Frequently asked questions

my-Flex planner

On my-Flex planner you can see the consequences of the choices that you make for your pension. Before, the calculator only let you do this for your pension with SSPF. Now you can calculate it for your SNPS pension too. You are literally in control. For example:

  • Fulltime or part-time retirement.
  • (Partial) exchange of retirement pension for partner’s pension.
  • Stop working now and retire later.
  • What it means for your pension if you leave service.

If you are 55 years or older you may submit your final  pension choices via my-Pension application. Watch the short animation for further explanation.

The percentages for the higher or lower pension choice are laid down in the pension scheme rules. We use the same percentages in my-Flex planner, my-Pension application and our correspondence. Although in the pension scheme rules the distribution is explained differently, the outcome is the same. See the following sample calculation:

Highest pension 100
Lowest pension 75
Difference 25
Difference expressed as percentage of lowest pension 33.3% (=25/75)
But also: lowest pension is 75% of the highest 75% (=75/100)

The pension scheme of a number of participants consists of components that my-Flex planner can't calculate. When clicking on my-Flex planner, a message will appear on your screen. If this is the case for you, please contact the customer service team for a personal calculation.

my-Pension application

If you are 55 years or older, you can enter and print your SSPF pension choices to apply for your pension. It is a part of your personal portal: my-Shellpension.

You can use my-Flex planner for orientation on your pension choices. You can calculate the effects of all options, without any obligations. Once you have determined your pension choices, you can enter your choices on my-Pension application.

The choice to continue working part-time and retire part-time is currently not available in my-Pension application. It will be added in the future. Do you wish to retire part-time? Then please contact us for a personal tailor-made pension calculation.

For now, my-Pension application is only available for the average salary scheme of SSPF (Stichting Shell Pensioenfonds).

Collective Variable Pension

The CVP (Collective Variable Pension) is an expansion of the SNPS pension, both for the basic pension scheme as well as for the Shell Net Pension Scheme. SNPS members from 58 years participate in the CVP as standard. Participation is not compulsory: you can also decide to buy a fixed pension from an external pension provider. The CVP does not apply to the part of your salary if you participate in the SSPF pension scheme (average salary).

In your case, the CVP only applies if you also participate in the Shell Net Pension Scheme. If your net pension has not yet started, you still need to decide whether or not you wish to participate in the CVP with that part of your pension. It makes no difference whether you have retired (early) at SSPF.

If you have left Shell, contributions will no longer be paid for you to accrue your pension. But: for your pension at SNPS you can still participate in the CVP. You will make a provisional choice for this on your 58th birthday. On your retirement date, or at the latest on your 68th birthday, you will make a final choice.

The entitlements in the CVP are variable and are settled once per year with the achieved returns or results. In the CVP, the accrued pension of participants is invested collectively. Participants also share the risks of death and longevity with each other. As the achieved results in the CVP are processed in a diversified way, this reduces the risk of a large shock in your pension payment. This distribution of results is explained in 'Distribution of results over 5 years’, a video in which we explain the impact of the achieved annual results on the pension in the CVP.

If you have pension with SNPS, you can opt for a fixed or variable pension. If you participate in the CVP, your pension capital will gradually be converted into pension entitlements in the CVP and be invested in accordance with the collective CVP investment mix. If you select the CVP on your retirement date, you will receive a variable pension from SNPS. If you do not select for the CVP, you will use your pension to purchase a pension with an external pension provider on your retirement date. You will continue to accrue pension until your retirement date and invest in accordance with the risk profile you have selected.

You make a provisional choice for the CVP on your 58th birthday. On your retirement date or at the latest on your 68th birthday, you can still decide not to continue with the CVP. It is not possible to stop with the CVP between your 58th birthday and your retirement date. Please also note: if you stop on your retirement date, all outstanding positive and negative results will be settled in 1 go.

To cover the administrative expenses, an amount is deducted from the CVP result each year. Until 1st April 2022, this deduction is a maximum of 0.1% of the assets invested for you in the CVP. Shell pays the remaining administrative expenses. After this date, this cost system will be examined again in consultation between the employer and the Central Works Council. The system could then be adjusted but it could also remain unchanged. If you were to purchase a fixed payment externally, all expenses would be settled immediately at the start of your participation.

Your pension entitlement in the CVP is invested according to the fixed CVP investment mix. This is 1 mix with a fixed division of 35% securities (such as shares) and 65% fixed values (such as bonds). The CVP investment mix is not tailored to your personal circumstances, but is designed specifically for the collective and your (nearly) retirement phase. The SNPS Board determines the CVP investment mix carefully. This takes place with support from a legally prescribed and thorough 'Asset and Liability Management' study (ALM).

The Board repeats the ALM study regularly - in any event every 3 years - and examines whether, as a consequence of the result of the ALM study, the CVP investment mix needs to be adjusted. Investments are made in institutional investment funds. These funds charge less than investment funds for private individuals. Please visit your personal portal for more information about the CVP investment mix.

We are obliged to use the performance on fixed income securities and shares supplied by the DNB. For prognoses, the same performance needs to be used every year. In the 'best case' scenario, this is around 4% annually on fixed income securities and over 10% on shares. In the 'estimated' scenario, this is around 1% annually on fixed income securities and 3% on shares. In the 'worst case' scenario, this is around -1.5% annually on fixed income securities and -6% on shares. The 'worst case' scenario gives information on what could happen if results are negative. The CVP does not give any guarantee on a minimum benefit. All results are shared collectively.

Before your retirement, the partner’s and orphans’ pension at SNPS is covered on a risk basis. Your participation in the CVP has no consequences for this coverage. If you die after your retirement date, your partner will receive a variable partner’s pension, except if you swapped the partner’s pension on your retirement date for a higher retirement pension.

No further contributions will be paid. The pension capital that you have accrued at SNPS will remain invested for you. This will have no further consequences for your (possible) participation in the CVP. If you opt to participate in the CVP, we will convert a part of your pension capital annually into pension entitlement in the CVP until you retire.

No, it is not permitted to make voluntary contributions in the CVP. SNPS makes maximum use of the fiscal options offered by the Tax Authorities to fill in the CVP scheme. There is no fiscal space left next to the contributions already paid (by employer and employee).

Personal portal

On your personal portal my-Shell pension you will find all the pension information you need, all in one convenient place. We will provide you with comprehensive information on your pension situation, and you can also make any changes when needed. For each change we will explain what consequences this will have for your pension. We also explain how changes to your job or personal situation could potentially affect your pension. My archive contains an overview of your personal documents. When you log in on my-Shell pension for the first time, you can watch the welcome video.

This personal portal is intended only for you. When you log in, this tells us who you are. It serves as your digital passport.

Yes, you can! You can fully access your personal portal from your desktop, notebook or tablet. For smartphone access, we have slightly adjusted the screen layout, so the content can also be viewed on a small screen.

We receive your details from different bodies. Your name will be provided to us by your employer. We receive your residential address and your civil status from the Persons Database. You cannot change these details yourself. However, you can change your preferred language, your email address and your correspondence address using your personal portal.

Shell Net Pension Scheme

The government has set a fiscal maximum on the annual income over which you can accrue pension from your basic pension scheme. This maximum is redefined each year. For the amount that applies to you visit SSPF or SNPS or check your Pension 1-2-3.

Wage tax first needs to be paid over the pension contribution for the Shell Net Pension Scheme. Conversely, the pension payment is untaxed from the retirement date. This is exactly opposite in a gross pension scheme, such as the basic pension scheme from SNPS and SSPF. You do not pay any wage tax over the contributions. However, you will pay wage tax over the pension payment you receive.

If you participate in the Shell Net Pension Scheme, your partner is also covered for the part of your salary that is above the fiscal maximum for your scheme. Should you die during your employment at Shell, your partner will receive a partner’s pension. For the portion of your salary up to the fiscal maximum, this is a gross payment. For the portion of your salary that is above this maximum, the partner’s pension is paid out net.

If you become disabled, you will receive a disability pension equal to your salary. This will include any part of your salary that is over and above the fiscal limit, regardless of whether you are participating in the Shell net pension scheme or not.

If you are participating in the Shell net pension scheme, you will continue to accrue pension on the part of your salary that is over and above the fiscal maximum for your scheme. You will do this on a non-contributory basis.

If you are not participating in the Shell net pension scheme, you will continue to accrue pension on a non-contributory basis, up to the fiscal maximum for your gross scheme.

No, the scheme is voluntary. We have assumed that you will wish to participate. If you do not want this, you are required to notify us of this. You can inform us via the Opt-out form on HR net. The Shell Net Pension Scheme makes maximum use of the options in the fiscal legislation for pension saving from your net income. Your contribution will be allocated for your pension, without deduction of general administration expenses or profit margins. SNPS is non-profit-making.

If you are eligible for the Shell Net pension scheme, you will automatically participate. If you do not want this, or if you want to stop your participation, you will have to inform us yourself via the Opt out form. Your partner must agree with your choice and complete and sign the 'Approval Partner Opt Out Net Pension’ form too. Scan this form and add it to the Opt out form. The contributions paid by you will remain reserved for the Shell Net Pension Scheme and will not be paid out yet. You can choose to opt in or opt out once per year.

You can decide to opt in again if you have opted out in the past. The reinsurer will ask you to provide medical guarantees as part of this process. Unfortunately you have to complete the Dutch version of this health declaration (pdf) and send it to the following address. Please use the English health declaration (pdf) just to clarify the Dutch version.

MEDISCH GEHEIM
Centraal Beheer Achmea t.b.v. SNPS netto pensioenregeling
Expertiseteam - Locatie AG 1B
Antwoordnummer 297
7300 VB APELDOORN
The Netherlands

Once your health declaration has been approved, complete the Opt in form and send it and the approval of your health declaration to HR Operations via HR Online.

You can opt in or out once a year.

No, it is not possible to participate partially. You participate for your entire salary portion above the maximum of your scheme, or you chose not to participate.

If you are eligible for the Shell Net Pension Scheme, you will receive a gross monthly allowance from Shell. If you live outside the Netherlands, you will receive a net allowance. After deduction of the Dutch 51.75% tax rate, the remaining amount will be grossed up according to the local tax rate that applies. This allowance will then be invested net in the Shell Net Pension Scheme. If you do not participate in the Shell Net Pension Scheme, this allowance will be paid to you.