How is your SNPS pension looking?

Do you accrue pension with SNPS? At the end of April 2023, you will receive your new value statement in my-Shell Pension. It shows you how much pension capital you have on 31 March 2023.

We invest your pension capital for the long term
SNPS isn't led by short-term developments but invests for the long term. This strategy helps us to limit the risks and increase the chance of positive returns.

What has happened in the financial markets?
Q1 2023 was turbulent, mainly because of events in March 2023: investors were alarmed by the collapse of the American Silicon Valley Bank and also by the problems facing other American banks. This was then compounded by the huge pressure put on Credit Suisse, which culminated in its acquisition by UBS (Union Bank of Switzerland). The (capital market) interest rate fluctuated substantially in Q1 2023. Initially, the interest rate decreased in response to expectations that inflation had peaked. The interest rate then increased again because core inflation in Europe and the United States was still high. Ultimately, the interest rate decreased again in March 2023 due to unrest in the banking sector. This unrest was prompted by the fear that a new banking crisis could badly affect economic growth. However, share prices increased in Q1 2023 despite these events.

So what does that mean for your pension?
Your expected pension benefit is determined by how much pension capital you have accrued as well as the interest rate. A positive return on investments is reflected in a higher pension capital. However, whether or not this translates into a higher pension benefit as well will depend on the interest rate. This is because the interest rate determines how much pension benefit you can buy with your pension capital. If the interest rate is lower, the pension benefit you are able to buy will be lower too. Exactly what impact the return and interest rates have on your pension is different from person to person.

On the whole, there was an increase in pension capital at the end of Q3 2023 in comparison with Q4 2022. Want to know what impact it has on your pension? View the latest status of your pension on my-Shell Pension under the heading ‘How is your pension developing?’. Your value statement gives a snapshot of the situation at the end of March 2023.

What can you do yourself? Review your investment profile
Did you know that you have a say in the value of your pension as well? You do this by choosing an investment profile: defensive, neutral or offensive. Your pension capital could increase or decrease depending on which profile you choose. By reviewing your own pension capital and expectations regularly, you will learn more about your pension and have more certainty that your pension matches your situation. Want to know how it all works and what the returns have been in recent years? Read this article by our investment expert.

Are you working at Shell? You can get financial advice through your employer
Your financial well-being is a fundamental part of your well-being as a whole. Shell is always happy to help you. To understand more about your financial situation and how you can reach your plans and goals, you can get personal financial advice through your personal budget (POZB). Check your employer's website for more information.