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