Possible referendum on Future Pensions Act
Response from Shell Pension.
Shell Pension follows parliamentary debate on possible referendum on Future Pensions Act (Wtp)
Shell Pension is closely following the recent debate on the proposal by New Social Contract (NSC) to hold a possible referendum on conversion as part of the new pension system. Shell's pension funds comply with currently applicable legislation. The intention is for SNPS to move to a new pension scheme on 1 January 2026 and for SSPF on 1 January 2027.
To ensure a timely transition to the new pension schemes, various activities, such as the adaptation of IT systems and asset management structure, are currently underway. Pending the outcome of the parliamentary debate, Shell Pension remains focused on a carefully prepared and timely transition to the new pension schemes. In designing the new pension schemes, we are building on the experience gained by SNPS, which has been operating under the principles of the Wtp since 2013.