Value transfer

Employees have had a statutory right to transfer pension entitlements since 1994. Most pension funds (including the Shell Pension Fund) are also willing to co-operate in the transfer of pension entitlements accrued before 1994.

Under the Pensions Act, pension funds are not permitted to give their co-operation to value transfer if their assets are lower than their provision for pension obligations. This means their funding ratio is lower than 100%.

Value transfer must be suspended in such a situation and may only resume when the financial position of both pension funds allows this.

Subsequent transfer?

You may have decided not to transfer the value of your pension entitlements on leaving the service of a former employer but wish to do so now.

In that case you will need to check with the pension administrator of your present employer to find out whether value transfer is still possible.

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