Investment markets
Equity and bond returns swing from year to year with the economy; the Fund's balance tracks that.
Crediting Rate
The annual return credited to member accounts, declared by the Board after each financial year.
The crediting rate is the percentage return added to your SINPF account balance each financial year. It is set by the Board after the Fund closes its books for the year, based on how much the Fund's investments earned, net of costs and reserves.
If your balance was SBD 10,000 at the start of the year and the Board sets a 6% rate, your balance grows to SBD 10,600 before any new contributions are added.
Investment income from equities, bonds, property, and cash across the year flows into the Fund.
Operating costs and reserves are deducted from gross earnings, leaving net investment income available for members.
The Board reviews the net result and decides on a rate that's prudent and sustainable over the long term.
The agreed percentage is added to every active member's balance at the end of the financial year.
Crediting rates vary from year to year, reflecting the Fund's investment performance in that specific year. The chart groups rates into economic eras; the table below has every year.
1998–1999 Years leading up to the Tensions.
2000–2003 Period of civil unrest; rates fell toward the statutory floor.
2004–2009 Economic recovery and major equity revaluations.
2010–2026 Current period including COVID impact and recovery.
| Fin Year | Credit Rate |
|---|---|
| 2026 | 5.50% |
| 2025 | 8% |
| 2024 | 4% |
| 2023 | 6% |
| 2022 | 2.65% |
| 2021 | 6% |
| 2020 | 3.70% |
| 2019 | 8.50% |
| 2018 | 6.50% |
| 2017 | 5.31% |
| 2016 | 10% |
| 2015 | 10% |
| 2014 | 15% |
| 2013 | 20% |
| 2012 | 6% |
| 2011 | 8.75% |
| 2010 | 5% |
| 2009 | 2.70% |
| 2008 | 18% |
| 2007 | 18% |
| 2006 | 4% |
| 2005 | 2.50% |
| 2004 | 2.60% |
| 2003 | 2.50% |
| 2002 | 3% |
| 2001 | 2.50% |
| 2000 | 6.50% |
| 1999 | 8% |
| 1998 | 7.50% |
Three forces shape the annual rate — none of them individually determines the outcome.
Equity and bond returns swing from year to year with the economy; the Fund's balance tracks that.
The Board can hold back a portion of a strong year's gains to support rates in a weak year, so a down year doesn't always mean a zero rate.
Rates are set to be sustainable over the long term, not maximised for any single year.
Past crediting rates are published on this page as a record of what the Fund has credited historically. They are not a promise or forecast of future rates. The Board sets each year's rate on the basis of that year's investment performance; a strong past year does not mean a strong future year, and a weak past year does not mean a weak future year.