Shell Net Pension Scheme

The Shell Net Pension Scheme enables you to accrue a pension on the part of your salary above the statutory fiscal maximum for your scheme. For the exact amount applicable for you, see the Pension 1-2-3.If you would like a better insight into your pension straight away, log into my-Shell pension.

Your Shell Net Pension Scheme
You pay a monthly contribution out of your net salary. To this end you will receive a gross reimbursement from Shell. The maximum contribution you are allowed to deposit is age-related. With this contribution you save towards your personal pension capital.

If you die while employed by Shell, provisions will be made for your partner and/or children under the Shell Net Pension Scheme too. If you become disabled, this will not affect your accrual of pension capital. In this situation, the pension provisions in place with your basic pension scheme will apply too.

We invest for your pension
Your contributions will be invested in accordance with a life cycle profile of your choice: neutral, offensive or defensive. You decide how much risk you want to take. You can arrange this via my-Shell pension. If you would like to know more about how we invest your contributions, read about our investment policy and responsible investment.

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Read the Pension 1-2-3
The Pension 1-2-3 sets out what is covered by the Shell Net Pension Scheme and what is not. Some examples of the information provided follow below:

  • How you accrue pension capital
  • How much you accrue
  • What your partner or children will receive if you die
  • Which costs we incur
  • What the risks are.

You will automatically become a participant of the Shell Net Pension Scheme
If your salary is higher than the fiscal maximum for your scheme, you will automatically become a participant of the Shell Net Pension Scheme. Your employer will inform you of this well in advance.

If you do not wish to participate, let us know
Please complete the Opt-out form on HR-net to let us know if you do not wish to participate in the Shell Net Pension Scheme. You will find this form at the bottom of the Downloads page. If you have a partner, he/she will need to agree with your decision not to participate too. He or she can do this by signing the Partner agreement to Net pension opt-out form. We need both signatures to be able to opt you out of the Shell Net Pension Scheme. Once signed, simply add the Partner agreement to Net pension opt-out form to your Opt-out form on HR-net. If you choose not to participate, you will receive the allowance as a net amount.

We deduct taxes and contributions
You pay income tax over the pension contribution for the Shell Net Pension Scheme first. The pension benefit that you receive from the retirement date is not taxed. In the basic pension scheme of SNPS and SSPF, this is exactly the opposite: you do not pay income tax over the contributions now, while you do need to pay income tax over your future pension benefit.

Do you want to re-join the Net Pension Scheme?
It is possible to re-join the scheme after opting out. The reinsurer will require medical guarantees for this. Unfortunately, you can only fill in the Dutch version of the health declaration. You can use the English translation of the health declaration for reference. After completion, send your Dutch document to:

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

After the health declaration has been approved, you have to fill in the Opt in form and add the confirmation regarding your health declaration. You can find this at the bottom of the Downloads  page. Send it to HR Operations via HR Online.

From the age of 58 you can participate in the Collective Variable Pension (CVP)
From the age of 58 you can make a preliminary choice for receiving a fixed or variable pension in the future. If you opt for a variable pension, you will start participating in the Collective Variable Pension (CVP).