New pension

• Who determined what the new scheme looks like?

  SSPF:

  Shell Netherlands and the Central Works Council (COR) developed the new pension scheme. They consulted with various parties to ensure a fair decision. For the SSPF pension scheme, part of this process involved submitting the draft transition plan to the Voeks (association of former Shell employees) Hearing Rights Committee ('VHC'). The VHC submitted its vision to Shell Netherlands and the COR. Shell and the COR have incorporated that vision in their final design. You can ask questions about the VHC by contacting Voeks by e-mail.

  Shell Nederland and the COR decided on the new pension scheme. They have now requested that the SSPF board review and implement the new pension scheme. The board subsequently considers the request from the COR and Shell Nederland. In doing so, it balances the interests of all participant groups. In this process, advice is also sought from the Accountability Body and approval from the Supervisory Board. After the advice of the Accountability Body and the Supervisory Board, SSPF determines whether it can accept the assignment to implement the new scheme - as laid down by social partners. If so, SSPF will then proceed with implementing the scheme. In doing so, regulators DNB and AFM must approve how SSPF intends to implement the transition agreements.

  SNPS:

  Shell Netherlands and the Central Works Council (COR) have worked together to develop a new pension scheme after discussing with various parties to ensure a fair decision.

  Shell Nederland and the COR have decided on the new pension scheme. They have instructed the boards of SSPF and SNPS to review and implement the new pension schemes and transitional measures. The pension funds' boards then consider the COR and Shell Nederland's request and balance the interests of all participant groups. In this process, advice is sought from the Accountability Body.

  After receiving advice from the Accountability Body, the pension funds determine whether they can accept the mandate to implement the new scheme defined by social partners. If so, they will proceed with the scheme's implementation. Regulators DNB and AFM need to approve how SNPS intends to implement the transition agreements.

• What does the new pension law (Wtp) mean for my pension?

  For SSPF: The new pension law (Wtp) introduces a system where you will accrue your own pension pot. When you retire, you will use your pot to purchase a pension benefit. Due to the new system, there will be more clarity about the premiums you pay and the capital you save. Your pension will then depend on how our investments perform. This means it could go up if the investments do well, or down if they do not. The aim is to make pensions in the Netherlands more future-proof. At Shell, it is important to consider whether you are still working or already retired and whether you are participating in SSPF and/or receiving a pension from SNPS. If you are also an SNPS net pension scheme member, please review the SNPS changes here. Soon, we will explain what these changes will entail for both schemes. However, starting in autumn 2026 or early 2027, we can share what it means for you personally.

  For SNPS: The new pension law introduces a system where you will accrue your own pension pot. When you retire, you will use this money to purchase a pension benefit. At Shell, it is important whether you are still working or already retired. If you have a gross pension in SSPF and only accrue a net pension in SNPS, you would like to click here. There will be more changes affecting the SSPF scheme due to the Future Pensions Act. Soon, we will explain broadly what these changes will entail for both schemes. However, starting in autumn 2025, we can share what it means for you personally.

• What is happening when?

  Review the timeline here.

• What happens to the SSPF pension I have accrued to date?

  The new pension law impacts not only employees but also pensioners and former employees. A fundamental principle of the Future Pensions Act (Wtp) is that accrued pensions will be converted to the new system. These accrued pensions are then from the part of your personal pension pot. During the conversion, any guarantees from the employer will cease. In the new system, there is no need to maintain large reserves (buffers) in the future.

  As the accrued pensions are converted, the pension reserves (buffers) held are also released. These buffers can then be allocated. One approach is distributing the buffers to individual pension pots (possibly over several years) or retaining them to mitigate specific risks.

  The decisions on the new pension schemes were made by Shell NL and the COR and outlined in the SSPF transition plan and in the SNPS transition plan. This plan also determines whether they intend to convert already accrued pensions to the new scheme. The boards of the pension funds will evaluate the request From Shell NL and the COR upon receipt. They will carefully consider the interests of all participant groups. Additionally, advice will be sought from the Accountability Body, and approval from the Supervisory Board is required. Following the advice from the Accountability Board and approval from the Supervisory Board, the pension funds will decide whether to proceed with implementing the new schemes – as proposed by the social partners. If approved, the pension funds will move forward with the implementation. Prior to this, regulators DNB and AFM must approve SSPF’s transition arrangements.

• What happens to the SNPS pension I have accrued to date?

  SNPS’ pension scheme is largely compliant with the Future Pensions Act. In principle, the pensions accrued to date will remain unchanged and be transferred one-to-one to the new scheme.

• Can I object to the decision?

  For SSPF:

  The government has determined that individuals cannot object to the transition to the new pension under the Future Pensions Act (Wtp). The Central Works Council (COR) represents current employees, former employees, and pensioners in the process. The COR considered the interests of all the different participant groups and the employer in the consultation process.

  In addition, the Voeks (Association of Former Employees of Shell) Hearings Committee ('VHC') has also represented the interests of former employees and pensioners in SSPF. The VHC gave its views on the draft transition plan setting out the proposal for the changes. Shell Netherlands and the COR have taken this into consideration. If you have any questions about the VHC, please email Voeks.

  Shell Netherlands and the COR decided on the new pension scheme and submitted a request for approval to the SSPF board. The board then considers the request from Shell Nederland and the COR, balancing the interests of all participant groups. In this process, advice is also sought from the Accountability Body and approval of the Supervisory Board.

  Shell Netherlands and the COR made the decision on the new pension scheme. They submitted a request for approval to the SSPF board. The board then considers the request from Shell Nederland and the COR. In doing so, it balances the interests of all participant groups. In this process, advice is also sought from the Accountability Body and approval of the Supervisory Board. Through co-participation in the pension fund, the VHC and assessment by the pension funds, it is ensured that the interests of current employees, former employees and pensioners are represented. Following the advice of the Accountability Body and approval of the Supervisory Board, the pension fund decides whether the mandate for the new schemes can be accepted. If so, the pension funds will then proceed with implementing the scheme. In doing so, regulators DNB and AFM must approve how SSPF intends to implement the transition arrangements.

  For SSPF:

  The government has determined that individuals cannot object to the transition to the new pension under the Future Pensions Act (Wtp). The Central Works Council (COR) represents current employees, former employees, and pensioners in the process.

  The COR considered the interests of all the different participant groups and the employer in the consultation process.

  Shell Netherlands and the COR made the decision on the new pension scheme. They submitted a request for approval to the SNPS board. The board then considers the request from Shell Nederland and the COR. In doing so, it balances the interests of all participant groups. In this process, advice is also sought from the Accountability Body. Following the advice of the Accountability Body, the pension fund decides whether the mandate for the new schemes can be accepted. If so, the pension funds will then proceed with implementing the scheme. In doing so, regulators DNB and AFM must approve how SNPS intends to implement the transition arrangements.

• When will I hear what it means to me?

  Shell Netherlands and the Central Works Council (COR) have submitted their request to accept the assignment to the SSPF and SNPS board. SSPF: The board carefully considers that request while balancing the interests of all participant groups. In this process, advice is sought from the Accountability Body and approval from the Supervisory Board. SNPS: The board is carefully considering that request. In this process, advice is sought from the Accountability Body. Just before transitioning to the new scheme, we can calculate what the estimated impact of these changes will mean to you personally.

  Read more about it in the interview with Eveline Smeets.

  Shell Pension is developing the CARE program to help you navigate the changes. We will provide information in a way that suits you best, through emails, webinars, and events, and offer personal guidance if needed. Please ensure we can contact you by updating your contact details on my-Shellpension if you have not done so yet and setting your communication preference to digital. Shell Pension is developing the CARE program to help you navigate the changes. We will provide information in a way that suits you best. We will inform you through emails, webinars, and events and offer personal guidance if needed. Please ensure we can contact you by updating your contact details on

• What exactly is a transition plan?

  In the SSPF transition plan and In the SNPS transition plan, Shell Netherlands and the COR document the agreements made to comply with the Future Pensions Law (Wtp). It includes the choices, considerations and calculations that form the basis of the transition to the new scheme. They submit this as a request to accept the assignment to the boards of the Shell pension funds. By law, Shell pension funds are required to publish the transition plan. If you have any substantive questions about this, please get in touch with Shell Netherlands via this link.

• What if I have questions or comments about the transition plan?

  Shell Netherlands and the COR established the transition plan, which sets out the agreements made to comply with the Future Pensions Act (Wtp). If you have any questions or comments regarding this plan, please message Shell Netherlands via this link.

• What can I do myself?
  • Keep an eye on our website or visit nieuwpensioenbijshell.nl
  • Make sure we can reach you! If you have not done so already, please leave your email address on my-Shellpension and set your communication preference to digital.
  • Is your partner registered? Check this on my-Shellpension.
  • Thinking about retiring? Schedule a video call.