President Danny Faure yesterday assented to eight pieces of legislation approved by the National Assembly. These included the –
The amendments to the Pension Fund Act will provide for greater flexibility in the retirement age after 60, and for the withdrawal of voluntary pension contributions upon reaching the age of 55. It will also provide for benefits for certain categories of dependants upon the death of the parent or guardian who had contributed to the pension fund, as well as for a surviving live-in spouse.
The other Acts assented to by the President will enable Seychelles to be compliant with the BEPS (base erosion and profit shifting) framework of the OECD, which will contribute to greater international confidence in the country's financial risk assessment.