Variable or fixed pension benefit
Under the pension scheme of SNPS (Shell Nederland Pensioenfonds Stichting) you accrue an individual pension capital. With this capital you purchase a fixed or variable pension on your retirement date. The choice applies to both your retirement and partner’s pension.
You select the Collective Variable Pension (CVP)
In the year you turn 58 you can apply provisionally for participation in the Collective Variable Pension (CVP) scheme. You will then start with the annual purchase of collective entitlements and receive a variable pension benefit as of your retirement date. You continue to achieve investment returns on your pension capital after your retirement date. At your retirement you take a final decision about participation in the CVP scheme.
You do not select the Collective Variable Pension (CVP)
You will continue to accrue pension as before. On your retirement date you are given a final option to participate in the CVP scheme. If you still not wish to opt for the CVP, you will have to use the pension capital to purchase a fixed pension benefit with an external insurance company. The pension administrator you choose can inform you of the various options.
What do you have to do to arrange your pension?
In the year you turn 58 you will receive a selection form for the CVP scheme in which you confirm the annual gradual conversion of individual capital to collective entitlements. We will send you another selection form 6 months before your retirement date on which you can indicate your final selection for participation in the CVP scheme or a fixed pension benefit with an external insurance company.
Would you like to retire early?
If so, please contact us at least 6 months before you want to retire. If you're retiring before the age of 58, you won't be eligible to participate in the Collective Variable Pension when you turn 58.