Pension options

Shell contributes 21% of your pension base; the part of your salary on which you accrue pension. And on which the contribution (premium) is calculated. We take into account the state retiremen pension (AOW) you will receive later.

You also contribute yourself: your personal employee’s pension contribution. That consists of 2 parts:

1. Fixed contribution: always 2% of your pension base. This is mandatory.
2. Flexible contribution: by default 5%, but you can choose between 0% and 7%.

Do you want to know how a different flexible contribution affects your pension?

Our calculation tool makes it quick and easy to see how your contribution will impact your future pension. The tool also shows how this affects your gross income.

To change your flexible contribution, use Workday(opens in new window) (view the manual (pdf)(opens in new window)).

We invest your pension capital according to your risk profile. Lower risk offers more certainty but less chance of a higher pension. Higher risk is the opposite: potentially higher pension, but less certainty. You can change your profile at any time in my‑Shell Pension(opens in new window). If you don’t choose, we invest according to the medium profile. Read more about investing for your pension. Each year, we gradually reduce risk as your retirement date approaches – this is called life cycle investing.

In the year you turn 58, you make a preliminary choice for a variable or fixed pension.

• Variable pension: can change annually because we continue investing. This gives a chance of a higher pension but also the risk of a lower one. We spread results over five years to avoid large fluctuations. This is called Collective Variable Pension (CVP).
• Fixed pension: you use your capital for pension to buy an annuity from an external insurer.

You make your final choice at retirement, at the latest by age 68 (the standard retirement age). If you don’t choose, you automatically receive a variable pension – for both preliminary and final choice.

You can choose to retire earlier or later than age 68.

• Earliest: 10 years before your current AOW date.
• Latest: 5 years after your expected AOW date.

Your expected AOW date is shown on svb.nl(opens in new window). You do not accrue extra pension after age 68.

If you retire before your AOW age, you can receive a higher pension until AOW starts, and then a lower pension afterwards. Want more information or a calculation? Contact us. The AOW bridging pension is is not available in my‑Shell Pension.

You can choose partial retirement: semi-retirement, working part-time and retiring part-time. Or you can choose full retirement.

If you choose a variable payment under Collective Variable Pension (CVP), you can also choose a fixed annual increase or decrease:

• Fixed increase: start lower, increase by 1% each year.
• Fixed decrease: start higher, decrease by 1% each year.

We set your payment annually on 1 July, based on investment results plus or minus the 1% adjustment.

At retirement, you choose whether to use your capital only for your own pension or also for a lifelong partner’s pension. Your partner then receives a payment after your death. You make this choice together with your partner. You can see the impact of this option in my‑Shell Pension(opens in new window) using the Flexplanner.

The cost of partner’s pension insurance is paid from your capital for pension. If you insure a lifelong partner’s pension, your own pension will be lower. If you don’t, your pension will be higher.