Accountability body

The accountability body comprises 14 members and represents the employers, the members and the pension beneficiaries. The Board appoints the members of the accountability body:

• 2 employer representatives are appointed on the recommendation of Shell Petroleum N.V. 
• 4 representatives of the members are appointed following elections among the members
• The Shell Nederland Central Staff Council is entitled to recommend preferred candidates 8 representatives of the pension beneficiaries are appointed following elections among the members. VOEKS, the Association of Former Employees of ‘Koninklijke Shell’ is entitled to recommend preferred candidates

The accountability body gives a retrospective annual opinion (regarding the previous calendar year) on the actions of the Board, the policy implemented by the Board, as well as on policy decisions for the future. The accountability body also has specific consultation rights.

Authorities
The accountability body’s authorities regarding implementing tasks is based on the Pensions Act and on the pension fund statutes.