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Pensions in the UK
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What if I leave Shell?

If you leave Shell employment for any reason, your options will depend on your age and Pensionable Service. They will generally take into account any period of membership of the Shell Overseas Contributory Pension Fund (SOCPF), as explained in the Linked Fund Membership and the Inter Fund Linking Rules (IFLR) factsheet.

I am under age 55

You will become a deferred member.

A deferred member is one that has stopped paying into the scheme but is not yet receiving a pension.

As a deferred member you will receive an Annual Benefit Statement which shows the benefits you have accrued and any pensions increase that has been applied and how much they will be worth at Pension Age. You can view your Annual Benefit Statement by logging onto Member Self Service.”

I am over age 55

You can take an immediate pension or defer taking your pension until Pension Age.

If you take an immediate pension it will be reduced for each year it is drawn earlier than Pension Age, to take account of it being paid for longer. The Pensions Administration Team can advise you on what you need to do in order to take your pension.

If you do nothing your pension benefits will automatically be deferred until your Pension Age or earlier date that you decide to take your pension.

Useful documents

SCPF Explanatory booklet

More In Work at Shell

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What if I die in service?

If you die in Shell service, as an Active Member, a discretionary lump sum benefit is payable. Immediate pensions are also payable to your Qualifying Spouse and Children.

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What if I want to take my pension?

The main purpose of the SCPF is to provide a pension for members when they retire. You can take your benefits at Pension Age, earlier if you wish, or later if you continue in pensionable employment after Pension Age.