Leaving Shell employment If you leave Shell before your retirement date, you will be entitled to a deferred pension. These are non-contributory entitlements to your accrued retirement pension, partner’s pension and orphan’s pension. The deferred pension enters effect on the retirement age. This is 65 as from 1st January 2006. Entering pension into effect early/later You may have your deferred pension enter into effect earlier than at the age of 65, from the age of 55. The earlier you have your pension enter into effect, the lower your annual pension income will be. Alternatively, as long as you are in employment, you can opt to have your deferred pension enter into effect later than at the age of 65, up to the age of 70. If you are no longer in employment, your pension will enter into effect at the age of 65 at the latest. Pension accrual while unemployed If you are 40 or older and you become unemployed when you leave Shell employment, you may, under certain circumstance, be able to continue accruing retirement and partner's pension. |
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This arrangement is administered by the Stichting Financiering Voortzetting Pensioenverzekering. Information is available from the office of the Uitvoeringsinstituut Werknemersverzekeringen (UWV). The link to the UWV website (only available in Dutch) can be found on the page 'useful links'. Value transfer to a different pension fund
If you leave Shell service and start working elsewhere, you may transfer your Shell pension entitlements to your new employer’s pension scheme. Under the Pensions Act, a pension fund may not carry out value transfers if the assets are lower than the provision for pension liabilities. In that situation the value transfer must be suspended and will be resumed as soon as the financial position of the pension fund so permits. You can find more information about your pension entitlements after you have left Shell service on this website under ‘You have left Shell employment’. |
