You accrue your pension pot with SNPS, where your monthly contributions are invested. The result of these investments (returns) are expected to contribute to a stable pension. However, it's important to note that it isn’t without risk. There is a possibility of losing money with investments. Therefore, the amount of pension capital you accrue can vary, as will the value of your (expected) pension.

Find out how your pension performed in the first three months of 2025 on my-Shell pension
You can find a new value statement in ‘My archive’ on my-Shell pension. And for a more detailed explanation of the investment results, you can read the interview below the infographic with Jeroen Roskam, Fiduciary advisor at Achmea Investment Management.

Check how your pension is doing

Developments in the world
"When President Trump took office in January, he immediately issued a series of decrees and plans, including hefty import tariffs. This uncertainty resulted in an increase in US inflation expectations and a decline in confidence indicators in the first quarter. There were elections in Germany as well. The CDU/CSU and SPD formed a new government coalition and, in March, the Bundestag agreed to depart from its previous strict budgetary discipline. As a result, Germany will now start to invest heavily in defence and infrastructure to reduce its reliance on US support. Therefore, the debt brake will be partially lifted to allow for increased defence spending."

Developments in the economy
"The economy in Europe continued to struggle in the first quarter. Growth figures for the fourth quarter of 2024 showed a stagnation in economic growth. We saw a varied global monetary policy as well. “The European Central Bank (ECB) lowered its policy interest rate in two steps from 50 basis points to 2.5%. This was the sixth interest rate cut since mid-2024. The US Federal Reserve (Fed) kept the policy rate steady at a range of 4.25% to 4.50% and will keep interest rates 'on hold' for the time being. Meanwhile, the Bank of Japan (BoJ) raised its policy interest rate to 0.50%, the highest level in over 17 years."

This happened in the financial markets
"March was a turbulent month for the financial markets. Stock markets were under pressure due to the ongoing uncertainty over trade tariffs. Despite these challenges, various investment markets began the year on a positive note with global share prices rising by approximately 3% in January. In February uncertainty increased, and by March financial markets became very turbulent.

With the first quarter now complete, global share prices have dropped by approximately 8%. US shares, in particular, declined in value, and the same was true for the US dollar, which fell approximately 4.5% against the euro due to concerns about the US economy. Other asset classes were under pressure as well. Commodities were the only class to increase in value, partly because the price of gold rose to record levels due to the global turmoil." It should be noted that our investment policy is geared towards the long term and our investment portfolios well-diversified.