Registered artisanal fishers across the country are invited to enroll in the Fishers Pension Scheme starting in April 2025. This initiative, announced by Minister of Finance, National Planning and Trade Naadir Hassan during the 2025 national budget presentation, aims to formalize small-scale fisheries.

The policy guidelines for the scheme are currently being finalized following extensive consultations with stakeholders. A total of six informative meetings have been held—four on Mahé, one on Praslin, and one on La Digue. These interactive sessions aimed to educate and encourage both young and elderly fishers to apply for the new scheme.

During a press conference held on Monday 27^th January 2025, the Minister of Fisheries and the Blue Economy, Mr. Jean Francois Ferrari, explained that this initiative has come to fruition thanks to collaborative efforts between the Ministry of Fisheries, the Seychelles Fisheries Authority (SFA), and the European Union. “After extensive negotiations with the EU, we secured funding of SCR 500,000 to launch the scheme for its first year, with plans to adjust the budget for long-term sustainability. For every contribution made by fishers, the EU has agreed to match that amount,” Minister Ferrari noted.

To qualify for the scheme, fishers—including boat owners—must be registered with the SFA. Currently, there are between 500 and 600 registered fishers.

Once registered for the scheme, fishers will be required to contribute 5%, which amounts to SCR331.67, based on the national minimum wage of SCR6633.47. They can choose to make monthly or quarterly payments.

“We want the scheme to offer as much flexibility as possible to accommodate the working conditions of the sector. Therefore, we have made provisions that allow fishers to delay their contributions for up to six months. When they resume their activities, they will have the chance to gradually catch up on any missed contributions,” Minister Ferrari added.

Efforts to formalize fisheries-related activities through such initiatives aim to encourage more youth to join the industry while ensuring that fishers can retire with dignity. Like all other beneficiaries of pension schemes, fishers will need to contribute for a ten-year period, or a total of 20 years, to qualify for benefits upon retirement at the official age of 65.