The Seychelles Pension Fund is officially opening the first Multi-storey car park and offices in Victoria on Friday 29th January at 2.30 pm under the name “Maison Collet”. Mr. Danny Faure, Vice President of the Republic is the guest of honour and the event coincides with the 10th anniversary of the Seychelles Pension Fund.

The ground plus four building was constructed by Allied Builders and designed by Tirant and Associates. The construction lasted for 14 months from March 2014 until December 2015. Budgeted at 140 million rupees, Maison Collet is a combination of multi-storey car park facilities and office premises. At a rate of SCR 400 per sqm inclusive of service charge for the offices, the Seychelles Pension Fund expects a 9.15% rate of return on this investment with a payback period of 11years.

The parking facilities is situated on the first three levels. The first two floors can cater up to 50 cars whilst the third floor can provide parking to 54 cars making a total of 154 parking spaces. The ground floor parking facilities is for public parking and visitors to the building and will be chargeable by the hour with the first hour being free. Thereafter a fee is applicable for payment depending on how long the vehicle is parked. On the other hand the first and second floor parking is reserved for tenants on monthly basis. The associated fees chargeable for pay parking are per slot at Sr. 800.00 per month. Whilst all other floors of the building can be accessed through lift and staircase, there is no lift access to the second level parking. The parking facility is restricted to vehicle below 1.9 m high. Seychelles Pension Fund will have parking attendants stationed at the parking to assist members of the public until 10 pm daily.

The Maison Collet will also house the Ministry of Fisheries and Agriculture and the Seychelles Revenue Commission on 3rd floor and 4th floor respectively. The two organisations will be sharing the 3rd floor, while the Seychelles Revenue will occupy the entire 4th floor.

Why the name Maison Collet

The primary objective of the Seychelles Pension Fund it to ensure that its members retire in basic comfort. This noble social cause was shared by Charles Evariste Collet a brilliant scholar who studied at St Louis College but was not awarded with a scholarship despite his remarkable performances. He subsequently studied law and was called to the Bar in 1943. He is known for constantly pleading for social reforms and working for the poor working class in Seychelles. Upon his return in 1947 he became Attorney-General whereby he transformed Seychelles by introducing modern laws reforming the tax system and improving the living conditions of Seychellois.

The Seychelles Pension Fund is now in its 10th years of existence. Its aim is to continue to provide financial security to its members, the Seychellois workers, on retirement to live in basic comfort or to their close dependents in case of death before and after retirement. It provides pensions on retirement, in case of disability and to qualified surviving spouses and children in case of death of members before and after retirement and benefit to dependents or heirs where the member does not have children or surviving spouse and through a lump sum payment equivalent to their contribution for those who eventually do not qualify for a pension

The Fund is a cost sharing retirement system supported by contributions from employers and employees (including the self-employed) and by the income generated by investment of those contributions. This investment is an addition to the successful investments in Pension Complex on Praslin, The La Passe Pension House on La Digue. The Fund has successfully ventured in the Unity House and Providence Warehouse on Mahe. The Fund expects to announce the opening of its forthcoming residential apartments in the very near future.