You wish to take early retirement

If you opt for early retirement, you must give the Pension Fund and your employing company not less than six and not more than twelve months’ notice of this (this is termed the ‘pension notification period’). If you leave employment under the ‘Shell in Nederland regeling bij overtolligheid’ (Shell in The Netherlands Redundancy Scheme) this notification period is not applicable.

If you wish to retire early, you need to complete the form 'Early retirement or postpone retirement'.

Form 'Early retirement or postpone retirement'

you wish to take early retirement or postpone your retirement, before or after the regulatory retirement age

Consequences for your pension

If you retire early you will accrue fewer pension years and your pension will have to be paid over a larger number of years. Consequently your annual pension will be lower. In the tables on this site you can find the consequences for your accrued pension entitlements.

Fiscal consequences of early retirement and employment

If you opt for early retirement more than five years before the AOW age and you intend to take up employment thereafter, the combination of receiving pension income and other income from employment or other economic activity may have fiscal consequences. In that case the Belastingdienst (Dutch Tax Authority) can declare the pension arrangement as non-approved and levy tax on the ‘economic value’ of your entire pension entitlement plus a potential interest surcharge of 20%. The Pension Fund recommends that you ask advice on this matter from the Dutch Tax Authority or a tax consultant.

For more information, please check the Dutch Tax Authority website (available in Dutch only).

Temporary pension until AOW age

If you take early retirement before your AOW age, as it applies on the retirement date, you may opt for a temporary retirement pension. You can opt for temporary retirement pension in order to bridge the lack of AOW.

Temporary pension

You wish to remain in employment after age 67

If you wish to remain in employment after age 67 and defer your pension commencement date, your pension payments following your retirement will be higher as a result. This is because you will have accrued more pension years and the pension payments will be made over a shorter period. The tables on this site set out the consequences for your accrued pension entitlements.

Table pension choices

If you wish to retire later, you can refer to the Shell intranet, the site 'HR Online' for more information.

More in You accrue pension

Temporary pension

If you take early retirement before your AOW age, as it applies on the retirement date, you may opt for a temporary retirement in order to bridge the lack of AOW. This is paid out of your accrued retirement pension. It will be paid out until you reach your AOW age.

Choosing part-time retirement

In consultation with your employer, you may start retiring gradually by taking part-time retirement (part-time pension) from the age of 55.

Pensioen 1-2-3

You can download Pensioen 1-2-3 by clicking on the image. After that, you can print out the PDF easily.