Fishing pension scheme formalised
EU contributes to fishers’ pensions
SEYCHELLES: The new Fishers’ Pension Scheme has been formalised with the signing of a Memorandum of Understanding between the Seychelles Fisheries Authority (SFA), the Ministry of Fisheries and the Blue Economy, the Seychelles Pension Fund and the Ministry of Finance, National Planning and Trade.
The scheme is designed for fishers aged 18 to 55 years. Under this plan, fishers will contribute half of their pension contribution, while the other half will be provided by the EU Sectoral Fund. This means that fishers will make a monthly contribution of SCR 354.90, which the SFA will match using funds from the EU Sectoral Fund.
This pension scheme is specifically for artisanal fishers who are registered with the SFA. It aims to encourage fishers to voluntarily contribute to their pensions, enabling them to look plan their retirement. There are currently about 500 registered fishers eligible for the scheme
During the signing ceremony, the Minister for Fisheries and the Blue Economy, Jean-Francois Ferrari, expressed his satisfaction with the efforts made to establish the scheme. “This moment crowns the extensive efforts made behind the scenes. It is one of my proudest achievements for the fishing community, as it elevates the status of fishers.”
The CEO of the SFA, Dr Jan Robinson stated that SFA will continue to publicise the scheme when fishers come to register and explain the steps that they need to follow to enrol. “SFA has long maintained the registration system for fishermen, so it is not something new. Now, with the scheme, we will be working closely with the Pension fund and share the necessary information to make sure the scheme benefits the fishers most at need.”
The MoU will remain in effect for a period of seven years.
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