Collective Variable Pension (CVP)

Are you participating in the SNPS pension scheme and/or the Shell Net Pension Scheme? If so, from the age of 58 you can make a preliminary choice for receiving a fixed or variable pension in the future. If you opt for a variable pension, you will start participating in the Collective Variable Pension (CVP) with SNPS. Do you prefer to receive a fixed pension? Then you can take your pension capital to an external pension administrator and purchase a pension benefit from them.

You make a preliminary choice in the year that you become 58
In the year that you turn 58, we will invite you to make a preliminary choice for a fixed or variable pension benefit. If you opt for a variable benefit, you will participate in the CVP. We will then gradually convert your pension capital until your retirement date into (variable) pension entitlements in the CVP. Your pension capital will be invested within the CVP according to a fixed, collective investment mix. The advantage of this is that you can still profit from investments results, even after your retirement. At the same time, your pension benefit may also become lower if results are negative. The results made in the CVP are spread over 5 years to prevent large swings in the level of your benefit. Members also share the risks of death and longevity with each other.

Do you prefer receiving a fixed pension and do you not want to participate in the CVP? Then you continue accruing and investing pension capital according to your previously chosen risk profile. On your retirement date you will purchase a pension benefit from another pension administrator with your accrued pension capital. The level of this benefit is fixed for the rest of your life. It will remain the same, not become higher or lower.

For more details on the conversion of your capital into entitlements in the CVP view the video at the end of this page.

Should you change your mind, you can change the preference that you made earlier on the retirement date.

In the past years the following results were made in the CVP
Each year on 1 July (spread over 5 years) we process these results in your pension benefit. In July you receive a letter with the consequences for your pension.

The results in 2019  
SNPS gross pension scheme +3.02%
SNPS netpension scheme +2.77%
The results in 2018  
SNPS gross pension scheme -2.3%
SNPS netpension scheme -2.5%
The resuls in 2017  
SNPS gross pension scheme +1.6%
SNPS netpension scheme +1.3%

For more information on the spread of results view the following video at the end of this page.

On my-Shell pension you can find the most recent status of your pension data
It is important that you know what to expect, especially if the level of your pension can fluctuate. Check my-Shell pension for the most recent status of your CVP entitlements.

More details
Read the brochure about CVP or view the frequently asked questions about CVP. For more information read the presentation of the CVP webinar including the answers to the questions. We have listed the steps you need to take before making a provisional choice.