Indexation is the periodical adjustment of pensions in payment and deferred pensions (non-contributory pension entitlements) by a certain percentage. There are two types of indexation:

  1. Indexation when you work and accrue pension
  2. Indexation when you receive pension or have left Shell employment

Indexation when you work and accrue pension

In case you are accruing pension at Shell, your pension is adjusted unconditionally each year. Unconditional indexation means that adjustment takes place automatically, the Board is not required to pass any resolution in respect of this.

Indexation for active participants (unconditional)

Indexation when you receive pension or have left Shell employment

When you have accrued pension at Shell, your pension is adjusted conditionally each year. In the case of conditional indexation the Board decides whether will adjustment take place. The general principle is that the Pension Fund endeavours to align pension rights and pension entitlements with the rise or fall of the derived consumer price index for all households with effect from February 1 of each year, as determined by Statistics Netherlands (CBS), over the reference period of November of the preceding year to November of the current year.

Indexation for pension beneficiaries (conditional)

For more detailled information about the indexation policy, you can read Article 19 of the Regulations or check the indexation policy in the annual report.

More in Policies

Funding policy / Policy funding ratio

The Pension Fund must ensure that the pension undertakings given by the employer can be paid both now and in the future. The funding ratio is used to measure this.

Responsible Investment

The policy of the Shell Pension Fund in the Netherlands (SSPF) in respect of responsible investment (also known as Environmental, Social and Governance (ESG) policy) is laid down in the Actuarial and Technical Business Report (ABTN).