What is an average salary scheme?
In an average salary scheme you accrue an amount of pension each year. This relates to a percentage of the pensionable salary that you earn in a year. At retirement you receive pension benefit based on the average salary that you earned throughout your years as a participant in the scheme.
Video average salary scheme
In the below video about the Shell average salary scheme Janwillem Bouma, general manager of SSPF, has a conversation with an Shell employee about this scheme.
Please note the video is recorded in Dutch - you can click on the icon 'subtitles' to see the English subtitles. You can find this icon on the video screen below in the middle. (your settings need to be set on English subtitles)
How is indexation addressed in the average salary scheme?
Indexation of active participants' pension entitlements is unconditional: the Board is not required to pass any resolution in respect of this. Accrued pension is automatically adjusted based on developments in the majority of top level positions in job groups 1 to 15 as employed in the remuneration system of Shell Nederland B.V. This ensures that when your pension commences it will have kept pace with general salary increases at Shell in the Netherlands.
For more information about indexation please see the indexation policy.
Average salary scheme factsheet
In this fact sheet you can read more about the average salary scheme of SSPF.
Frequently asked questions
Here you can find the answers to a number of questions about the Shell average salary scheme.