You have already received information about these changes from Shell Nederland. There are two consequences for you as a participant in the SSPF pension scheme:
- The SSPF scheme is to become an ‘enhanced average salary’ scheme
- You can accrue a gross pension up to a maximum € 92,600*.
If your pensionable salary exceeds € 92,600*, you may participate in the Shell net pension scheme for that portion of your pensionable salary that exceeds this permissible fiscal limit.
Participation in the net pension scheme offers the following advantages:
- Accrual of capital for net retirement pension and (possibly) surviving dependant’s pension for that portion of salary above the fiscal limit;
- Life insurance for that portion of salary above the fiscal limit;
- Insurance for the continuation of pension capital accrual for that portion of salary above the fiscal limit in the event of total and permanent incapacity for work;
- No tax on the imputed return on investment over saved net retirement pension, maximum use of Box 3 exemption under the tax legislation;
- The entire contribution goes towards your pension, without any deduction of operating costs or profit margins.
The pension entitlements already accrued in your existing pension scheme up to January 1, 2015 are maintained. Your accrued pension entitlements are therefore not affected by the Government measures.
*Amount for 2015