The introduction of the Future Pensions Act (Wtp) will change all pension schemes in the Netherlands, including those of Shell. This will affect current and former Shell employees as well as those who are already receiving a pension from Shell. Consequently, Shell Netherlands and the Central Works Council (COR) have been in conversations for some time now about the new pension schemes and the process of transitioning to them.

Shell Netherlands and the COR have reached an agreement about the new schemes

Following this decision, Shell Netherlands submitted its transition plans to the boards of the Shell pension funds (SSPF and SNPS). These plans include the mandate on how to implement the agreements. You will find these plans here on the website under 'downloads'.

If you have any questions about how the transition plans were developed, please visit www.nieuwpensioenbijshell.nl for more information.

How was this decision made? 
Shell Netherlands and the COR had extensive conversations about the new pension arrangements. They consulted with various parties to ensure a balanced and fair decision. As part of the process, SSPF submitted the draft transition plan to Voeks (the association of former Shell employees) Hearing Rights Committee (VHC). Starting on 22 March, Voeks has been exercising the statutory right of hearing on behalf of Shell pensioners and former employees. On 12 May, the VHC submitted its views to Shell Netherlands and the COR. Shell and the COR took their view into account in the final design of the new arrangement. On 1 July, the COR accepted Shell Netherlands' proposed plans. This concluded the employment arrangement phase. Subsequently, Shell Netherlands and the COR requested approval from the pension funds on 1 July 2024. You can read Shell Netherlands' message here.

What happens next?  
The Shell pension funds boards are currently reviewing the request from Shell Nederland and the COR. In doing so, they are carefully considering the interests of all participant groups and seeking advice from the Accountability Body (VO) and approval from the Supervisory Board for SSPF. We anticipate this process to be completed in autumn 2024. Following this, regulatory approval from DNB and AFM will be required to implement the transition agreements for SSPF and SNPS. After approval is obtained, the pension funds will proceed with implementing the new schemes. We aim for the new schemes to take effect on 1 January 2026 for SNPS and 1 January 2027 for SSPF.

Together towards your new pension 
We want to help you throughout the transition to the new pension scheme. The extent of changes for you will depend on your situation. So, we can only calculate what it means for you personally just before the transition to the new scheme. At present, this is not yet known. We will soon start our Shell Pension CARE programme (Comfort and Retirement Ease) to assist you during this transition. This programme will guide you step by step to your new pension through emails, webinars, meetings and even personal guidance. To share information in a way that suits you best. Please ensure that we can contact you by leaving your email address and mobile number on my-Shellpension and setting your communication preference to digital.

For more details on the Shell Pension CARE programme, please visit www.care-shellpensioen.nl.

(The English version of the website will soon be made available).