Do you receive a pension benefit? Most times your pension will be increased, also referred to as indexation. It depends on the type of pension benefit whether this applies to you. The percentage by which your pension is increased, may also differ. That is why you receive a personal letter about the indexation of your pension early February.

Do you receive a pension benefit from SSPF ór;
Do you no longer work for Shell and are you not receiving a pension benefit?
Each year, the SSPF Board tries to increase your pension. In 2022, the board granted a 5% indexation as well as a catch-up indexation of 0.7%. It depends on the type of pension benefit that you receive whether you were granted this indexation in 2022.If you or your partner worked with Shell until 1 February 2022, you have not missed the indexation. This is why your pension was only increased by 5% in 2022.

Obviously, indexation is possible only if the financial situation of the pension fund is sufficient enough. Indexation is therefore conditional. The Board decides each year if increase of the pensions is possible.

After careful consideration, the Board has decided to grant an 8% indexation for 2023
It depends on the type of pension benefit that you receive whether you will be granted an 8% indexation. In your personal letter you can read more about the indexation granted to you. The increase of your pension becomes effective as from 1 February and will be paid out in March. In the autumn of 2023, the Board will decide on the possible granting of an additional catch-up indexation. The adjusted inflation calculation of Statistics Netherlands (CBS) is used for this.

Indexation if you work and accrue pension at SSPF
If you accrue pension, your accrued pension will be unconditionally increased by 2.0% per year in 2023 and 2024. This is called indexation and occurs annually on 1 February.
Should Shell Netherlands decide to change the indexation policy for active employees, the employer will inform employees in active employment.

How does the indexation of SSPF compare to other pension funds in the Netherlands?
At the end of 2022, SSPF is fully up to date with all indexations, which means that all catch-up indexations have been done and there are no indexation arrears for our pensioners.

As can be seen from the comparison with the 5 (largest) pension funds in the Netherlands, SSPF has achieved a good indexation result in recent years.

Please make sure that we have your most recent personal data
It helps us to inform you well. You can check and adjust your data via my-Shellpension.nl.

Find out more about the SSPF indexation policy.