You received your Uniform Pension Overview (UPO) by the end of April. It may the case that the projected amount in your UPO was lower than in previous years. You can read here what causes this and what it means.

Each year you receive a Uniform Pension Overview (UPO)
The UPO indicates how much pension capital you have accrued. And what you are expected to accrue in the coming years. You can also read how much pension it is expected you will be able to receive later.

How much pension you receive exactly is not fixed in advance
We invest all premiums contributed by you and the employer. This is used to accrue a piece of pension capital annually. You use this investment to purchase your pension on your retirement date. The amount of pension you will receive is therefore not fixed in advance. The reason being that the value of the investments may change. How much pension you will be able to purchase depends among other things on the total pension capital you have accrued, interest rates and life expectancy at the moment your retire.

Regulations apply to the calculations of the expected pension in your UPO

1. Pension funds are obliged to perform calculations on the basis of scenarios provided by De Nederlandsche Bank (DNB)
We use the DNB scenarios to calculate your expected pension. These scenarios contain economic expectations concerning interest and inflation among other things. DNB adjusts the scenarios annually.

2. Pension funds draw up the UPO in accordance with the Federation of the Dutch Pension Funds manual
The manual prescribes how wage developments should be handled. We therefore also provide an estimate of your expected pension in case you keep working. You can see this under 'Estimation of your pension to be purchased if you keep working'. We are not allowed to take account of a positive future development of your wage in that calculation. Over the past 2 years we did take account of expected wage increases in your UPO. It may therefore be the case that the expected pension in case you keep working is lower this year than it was last year.

We also provide an estimate of your pension in case you keep working and developments are favourable or unfavourable. You can read this under 'What happens in case of favourable or unfavourable developments?'. We do take account of expected wage developments in those calculations. And also of a possible increase in prices (inflation). This estimate therefore represents the purchasing power of your pension.

Stay in control of your financial future
The UPO is a snapshot in time. Visit my-Shell pension for a current overview of your own pension capital. The Flexplanner helps you gain insight into your pension and the impact of your pension decisions on your financial situation.