Act 30 2022 - Act 30 - 2022 - Seychelles Pension Fund (Amendment) Act 2022
AI-assisted research summary: This Act updates the Seychelles Pension Fund Act by redefining “retirement” and “retirement age,” and allowing the Minister to make regulations for early retirement in certain cases.
[30th Dec e m b e r 2 0 2 2 ] Seych e lles Pension Fund (Amendment) Act 623 REPUBLIC OF SEYCHELLES SUPPLEMENT TO OFFICIAL GAZETTE ACT SEYCHELLES PENSION FUND (AMENDMENT) ACT, 2022 (Act 30 of 2022) I assent Wavel Ramkalawan President 29th December, 2022 AN ACT TO AMEND THE SEYCHELLES PENSION FUND ACT (CAP 220). ENACTED by the President and the National Assembly. Short title 1. This Act may be cited as the Seychelles Pension Fund (Amendment) Act, 2022. [30th Dec e m b e r 2 0 2 2 ] Seych e lles Pension Fund (Amendment) Act 624 REPUBLIC OF SEYCHELLES SUPPLEMENT TO OFFICIAL GAZETTE ACT Amendment of section 2 2. Section 2 of the Seychelles Pension Fund Act, (Cap 220) (hereinafter referred to as the “principal Act”) is amended by — (a) repealing the definition of “retirement”; (b) inserting in the proper alphabetical order the following new definitions — “retirement” means retirement from regular employment and presumes that the person’s normal or habitual level of occupational activity has ceased or largely ceased; “retirement age” means the age of retirement prescribed under this Act or any other written law;’’. Amendment of section 68 3. Section 68 of the principal Act is amended as follows — (a) by renumbering section 68 as section 68.(1); (b) in paragraph (a) by deleting the word “and” and inserting after the word “amounts” the words “ , the conditions and”; (c) by reordering paragraph ‘e’ as ‘(d)’ and deleting the full stop at the end and substituting therefor “;”; (d) by inserting after paragraph (d) as reordered the following paragraph — “(e) for prescribing the age of retirement.”; (e) by inserting after section 68.(1) the following — “(2) Upon the coming into operation of this Act, any change in the retirement age in respect of any member who [30th Dec e m b e r 2 0 2 2 ] Seych e lles Pension Fund (Amendment) Act 625 REPUBLIC OF SEYCHELLES SUPPLEMENT TO OFFICIAL GAZETTE ACT would have been eligible to receive a pension but for the coming into operation of this Act, the Minister may, by way of regulations prescribe a mechanism to cater for the early retirement of such a member. ”. I certify that this is a correct copy of the Bill which was passed by the National Assembly on 7th December, 2022. Mrs. Tania Isaac Clerk to the National Assembly