Correction of net pension scheme value statement

As a member of SNPS, you receive a value statement every quarter. This statement shows your contribution and the development of your pension capital. The value statement for the fourth quarter of 2020 was sent at the end of January. Unfortunately, a human error was made for active members of the net pension scheme. Do you participate in the net pension scheme? If so, then you should have received a corrected value statement in the meantime.

No change to the current value of your pension capital
The opening and final balances of your pension capital are always correctly displayed in all the statements. This is the amount that is available for purchasing a pension in the future and has not changed.

What was displayed incorrectly?
Every month, you pay a contribution from your net salary. From this available contribution, an amount is withdrawn and used for the contribution for risk insurance policies (a partner’s pension if you have a partner, and a contribution waiver in case of occupational disability). The remaining sum – in other words the available contribution minus the contribution for the risk insurance policies – is invested for you.

In the value statement issued on 28 January, a lower value was displayed for the net available contribution. The contributions for the risk insurance policies had already been deducted.

As a result of this error, the investment results for that quarter were also displayed incorrectly. Of course, we sincerely regret this mistake and have already undertaken measures to prevent this from happening again in the future.

View the current value of your pension capital
Please note that the value of your investments can change on a day-to-day basis. The results of the calculations on the value statement only represent a snapshot in time. You can find the current value of your capital on my-Shell Pension.