Agreement For Pension

Individuals who joined Shell after 1 July 2013 and whose base countries are the Netherlands participate in the Shell Nederland Pensioenfonds Stichting (SNPS). SNPS operates a defined contribution system. Members and Shell pay a monthly contribution, the amount of which depends on the salary of a pension-eligible member up to the tax limit; This contribution aims to ensure that participants accumulate their own personal pension capital. This is eventually converted into a pension (participants can freely choose between a fixed or variable pension). Many agreements also impose service standards. For example, if the service provider makes a call center available to plan members, a service standard would ensure that the call center is available at certain times and that plan members will not be kept waiting for more than a specified period of time. . . .