Frequently asked questions

When you retire under the new scheme, you can choose between a variable pension with SSPF and a fixed pension from an insurer. Which choice you can make and when depends on your situation. Read more about the choice between a fixed and variable pension.

The choice you make applies to the full pension you are currently receiving. It also applies to your partner’s pension should you pass away, provided you have arranged a partner’s pension. It is not possible to transfer just part of it.

Are you partially retired? You make one choice: either a fixed pension or a variable pension. This choice also applies to the part of your pension that has not started yet.

No, this is not permitted by law, as SSPF offers this option.

Under the new pension scheme, a variable pension is the standard. Shell Netherlands and the COR (Central Works Council) have decided this. Ultimately, this would be at the expense of all participants. Participants who are interested in a fixed benefit can therefore exercise their ‘right to shop around’ to purchase a fixed pension from an insurance company. SSPF also has a partnership with Zwitserleven to make it easier for you to choose a fixed pension.

Unfortunately, that is not possible. The law stipulates that your pension capital may only be used to purchase a pension benefit. This is to ensure that you maintain a lifelong income.

You may only purchase a pension benefit from an insurance company authorised under Dutch law to pay out pension benefits. It is not possible to transfer your pension capital to a foreign insurance company that is not authorised to do so. Statutory guidelines apply in this regard.

If you have a partner and choose a fixed pension with an insurance company, we will transfer your entire pension capital. SSPF will therefore not pay out a partner’s pension following your death. The amount of the partner’s pension paid by the insurance company depends on the choice you make. Please note: we can only transfer your pension if your partner consents to this.

You will receive your pension for the rest of your life, regardless of whether you choose a variable pension with SSPF or a fixed pension with an insurance company.

• Why is compensation being provided?
  As a result of the transition to the new pension scheme, some participants may build up less pension than in the old scheme. For participants who may be disadvantaged as a result, Shell and the Central Employee Council (COR) have agreed on compensation. This compensation is intended to help mitigate that disadvantage in future pension build-up. The amount of compensation is determined per year of birth.
• What happens to my compensation if I leave Shell?
  The compensation is intended for active participants whose future pension build-up may be lower as a result of the transition to the new pension scheme.
  
  If you leave Shell, the compensation will stop. This is because you will no longer build up new pension benefits with SSPF from that point onwards. As a result, there will no longer be any future pension build-up for which compensation is needed.
  
  This does not affect the pension you have already built up. That pension will remain yours.
• Will I receive compensation if I no longer work for Shell?
  No. The compensation in the new pension scheme is intended for participants who are actively building up pension benefits with SSPF and whose future pension build-up may be lower as a result of the transition to the new scheme.
  
  If you left Shell before the transition to the new pension scheme and are no longer building up pension benefits with SSPF, you will not receive compensation. If, when leaving Shell, you did not transfer the pension rights you built up with Shell to the pension provider of a new employer, you will remain a former participant of the pension fund and your accrued pension will continue to be held by SSPF.
  
  In addition, former employees of Shell will share in the distribution of the buffer when SSPF transitions to the new pension scheme.
• Why is SSPF's compensation spread over a maximum of ten years rather than being paid in a lump sum?
  The compensation is intended to address a potential disadvantage in future pension build-up following the transition to the new pension scheme. Not all participants continue to work for Shell until retirement. If the full compensation were granted immediately, participants who leave Shell earlier would receive more compensation than the disadvantage they would actually experience. This is known as “overcompensation”.
  
  For this reason, the compensation will be added to participants' pensions gradually over a period of up to ten years. This ensures that the pattern of compensation broadly follows the pattern of the disadvantage experienced.
  
  In addition, a ten-year period is the standard period prescribed by law. The compensation will stop earlier if you retire or leave Shell.
• Who decided how the compensation would be arranged?
  The compensation arrangements were agreed by Shell and the Central Employee Council (COR) as the parties responsible for employment conditions. SSPF then assessed whether these arrangements, as part of the overall transition, could be implemented in a balanced and equitable way.
  
  The compensation was not considered in isolation. SSPF assessed the full package of agreements and measures for all groups of participants: active employees, pensioners and former employees who no longer work for Shell.
  
  The Dutch Central Bank (DNB) also independently assessed the plans, including the decisions made regarding compensation and their impact on the different groups of participants. After carefully reviewing all information provided, DNB found no reason to impose a prohibition on the transfer to the new pension scheme.
• Were former employees taken into account when the compensation arrangements were agreed?
  The compensation is intended for participants who continue to build up pension benefits after the transition and who may experience a disadvantage as a result. Employees who have left Shell no longer build up new pension benefits with SSPF. For that reason, they do not receive compensation in respect of future pension build-up.
  
  The only exception is a small group of former employees who left Shell because of disability. This group continues to build up pension benefits at SSPF's expense and therefore qualifies for compensation, as if they were still employed by Shell.
  
  Any pension you have already built up will remain with SSPF, provided you did not transfer it to the pension provider of a new employer when you left Shell. As a former employee, you will also share in the distribution of the reserves (buffer) when SSPF transitions to the new pension scheme.
• Does leaving Shell affect my share of the buffer?
  No. For the distribution of the buffer, it does not matter whether you are still employed by Shell on 1 January 2027. The buffer will be distributed among all participants of the pension fund: employees, former employees and pensioners.

Yes. Officially, DNB has “seen no grounds to impose a prohibition on the transfer of accrued pension rights into the new scheme”. This means SSPF may continue its preparations for the transition to the new pension scheme on 1 January 2027.

• Is DNB’s decision public and can I view it?
  

  SSPF has received approval from DNB for its plans to transfer to the new pension scheme.

  DNB’s decision is subject to supervisory confidentiality and is therefore not public. The decision is addressed to SSPF, not to individual participants or other SSPF stakeholders.

• DNB has issued a formal decision. What does such a decision actually contain?
  

  Below, we explain how the assessment was carried out and outline the main points of DNB’s decision.

  DNB has thoroughly assessed SSPF’s transition and implementation plan, including the underlying calculations, analyses and other documentation. During this process, DNB asked many additional questions and requested further information on a range of subjects. This shows that DNB examined the proposed transition carefully.

  In its decision, DNB explains that it concluded there are no grounds for imposing a prohibition on SSPF’s transfer to the new pension scheme. DNB considers that SSPF has sufficiently substantiated why it could reasonably decide not to reject Shell and the COR’s request to transfer to the new pension scheme. This includes the fund demonstrating that the amount paid by the employer in connection with the discontinuation of the sponsor guarantee adequately reflects the value of that sponsor guarantee. SSPF has also sufficiently demonstrated that the transfer will not result in a disproportionate disadvantage for one or more groups of participants compared with not transferring.

  Based on these conclusions, DNB sees no reason to impose a prohibition on SSPF’s transfer to the new pension scheme on 1 January 2027. SSPF can therefore continue its preparations for the transition to the new pension scheme on 1 January 2027.

  SSPF has not been given access by DNB to any views submitted by third parties to DNB and does not know their content.

• Does this mean SSPF will definitely transition to the new pension scheme?
  Yes. SSPF will move to the new pension scheme on 1 January 2027. DNB's decision is an important condition for the transition. SSPF will continue its preparations. As with any major transition, we will continue to monitor the implementation carefully.
• Will anything change to my pension now?
  No. At this moment, there will be no changes to your pension benefit or your pension accrual.
• When will I find out what the new scheme means for me personally?
  Over the coming period, you will receive more information about the new pension scheme. Personal calculations can only be made once sufficient data is available and the transition date is closer. You will receive a provisional calculation at the end of November 2026. A final calculation will be provided in spring 2027, following the transition. If you are still employed by Shell, or if you have left Shell but have not yet retired, you can use the Pension Navigator. If you are already receiving a pension benefit from SSPF, you will receive a personal link to the Pension Navigator in September 2026.
• Is my pension safe?
  Yes. Under the new pension system, your pension will continue to be paid as a lifelong pension benefit. The transition is taking place under the supervision of DNB and has been thoroughly assessed for due care, balanced outcomes and operational feasibility.
• Why has DNB's assessment taken so long?
  DNB assesses not only the implementation plan, but also whether SSPF is ready to administer the new scheme carefully and effectively. This includes reviewing areas such as administration, IT systems, operational processes, investments and the interests of different groups of participants.
• Do I need to do anything now?
  No. You do not need to take any action at this time. SSPF will inform you when information becomes available that is relevant to you.
• Could the transition still be postponed?
  SSPF will move to the new pension scheme on 1 January 2027. SSPF is continuing in line with this timetable. If there are any changes to the planning or implementation, we will inform participants as soon as possible.
• Where can I find reliable information about the transition to the new pension scheme?
  For up-to-date and reliable information, please visit CARE, shellpensioen.nl and our official communications from SSPF and Prikkl.

We recommend that you always verify information from other sources against information provided by SSPF. If there are important developments, or when information becomes available about your personal situation, we will contact you directly.

Under SSPF's new pension scheme, pension pots and contributions are invested. This is not done in the same way for every participant. Instead, investments are made according to a risk profile that reflects the level of risk considered appropriate for different age groups. In general, the closer participants are to retirement, the lower the level of investment risk that is considered appropriate.

This risk profile is based on the findings of the Risk Preference Survey (RPS) carried out by SSPF in 2024. Through this survey, participants were asked how much investment risk they are willing and able to take with their pension. Legislation requires the Board to use these results when determining the Fund's risk attitude towards investments. SSPF also considers participant characteristics and insights from academic research. The investment policy must then be aligned with the agreed risk attitude. As a result, the risk attitude is an important starting point for both the design of the new pension scheme and SSPF's investment policy.

• How and when was the Risk Preference Survey (RPS) carried out at SSPF?
  SSPF commissioned Ipsos and Willis Towers Watson (WTW) to conduct the RPS in 2024. Both organisations have extensive experience in pension-related research. The survey focused on two aspects: the amount of investment risk participants would like to take with their pension, and the amount of risk they are able to take. The latter depends, for example, on their personal and financial circumstances. Based on their responses, participants were assigned to one of ten risk preference categories. These categories were then grouped into three main profiles: lower risk, medium risk and higher risk. More than 32,000 participants were invited, and around 23% completed the survey. Participation rates were 27% among employees, 17% among former employees and 25% among pensioners.
• What were the main findings of SSPF's Risk Preference Survey (RPS)?
  The 2024 RPS produced several clear findings:
  • Participants differ significantly in the amount of investment risk they are prepared to take with their pension. Overall, 38% of participants were classified within the lower-risk profile, 25% within the medium-risk profile and 37% within the higher-risk profile.
  • Employees and former employees were more likely to prefer a higher-risk approach, while pensioners were more likely to prefer a lower-risk approach. This suggests that willingness to take investment risk generally decreases with age.
  • Among employees and former employees, participants with higher incomes tended to be willing to take slightly more investment risk. For pensioners, income did not appear to have a clear impact on risk preference.
  • Compared with participants of other pension funds where Ipsos has conducted similar surveys, SSPF participants were slightly more likely to prefer a lower-risk profile and slightly less likely to prefer a higher-risk profile.
• How does SSPF know that the Risk Preference Survey (RPS) provides a reliable picture of participants' views?
  SSPF appointed Ipsos and Willis Towers Watson (WTW) to conduct the survey. Both organisations have extensive experience in pension research. The survey was carried out in accordance with applicable legal requirements and industry guidelines. Participation of approximately 23% is relatively high for this type of survey. This means that the results provide a reliable and representative picture of the views of different age groups within SSPF. The survey shows that participants do not all view investment risk in the same way. Some participants place a high value on certainty and wish to minimise fluctuations in their pension outcome. Others are comfortable accepting more risk if this provides the opportunity for a higher pension. Legislation requires the Board to take these insights into account when determining the Fund's risk attitude and designing the investment policy for the new pension scheme.
• Is a Risk Preference Survey (RPS) carried out only once or on a regular basis?
  The RPS is not a one-off exercise. Legislation requires pension funds to reassess the level of risk that participants are willing and able to take at least once every five years. In its Implementation Plan published in July 2025, SSPF indicated its intention to carry out a new RPS in the second half of 2027. By that time, the transition to the new pension scheme will have been completed. It will also be clear how many pensioners have chosen a variable pension benefit within SSPF and how many have opted for a fixed pension benefit with an insurer.
• I was unable to print or save my responses, and it only took me a short time to complete the survey. Does that mean the RPS was not robust?
  No. The fact that you completed the survey quickly or found it straightforward to answer does not affect the quality, robustness or reliability of the survey. Likewise, the fact that responses could not be printed or saved has no impact on the analysis or the results. We do understand that participants may find it helpful to be able to review their responses at a later date. For that reason, we will consider whether future surveys can offer an option to save or print responses.
• How has SSPF used the results of the Risk Preference Survey (RPS)?
  The Board used the results of the RPS as an important input when designing the new pension scheme. Legislation requires the Board not only to consider participants' survey responses, but also a range of other factors, including age, salary progression, State Pension (AOW) entitlements, other participant characteristics, characteristics of the Fund and insights from academic research.
  
  Based on this information, the Board determined the level of investment risk considered appropriate for different groups of participants. The corresponding investment policy was then developed.
  
  For employees and former employees, this resulted in the higher-risk profile being selected as the default option. This reflects the longer investment horizon that these participants generally have before retirement. Participants will continue to have a choice. In spring 2027, participants will be able to select either the medium-risk profile or the lower-risk profile if either of these options better reflects their personal preferences. Participants will be informed when this choice becomes available through My Shell Pension, following receipt of their final overview of the new pension scheme.
  
  The Board also assessed whether the investment policy for pensioners is aligned with their risk preferences. The investment policy for the Collective Variable Pension (CVP) is consistent with the survey findings, which showed that pensioners on average have a preference for lower levels of investment risk. The results of the survey have therefore not only been collected, but have been actively used in determining SSPF's risk attitude and shaping the Fund's investment policy.

SSPF will move to the new pension scheme on 1 January 2027. Your pension will then be converted to the new pension scheme. You need to make an important choice: whether to opt for a fixed or variable pension in the future. Read more about it here.

SSPF will move to the new pension scheme on 1 January 2027. You will still accrue a pension but will have your own, personal pension pot. Any pension accrued already will be converted to the new scheme and we add this to your pension pot. Read more below:

• You will accrue a personal pension pot that fluctuates in line with investment results.
  You and your employer will pay a contribution every month. It will be invested for you. Your pension pot may grow if investments do well but could also decrease if they do less well. This means that the amount you receive each month when you retire will not be fixed in advance.
  
  SSPF invests for the long term. This helps us limit risks and increase the chance of a positive yield.
• You can decide how much risk we take when investing on your behalf.
  We can invest your pension pot based on one of the following three risk profiles: less risk, average risk or more risk. From 1 January 2027, you will be able to decide which profile suits you best on my-Shell pension.
• The employer contribution of 21% is the same every year.
  This can be advantageous or disadvantageous compared to your current pension contribution. If disadvantageous, SSPF will compensate you. Shell’s contribution percentage as of 1 January 2027 will be the same for participants of every age. Whether and how much compensation will be paid to your pension pot is determined for each year of birth.
• In the new scheme, you can decide how much extra you want to contribute to your pension.
  You will pay a contribution of 2% from your gross salary at the very least. This is the fixed contribution. The new pension scheme will allow you to be flexible and contribute more to your pension yourself. This is the flexible contribution. You can choose to contribute up to 7% extra on top of the 2%. By default, your contribution is set at 7% (2% fixed + 5% flexible). You will be able to make this choice via Workday as of 2027.
  
• The partner’s and orphan’s pensions are going to change.
  Your partner will only receive a lifelong partner's pension if you die while you are still working for Shell. The same will apply to participants with an incapacity for work but entitled to the non-contributory continuation of pension accrual with SSPF. Your partner will also receive the partner's pension already accrued under the old scheme. Your children will receive an orphan’s pension if you die while you are still employed by Shell. The same will apply to participants with an incapacity for work but entitled to the non-contributory continuation of pension accrual with SSPF. The orphan’s pension will be paid to your children until they reach the age of 25.
  More about the new survivors’ pension
• The disability pension will be arranged via your employer from now on.
  This pension, which you will receive if you become incapacitated for work before your retirement date, will supplement Shell Netherlands' existing sickness and reintegration policy.
• In the new scheme, you will provisionally opt for a fixed or variable pension
  If you are 58 or older, you will make a preliminary choice: for a variable pension with SSPF or a fixed benefit via an external pension insurance company. Variable pensions are expected to pay out more than fixed pensions. However, variable pensions could pay out less when times are tough. You will make your final choice known when you retire.
• Extra capital in your pension pot.
  Because the investment risk will lie with you in the new scheme, SSPF can maintain fewer reserves. However, we will maintain a buffer to avoid the fluctuation of benefits as much as possible. Besides several other limited (statutory) buffers, the rest of the fund assets will be allocated to participants in the form of personal retirement capital.

SSPF will move to the new pension scheme on 1 January 2027. Your accrued pension will be converted into a personal pension pot, which will be invested for you. Your pension is not fixed in advance. Read more below:

• You will receive a personal pension pot that fluctuates in line with investment results.
  Your pension will be invested for you. So, your pension pot may grow if investments do well but could also decrease if they do less well. This means that the amount you receive each month when you retire will not be fixed in advance. SSPF invests for the long term. This helps us limit risks and increase the chance of a positive yield.
• You can decide how much risk we take when investing on your behalf
  We can invest your pension pot based on one of the following three risk profiles: less risk, average risk or more risk. You will be able to decide which profile suits you best on my-Shell pension.
• In the new scheme, you will provisionally opt for a fixed or variable pension.
  If you are 58 or older, you will make a preliminary choice: for a variable pension with SNPS or a fixed benefit via an external pension insurance company. Variable pensions are expected to pay out more than fixed pensions. However, variable pensions could pay out less when times are tough. You will let your final choice know at retirement.
• You will retain any partner’s and orphan’s pensions you have already accrued.
  The partner's pension you accrue in the lead-up to the new pension will be transferred to the new scheme. The value of the accrued partner’s pension will be put into a separate pension pot. In the event of your death, your partner will receive the partner's pension accrued and your children will receive the orphan's pension accrued.
  More about the new survivors’ pension
• We will maintain a buffer to keep pensions as stable as possible. Any remaining assets will be divided among all the participants.
  Because the investment risk will lie with you after the transition, it will no longer be necessary for SSPF to maintain high reserves. However, we will maintain a buffer to avoid the fluctuation of benefits as much as possible. Besides several other limited (statutory) buffers, the rest of the fund assets will be allocated to participants in the form of personal retirement capital. Read more about Distribution of the buffer.

No, you will continue to receive a lifelong pension. Your partner’s pension will also remain well-arranged.

You joined Shell before 1 July 2013 (SSPF)
Your already accrued pension will be converted to the new scheme. The accrued pensions then become part of your personal pension pot.

When all accrued pensions are converted, the pension reserves (buffers) held with the pension fund are also released. These buffers are distributed among all participants. The majority of the buffers will be allocated to individual pension pots, while a smaller portion is set aside to cover certain risks.

If you joined Shell on or after 1 July 2013 (SNPS)
The SNPS pension scheme already largely complies with the Future Pensions Act (Wtp). Pensions already accrued are transferred one-to-one to the new scheme. Read here more on SNPS.

Under the current SSPF pension scheme, your pension may be increased each year in line with the rise in the Consumer Price Index (CPI). This is only possible if the financial position of SSPF allows it.

With the transition to the new pension scheme, the way pensions are structured will change. As a result, this form of conditional indexation will no longer be possible from 2027 onwards. Instead, when the new pension is introduced, all participants, including those who are already receiving a pension, will receive a share of SSPF's reserve fund. This will result in a one-off increase to pensions in 2027.

For pensioners, this means that a large part of the expected future pension increases will already be reflected in their pension at the time of the transition. In addition, pensions may continue to increase in future if investment and other results are positive. However, pensions could remain unchanged in some years or even decrease if results are less favourable.

Some participants spent part of their career with Shell working outside the Netherlands. During that period, they did not build up entitlement to the Dutch State Pension (AOW). For this group, SSPF includes an AOW compensation benefit.

Until now, this AOW compensation has automatically increased each year in line with changes to the AOW. Under the new pension scheme, a guaranteed annual increase will no longer be permitted.

Therefore, when the new pension is introduced, participants who are affected will receive compensation for the loss of these increases from 2027 onwards. This compensation will be included in the allocation of SSPF's reserve fund and will result in an additional increase to this part of their pension.

You can see what the allocation of the reserve fund means for the level of your pension under the new pension scheme in the first provisional calculation of your new pension. You are expected to receive this at the end of November.

If you pass away, there is still a pension for your partner and children. You will keep the partner's pension you have already accrued in the existing scheme. It will also be transferred to the new pension scheme. In the event of your death, your partner will then receive a partner's pension consisting out of 2 parts. 1) the partner's pension accrued under the old scheme and 2) the insured partner's pension under the new scheme.

Even if you are no longer employed but have accrued partner's pension in the past, this accrued partner's pension will also be transferred to the new scheme.

Read more about the new survivors’ pension

Under the new scheme, you cannot start receiving your pension earlier than 10 years before the statutory retirement age that applies at that time.

As you near retirement, the current scheme allows you to make several choices starting six months before your retirement date. One of these is the option to temporarily receive a higher or lower pension payment. You can choose this for a period of between 1 and 10 years.

Will the high/low option still be part of the new pension scheme?
From 1 January 2027 SSPF will introduce a new pension scheme and the high/low option will no longer be included. Instead, when you retire, you’ll be able to choose between a fixed pension or a variable one. With a variable pension, you can opt for payments that gradually go down, stay the same or go up over time. This means you could receive a higher or lower amount in the early years, which then adjusts gradually. The rate of increase or decrease is set in advance. You won’t be able to choose this percentage yourself.

Need help deciding?
If you're thinking about retiring around the time of the transition, you can always book a personal advice session with Prikkl. You can make an appointment via: Prikkl.nl/care-shell-pensioen-en.

SSPF is obligated to conduct its business in a controlled and ethical manner. The board first examined the risks involved in the transition to the new pension system. It then took measures to eliminate or minimise those risks as much as possible. The pension fund uses a special system to identify risks in time and to manage them properly. This system helps make plans and check that everything runs smoothly. The board also ensures that the transition is done safely and properly, so that participants can be confident that their pensions will continue to be well managed.

With the transition to the new pension system, pension reserves (the buffers) will be released. These are distributed in three ways. In this article we explain how this works.

The SSPF board believes the money is distributed in a balanced way. The calculations done by SSPF on the effects show that no participant group will be at an unbalanced disadvantage due to the transition. Additional fund resources have been reserved for these groups that may suffer financially due to the transition. This concerns the following groups:

• Pension beneficiaries
  If increased pensions do have to be reduced unexpectedly after the transition, the pension beneficiaries will be affected most. That is why there is an additional reserve especially for them: the risk-sharing reserve. This reserve is designed to narrow the risk of reducing their pension (less than 5% chance in the first 15 years after the transition).
• Participants still accruing pension
  Currently, the employer pays more contributions as you get older. That will stop in the new system, resulting in some working people receiving less premium. To compensate for this, there is an additional reserve. This ensures that the affected participants receive additional pension premiums spread over the next 10 years.

Your personal situation will determine how much will change for you. What this means for you exactly will be communicated to you shortly before the transition (end of 2026), when you will receive the provisional calculation.

We want to guide you to the new pension scheme as best we can. SSPF has therefore developed the CARE programme, where you can take in the information in the way that suits you.

SSPF will move to the new pension scheme on 1 January 2027. Of course, we will be sure to keep you informed through e-mails, webinars, participant meetings and, if needed personal guidance. So, make sure we can reach you! Leave your email address, if you haven't already done so, at my-Shellpension and set your communication preference to digital.

What will happen when? We have made a clear schedule. That way, you know exactly when you will get information and when you have to make a choice.

See the timeline here.

We like to keep you informed and we use channels that best suit your preferences.

• Newsletters by email, with updates on your situation.
• Post, if we do not have your email address or you have indicated this as your preference.
• CARE programme, through care-shellpensioen.nl, with tailored guidance (also for personal interviews and calculation modules).
• mijn-Shellpensioen.nl, with your personal pension information.
• Viva Engage, if you are still working with Shell.
• LinkedIn, online short posts on various topics.
• Voeks, for pension beneficiaries and former employees, via a magazine and meetings.
• Webinars, videos and e-learnings, if you prefer watching over reading.
• Are you thinking of retiring? Go to Prikkl and see if you qualify for a personal interview now.

The final decision for the new pension scheme was taken by Shell Netherlands and the COR (Central Employee Council) and is set out in the transition plan*. They instructed the SSPF board to implement the new pension scheme, after which the board reviewed the request by the COR and Shell Netherlands carefully.

The board assessed to whether the transition to the new scheme would be balanced for all participants, whether it complies with laws and regulations, and whether it is feasible to implement. In this process, advice was sought from the Accountability Body (AB) as well as approval from the Board of Supervisors (BoS).

The SSPF board has accepted the assignment from Shell Netherlands and the COR and started the preparatory work for implementing the new scheme with effect from 1 January 2027. The implementation plan and the communication plan have been submitted to the supervisory authorities DNB and AFM.

* Part of this process for the SSPF pension scheme was that the draft transition plan was submitted by Shell Netherlands and the COR to the Voeks (Association of Former Shell Employees) committee for the right to be heard (VHC). Shell and the COR have factored this vision from the VHC into their final design. If you have any questions about the VHC, you can send an e-mail to pensioenen@voeks.nl.

With the introduction to the new pension scheme, the government has determined that it is not possible for individuals to object to the transition to the new pension. Current employees, former employees and pension beneficiaries are represented in this process by the COR (Central Employee Council). The COR considers the interests of all the participant groups and the employer as part of the consultation process. The interests of former employees and pension beneficiaries in SSPF are also represented by the Voeks ('Association of Former Shell Employees') committee for the right to be heard ('VHC'). The VHC has shared its views on the draft transition plan in which the proposal for the changes is set out. Shell Netherlands and the COR have factored these views into their deliberations. If you have any questions about the VHC, you can send an e-mail to pensioenen@voeks.nl.

The decision for the new pension scheme was taken by Shell Netherlands and the COR. They have entrusted the SSPF board with the task of implementing this decision. The board considered the request from Shell Netherlands and the COR. To reach an informed decision, the interests of all participant groups have been weighed up. In this process, advice was sought from the Accountability Body (AB) as well as approval from the Board of Supervisors (BoS).

SSPF is working with BlackRock, partly with a view to implementing the new pension law (Wtp) as of 1 January 2027. After careful selection, SSPF chose BlackRock as its new asset management company. In July 2025, pension assets management was transferred from SAMCo to BlackRock. This partnership allows SSPF to leverage BlackRock's global knowledge and technology, particularly in investment and risk management.

Whether you can transfer your pension and whether that is beneficial depends on your personal situation, the scheme of your new pension administrator and the timing of your application for the value transfer. You can read more about this on this page. For a comparison between the schemes, you can also look at the Shell Pension website.