SNPS (Shell Nederland Pensioenfonds Stichting) implements the 2 available Shell pension schemes for employees with the Netherlands as 'base country’. The gross pension scheme is for employees who started employment from 1 July 2013. Apart from that, you can accrue pension in the SNPS Net Pension Scheme if your salary exceeds the legal fiscal maximum.
Objective of the policy
The Pension Fund aims to implement the SNPS pension schemes and, in connection with this, provide pensions. The employer makes a contribution available for the monthly accrual of pension capital. The content of the pension schemes is determined in the employment conditions consultation between the employer and employees and is then recorded by the pension fund in the pension scheme rules.
The Board of SNPS represents the employer, employees and retired participants. The Board gives account to the accountability body each year.
External supervision of the pension fund is conducted by De Nederlandsche Bank (DNB) and the Autoriteit Financiële Markten (AFM). SNPS also works with a certifying Actuary and an independent accountant.
Implementation of the pension scheme
The starting point is to implement the pension scheme in the best possible way, based on a solid policy (with a balance between performance, risk and expenses).
Shell Pensioenbureau Nederland B.V. (SPN) is the statutory director of SNPS. SPN supports the Board and advises the Board on pension policy. SPN also supports the Board in the supervision of external service providers to whom pension control and asset management are contracted out. SPN also supports the Board in the area of risk management. The Board has end responsibility for controlled and honest business operations, also for the activities that are contracted out.
The administration and the asset management of the pension scheme is contracted out to Achmea Pensioenservices and Achmea Vermogensbeheer.
For more information, please see the latest annual report.
SNPS policy concerning revision of pension
The key task of SNPS is to administer the pension rights and payments correctly and to provide participants with sound information in this regard. However, inaccuracies may arise in the administration despite all of SNPS’ efforts. For this purpose, SNPS has a pension revision policy.