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.
The scheme is flexible
The amount of pension you receive later is not fixed. It depends – for example - on your contributions and investment results. And on the choices you make. You can read more about what is arranged in case of death or occupational disability further on.
Do It yourself right away
In my-Shell pension, you review the options for your pension. You will immediately see the impact on your screen: how much capital you have accrued for your pension and what you can expect later. My-Shellpension is also where you receive all your digital correspondence.
Make these choices:
- How much investment risk do you want to take (risk profile)?
- Do you want to adjust your flexible contribution?
- Turning 58? Then you also make a preliminary choice for your pension benefit.
- Do you want to transfer pension from a previous employer (value transfer)?
Check your contact details and whether your partner is registered with us.
What choices do you have?
Now that you are employed by Shell, you can make a number of important choices regarding your pension. Below you will find an overview of the choices you can make right now.
We invest your pension capital in line with the risk profile that you choose. Taking a lower risk means more certainty, but there is a smaller chance of a high pension. The opposite applies in the event of higher risk: your pension could be higher but it is also less secure. You can change the risk profile at any time in my‑Shell Pension(opens in new window). Haven't made a choice? Then we will invest based on the medium risk profile. Read more on the page about the risk profile.
Shell pays a 21% contribution to your pension. Your contribution is added to Shell’s contribution: the default employee contribution is 7%; 2% is your fixed contribution and 5% your flexible contribution. You yourself decide whether you want to increase or reduce this flexible contribution from a minimum of 0% to a maximum of 7%. You can change your flexible contribution via Workday(opens in new window) at any time (view the manual (pdf)(opens in new window)). If you do not make a choice, your flexible contribution will be 5%. The compulsory fixed contribution is always 2%, even if you choose a different flexible contribution. Want to know how this will affect your pension? Or the impact on your salary? Then use the calculation tool.
In the year you turn 58, you will be asked to make a preliminary choice between a fixed or variable pension benefit. You can only purchase a fixed benefit from an external insurer. Your benefit will depend on the conditions of the insurer in question. We arrange a variable benefit for you. Variable means that we continue investing for you. Your pension will then not be fixed, but you can profit from the investments. This is called Collective Variable Pension (CVP).
This is called a value transfer or transfer of accrued pension rights. Check whether transferring your pension value is beneficial in your situation. You can compare the different plans with Pension 1-2-3.A new job is a logical time to do this for many people. But you can make this choice at any time, as long as you have not retired yet. You can request a transfer of accrued pension rights via my‑Shell Pension(opens in new window).
What has been arranged if your die or become incapacitated for work?
What if you die while you are in the employment of Shell?
Then your partner and children (if you have any) will be entitled to a pension. This means that they will receive a benefit if you die.
What happens if your are incapacitated for work?
You will often leave Shell, either entirely or in part, after 2 years. Have you stopped working for Shell? And are you receiving a benefit? We will start to pay Shell’s contribution and your fixed contribution. The amount we pay depends on the percentage of your incapacity for work.
A WIA benefit is paid in the Netherlands (WIA: Wet werk en inkomen naar arbeidsvermogen or Work and Income (Capacity for Work) Act. If you are abroad, we only look at the percentage of your incapacity for work. For more information about the percentages and rules, see page about incapacity for work.
For all the agreements, see the pension regulations (pdf)(opens in new window).
Pension at Shell
Find out everything about your pension plan at Shell Netherlands Pension Fund (SNPS).
