ of the amount stipulated in columns (D) or such bigger amount not more than ¾ of the amount in column (C) (as per the deceased member’s election if any) shall be payable if the deceased member has a surviving spouse who qualify for a surviving spouse’s pension.

Schedule 6

Life Certificate

Regulation 35

I certify that Mr/Mrs/Ms ………………………………………….. holder of passport No………………………… Issued by the Government ……………………………….. was present before me on ……………………………and countersigned/placed his/her mark on this certificate in my presence

Dated this……………………… day of ………………………………….. 2005

Signature of person certifying}………………………………………………….

Name:………………………..…………………….. Designation:……………………..………………… Address:……………………….…………………….

Seal:…………………………..…………………….

To be certified by one of the following persons:

1. Branch Bank Manager

2. Attorney at law or Notary Public

3. Judicial Officer

4. Medical Practitioner

5. Priest or equivalent

…………………………………

Signature or mark of pensioner

MADE this ……………….. day of ……………………………………2005.

J.A. MICHEL

PRESIDENT