If you take part-time leave, you only accrue pension for that portion of the time you continue working and you pay pension contribution on that portion.
Life Cycle leave is also a form of unpaid leave. During Life Cycle leave, you accrue pension for a maximum of six months. This is a regulation of the employer.
In addition, the risk of you dying during your leave is insured up to the tax threshold and the employer pays the contributions for this. This risk coverage ensures that, in the event of your death during your period of leave, the pension years that would otherwise accrue until the official retirement age are factored into the calculation of the partner’s pension.
The risk that you become totally or partially unfit for work due to illness or disability during your leave is also insured up to the tax threshold. The contributions for this are paid by the employer.
If your pensionable salary exceeds the permissible tax threshold you may participate in the Shell Net pension scheme.
For more information about these types of leave please visit HR Online on the Shell intranet.
Pension accrual following leave
When you return to work after your leave, your pension accrual is resumed on the basis of your full-time salary and, if appropriate, your post-leave part-time working percentage.