Partner’s and orphan’s pensions during your employment at Shell from 1 January 2027
If you work at Shell and pass away during your employment, your partner and children will receive benefits. Your partner will receive a lifelong monthly payment. If your partner has not yet reached State Pension age, they will also receive a temporary partner’s pension until the State Pension begins.
Your children will receive a monthly benefit until their 25th birthday. This is different from the current scheme, where children receive an orphan’s pension until age 18 or up to age 24 if they are in full-time education. Under the new scheme, whether your children are studying no longer matters. They will receive benefits until they turn 25.
From a fixed benefit to a variable benefit
In the current scheme, your partner and children receive a fixed benefit if you pass away. The amount depends on how long you have worked at Shell. This will change in the new scheme.
If you work at Shell and pass away during your employment, your partner and children are insured for a benefit. When the partner’s pension comes into effect, your partner will receive 20% of your pensionable salary, regardless of your length of service. Your partner may also receive a temporary partner’s pension. For your children, the benefit is 8% per child.
The funds for these benefits are placed in a pension pot which we invest. The value of this pot can increase or decrease depending on how the investments perform. That is why, under the new scheme, the benefit is no longer fixed but variable. Each July, we review the investment results and adjust the amount of the benefit accordingly. This means the amount can be slightly higher or lower each year.
Important: what you’ve already accrued remains yours
The partner’s and orphan’s pension you’ve accrued with SSPF up to 1 January 2027 remains yours. That won’t change, even if you leave Shell. Its value will be placed in a separate pension pot. If you pass away, your partner will receive this accrued pension, and your children will receive the accrued orphan’s pension. If you pass away after 1 January 2027 while still working at Shell, your partner and children will receive:
- The accrued partner’s and orphan’s pension from the current scheme, and
- The insured partner’s and orphan’s pension from the new scheme.
If you leave Shell
When you leave Shell, you’ll stay insured for the (temporary) partner’s pension and orphan’s pension under the new scheme for another three months. This cover ends automatically after three months, or sooner if you start a new job within that time. If that happens, make sure you inform the pension fund.
If you receive unemployment benefit (WW) or sickness benefit (Ziektewet) after leaving Shell, your insurance will continue for as long as you receive these benefits – even if you move from one to the other, in either order.
If, after three months, you don’t have a new job and aren’t receiving benefits, you can choose to continue the partner’s pension insurance voluntarily. The cost will be taken from your pension pot. If you pass away within three months of leaving Shell, or while continuing voluntarily, your partner will receive two parts: the partner’s pension you accrued before 2027, and the partner’s pension insured under the new scheme. If you decide not to continue voluntarily, your partner will only receive the partner’s pension you accrued before 1 January 2027.
Pension choices for you and your partner in the new scheme
When you retire, you can choose to use part of your accumulated pension pot to purchase a monthly benefit. This applies to everyone who has built up a pension with SNPS, whether you are still working at Shell or have already left the company. You also choose whether you want to use part of your pension to provide a benefit for your partner if you pass away after your retirement date. If you choose this option, your partner will receive a monthly benefit. If you do not, our own pension benefit from retirement onwards will be higher. Your partner must agree to this decision.
Do you take part in the net pension scheme?
If so, your partner will be entitled to a benefit from this part of your pension should you pass away while still employed. Please note that your children will not receive any benefit from the net pension scheme.
How we know who your partner and children are
Your partner is the person you are married to, have a registered partnership with, or live with in a shared household. If you live in the Netherlands, we automatically receive details about your partner from the municipality when you marry or register a partnership. We also receive information about your children automatically, so you don’t need to do anything yourself.
If you live together under a cohabitation agreement, you must register your partner via my-Shellpension. Otherwise, we won’t know who is entitled to a partner’s pension should you pass away. If you live abroad, we do not receive this information automatically. Please make sure you report any changes in your situation through my-Shellpension.
At a glance: survivors’ pension before and after 2027
What will change for your partner and children if you pass away?
| Topic | Current scheme | New scheme |
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Amount of partner’s and orphan’s pension
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Under the current scheme, you accrue a partner’s pension during your employment. The amount depends on the old-age pension you accrue. By the time you finish your service, your partner’s pension will equal 70% of the old-age pension you have accrued. Each child is entitled to an orphan’s pension of 14% of the partner’s pension, plus the temporary partner’s pension. If both parents pass away, this amount is doubled.
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Under the new scheme, the partner’s pension is risk-based. This means you are insured for it for as long as you work at Shell. The amount is the same for everyone: 20% of your pensionable salary, regardless of how long you have worked here. The orphan’s pension is 8% per child, and if both parents pass away, this amount is doubled.
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Partner’s pension if you pass away while still employed
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If you pass away while still employed, your partner will receive a fixed benefit equal to 70% of the old-age pension you would have accrued by retirement. This partner’s pension is a guaranteed benefit, which may be increased annually depending on the financial position of the fund.
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Your partner is insured for a variable partner’s pension of 20% of your pensionable salary, regardless of the length of your service. This is in addition to any pension you accrued before 1 January 2027. The variable partner’s pension moves in line with investment results. The payment is adjusted once a year, in July, based on those results. This means the amount may increase or decrease slightly each year.
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Temporary partner’s pension
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If you pass away while working at Shell and your partner has not yet reached State Pension age, they will receive a temporary partner’s pension until their State Pension begins. This is currently a fixed benefit.
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If you pass away while employed, within three months of leaving Shell, or during voluntary continuation, your partner will receive a temporary partner’s pension until their State Pension begins. This will be a variable benefit.
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Partner’s pension after you leave Shell
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If you leave Shell, your partner’s pension will be based on the amount you have accrued up to that point.
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After you leave Shell, you remain insured for the partner’s pension and temporary partner’s pension for three months. If you choose voluntary continuation, your cover lasts longer. If you pass away during this period, your partner will receive both the pension you accrued before 1 January 2027 and the insured partner’s pension under the new scheme. If you do not continue the insurance, your partner will only receive the pension accrued before 2027.
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Partner’s pension after you retire.
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The choices you made at retirement will continue to apply.
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If you choose a variable pension with Shell after the transition to the new scheme, your earlier choices remain in place. After the transition, you will choose again between a fixed or variable pension. If you opt for a variable pension, the partner’s pension will also become variable.
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Orphan’s pension
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If you work at Shell and pass away, your children will receive a benefit until they reach age 18, or age 24 if they are in full-time education. This is a fixed amount equal to 14% of the partner’s pension. If both parents pass away, the amount is doubled.
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Under the new scheme, if you pass away while working at Shell, your children will receive a variable benefit until age 25, regardless of whether they are studying. This is 8% of your pensionable salary per child. If both parents pass away, the amount is doubled.
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Net pension
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The net pension is insured on a risk basis. This means a benefit is available for your partner and children if you pass away while employed or after retirement. If you have left employment and are no longer receiving a pension, no benefit is paid from the net pension.
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Under the new scheme, the net pension remains risk based. Only your partner will receive a variable benefit if you pass away while employed or after retirement. If you have left employment and are no longer receiving a pension, no benefit is paid from the net pension. Children do not receive a benefit from the net pension.
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