Your pension overview

Please note: this page is about the standard pension overviews.

Are you accruing a pension with SNPS or participating in the Net Pension Plan? Then you will receive different overviews this year around the transition to the new pension scheme. You can read all about it in the news item

Illustration tablet and screens with graph

Do you know how much pension you are entitled to?

Every year, you receive a Uniform Pension overview (UPO) from us.

Your UPO gives you an overview of your pension with Shell. Your UPO is available on my‑Shell Pension, your personal portal.

my‑Shell Pension

How is my pension estimated?

If you participate in the SNPS pension scheme, we invest the defined contribution for you. Each year you accrue a part of your pension capital with this contribution. The total value of the investments constitute your pension capital, and you use it to purchase a pension on your retirement date. It is uncertain how much pension you will receive. The value of the investments could change and the pension that you will be able to purchase depends on your total pension capital, the interest rate and life expectation upon your retirement.

Shell Pension invests for the long term

The Shell pension funds are long-term investors. Although we closely monitor daily changes, our investment strategy stays focused on the long term. We make sure that the investment portfolios are well-diversified and robust, while also taking short-term fluctuations into account.

The current market movements are not favourable, but they are not a reason for Shell Pension to react hastily and change the investment portfolio. We are, of course, monitoring the situation with additional focus and high frequency. The funds have plans ready in case the market movements lead to greater or long-term impact. For now, no changes are being made to the investment strategy.

For more information about our investment policy, please view the investment policy of SSPF(opens in new window) or SNPS here.

Check how much pension you are expected to receive

Your Uniform Pension Overview shows you once a year how much pension capital you have accrued and how much pension you are expected to accrue. You also see an estimate of how much pension you are expected to receive from the pension fund in the future. The expected level of your pension in this UPO is based on scenarios from the Dutch Central Bank (DNB). The scenarios are based on a set of future economic expectations. The expected level of your pension is based on scenarios from De Nederlandsche Bank (DNB). These scenarios assume a set of future economic expectations. DNB adjusts the scenarios every year. This may affect your expected pension compared to last year. Check the current balance of your SNPS capital at my‑Shell Pension

my-Shell pension

Good to know

Below you can read the most important information about your pension overview and what you can find in it.

If you (or your partner) worked abroad for Shell up to and including 2006, you may have accrued AOW compensation. This was a scheme where Shell paid the contributions for the missed accrual of state pension (AOW). The amounts in the UPO take the AOW compensation into account. You will automatically receive this AOW compensation when you retire and reach the applicable statutory retirement age. You do not have to apply for AOW compensation yourself. The AOW compensation is an old scheme and may differ from the current statutory retirement age. Please contact us if you want to know if this scheme also applies to you.

Would you like to know more about the factor A for your tax return? We have created a list of questions and answers (pdf)(opens in new window) about the factor A.

Your UPO always reflects the balance as at January 1st of that year. At my-Shell pension under My retirement pension at... you can also see the expected level of your pension on your retirement date. At my-Shell pension you always see the most recent estimates. This explains the difference between the amounts on your UPO and at my-Shell pension.

On the UPO you see what happens with your pension if economic circumstances are weak or strong. You see an estimate of your expected pension in those circumstances. When making this estimate, we also looked at possible increases or decreases in prices.

Video mijnpensioenoverzicht.nl

Watch the video of mijnpensioenoverzicht.nl(opens in new window) (MPO) for an explanation of the different scenarios:

Text continues after the video

Also good to know

Further useful information about your pension overview and how to use it.

You participate in the Shell Net Pension Scheme if your salary exceeds the tax limit. This limit has not increased in 2025

Do you participate in the SSPF gross pension scheme (employed before 1 July 2013)? In that case, you participate in the Net Pension Scheme in 2025 if you earn more than € 123,886.
Do you participate in the SNPS gross pension scheme (employed on or after 1 July 2013)? In that case, you participate in the Net Pension Scheme in 2025 if you earn more than € 123,886.

Are you accruing pension in the Net pension scheme? Your UPO shows the net premiums paid for the calculation of your annual margin. This is based on the data we received from your employer. The annual margin is the amount that the government allows you to use to accrue extra pension in a tax-friendly way. In case you are accruing less pension than allowed by the government, you have annual scope to accrue extra pension. Would you like to calculate your annual margin? Then use the 'Rekenhulp Lijfrentepremie' for annuity premium on Belastingdienst.nl(opens in new window). Or ask a financial advisor to help you.

The amounts on your Uniform Pension Overview (UPO) from Shell and the amounts in mijnpensioenoverzicht.nl(opens in new window) (MPO) are not entirely the same. That is because the basis for their calculation is different:

UPO: shows gross amounts - MPO: shows net amounts.
UPO: only uses data from the Shell pension plan - MPO: shows all pensions (except for net pension plans).
UPO: uses the retirement age at Shell in the calculations - MPO - your pension is calculated as of the state retirement date ('AOW-datum').
UPO: is issued once per year - MPO: is updated four times per year.

The Uniform Calculation Method (URM) is a standard way to calculate pension expectations. This method is used by all pension administrators in the Netherlands. The URM makes it easier for participants to compare pension expectations between pension funds and pension providers. The calculation is based on 3 scenarios.

Optimistic scenario: shows how much pension you could receive if everything goes well.
Expected scenario: provides a realistic expectation of your pension.
Pessimistic scenario: shows how much pension you could receive if things go wrong.

The URM can change annually

Economic changes such as inflation, interest rates, and economic growth vary annually. This affects your future pension expectations. Sometimes the URM calculation method is adjusted to better reflect reality. Or new rules or laws are adopted that require adjustments to the URM calculation. If the calculation of the URM is adjusted, the pension expectation may change in optimistic, expected, and pessimistic scenarios.

Pension at Shell

Find out everything about your pension plan at Shell Netherlands Pension Fund (SNPS).

Your pension at SNPS

Are you working at Shell? And did you enter service after 1 July 2013? Then you accrue pension with Shell Nederland Pensioenfonds Stichting (SNPS).

Pensioen 1-2-3 SNPS layer 1 and 2

Layered information about your pension. Pensioen 1-2-3 contains the pension regulations in a more simple language. Layer 1 is a short summary, layer 2 is a more eleborate description and layer 3 contains the official documents.

Downloads SNPS

Pensioen 1-2-3 contains the pension regulations in a more simple language. Layer 1 is a short summary, layer 2 is a more eleborate description and layer 3 contains the official documents. You are now at layer 3. You can also go (back) to layer 1 and 2.

What is a pension?

Your pension is your income for later. Your income after retirement can consist of 3 parts: State retirement pension (AOW) – a benefit from the government. The pension you build up through your employers (Shell and any previous employers). The pension you arrange yourself, for example through an annuity or savings.

Insight in your pension

Always access. Via my‑Shell Pension, you always have access to your pension information.

Collective Variable Pension

What is Collective Variable Pension? You will preliminary choose a fixed or variable pension at age 58. In addition, we also adjust benefits for your partner and children after your death with the results of the CVP. Those results are more than just investments. On this page, you can read all about your choice and how the CVP works.

Transfer of accrued pension rights

Did you have another employer before you started working for Shell? And did you accrue pension through that employer or other employers? If so, you could ‘transfer’ this pension to us, Shell Nederland Pensioenfonds Stichting (SNPS). We call this a transfer of accrued pension rights. You can do so at any time. But many people think about this carefully when they change jobs. You can ask your new pension fund or insurer to have the value of your pension transferred. We also call it: pension provider.

Newsletters

Our newsletters keep you informed of your pension and your pension fund. Find the most recent editions below. Would you like to receive them directly in your mailbox? Then simply submit your private email address through my‑Shell Pension.

New employee

Welcome to Shell! You will accrue pension via Shell Nederland Pensioenfonds Stichting (SNPS). The pension scheme is tailored to the choices that you make. Shell, the employer, and you pay a contribution every month. We invest this contribution for you. By doing this, you accrue your own capital for your pension.

Retiring soon

Your retirement is getting closer. There are a number of choices you can make when your retirement is getting closer. Read more about this on this page.

Your pension benefit

When will you receive your pension? If you live in the Netherlands you will automatically receive a monthly pension benefit once your pension application has been finalised. You do not need to do anything yourself; Are you living abroad? If you live abroad you have to deal with other regulations To receive your pension benefit, you will need to submit a ‘Life Certificate’ once a year.

Pension abroad

Payment to a foreign country. We can also pay your pension into a foreign bank account if you live abroad. It often involves additional fees from the bank. If so, we will share those costs with you and deduct them from your benefits.

AOW bridging pension

Early retirement? If you are going to retire before AOW age (state retirement age), you will not receive state retirement benefits from the government. An option is to increase the AOW bridging pension: benefits until your AOW date.

Overview

Choices for your pension