Your pension at SNPS
Are you working at Shell?
And did you enter service after 1 July 2023? Then you accrue pension with Shell Nederland Pensioenfonds Stichting (SNPS).
Your pension is a flexible contribution scheme.
You and Shell both pay contributions. We set that contribution aside and invest it for you. By doing so, you accrue your own capital for your pension. The scheme is flexible: the pension payment you get later depends, for example, on the amount you contributed and the investments results. And on the choices that you make. Would you like to retire early? Then the funds have to be paid over a longer period, lowering your benefits. Read more about how the capital is accrued in the pension regulations (pdf).
How do you accrue capital for your pension?
You and Shell pay monthly contributions
The contribution is a percentage of your pension base: the part of your salary on which you accrue pension. And on which the contribution (premium) is calculated.
- Shell pays 21% of your pension base.
- You pay 2%, your fixed employee’s pension contribution.
- In addition, you pay a flexible contribution:
- By default, this is 5%
- You can adjust your flexible contribution between 0 and 7%.
We invest your contribution
By doing this, you accrue capital for your pension. You choose your own risk profile. That profile determines how much risk we take on investments: lower risk, medium risk or higher risk. We will reduce the risk level within your risk profile as you get closer to your retirement date. This is called life-cycle investing.
Collective Variable Pension
In the year you turn 58, you will be asked to provisionally choose between a fixed or variable pension. You will make your final choice when you retire. You can arrange a fixed pension yourself with an external insurance company. The variable pension is called Collective Variable Pension (CVP). This means among other things that we continue investing. Also after your retirement. With the aim of increasing your pension in the long run. For that reason, your benefits can each year be higher or lower. You can read more about this on the Collective Variable Pension (CVP) page.
Other choices
There are more choices you can make for your retirement. For example, the moment to retire. You can find all the choices at retiring soon.
What else has been arranged for you?
Premium exemption on incapacity for work
We pay the contribution if you are disabled: waiver of contribution. We will then pay Shell's contribution of 21% plus your fixed contribution of 2% of your pension base. You will not get a waiver of contribution for your flexible contributions. The waiver of contribution depends on the percentage of your incapacity for work. You can read more about the percentages and rules at incapacity for work.
Pensions for your partner and children if you pass away.
Your partner and children, if any, will be entitled to a benefit if you pass away while you are in the employment of Shell.
Frequently check my-Shell Pension
At my‑Shell Pension you can see your pension in different situations. It also lets you make choices and change your details:
- Viewing your capital and making sample calculations. For example, to see what happens if you retire at an earlier or later date.
- Adjusting your risk profile.
- Changing your email address or phone number. You remain easily accessible with your private contact details.
Please note
Want to change your employee’s contribution? Do this via Workday, Shell’s HR system. Want more information about an AOW bridging pension? Then please contact us.
Want to know more?
Would you like more information about your pension at Shell? Then check our pension regulations (pdf). Questions? Please contact us, we are happy to help you!
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