The 2018 Source

We are pleased to announce the new-look 2018 SCPF Source is ready to view, which, along with the usual information on investments and the Trustee Board, also includes the results of the 2017 actuarial valuation.

November 2018

An interview with Tim Morrison

It's been four months since Tim Morrison took over as Chairman of Shell Pensions Trust (the Trustee for the SCFP). In this short video, Tim talks about what has been keeping the Board busy and the areas they will be concentrating on in the coming years. Also look out for this year’s edition of the Source due out in November, which includes the results of the recent Actuarial Valuation.

November 2018

GMP Court Ruling

You may have recently seen in the News the decision by the High Court that pension schemes should equalise benefits between women and men who have guaranteed minimum pensions (GMPs). This is a complex area and the Shell Pensions Trust are currently talking to their advisers to establish who this may affect and on the best course of action to implement any changes.

October 2018

Message from Clive Mather

After 10 years as Chairman of the Shell Pensions Trust, the time has come to hand over. I can think of no better person than Tim Morrison as my successor. The SCPF has always been one of the top schemes in the UK and I know it will be in safe hands.

I would like to thank all of my fellow Directors and the Trustee Services Unit team for their support over the last decade. Together we haveweathered many challenges; market crashes, quantitative easing, ever increasing regulatory pressures and latterly all the uncertainty following the Brexit referendum.

Throughout all these testing times the commitment of the Company to the Fund has never wavered and that is fundamental to the long term health of the SCPF. With a diversified portfolio of quality investments and a strong sponsor, the Fund is well placed to cope with whatever new problems the future holds, and as importantly to seize new opportunities.

It has been a privilege to Chair the SCPF and I do wish Tim every success as he now takes the helm.

June 2018

New Privacy Notice

As the General Data Protection Regulation takes effect on the 25th May, we have made some important changes and improvements to our Privacy Policy. Please have a look at our updated Privacy Notice to see how we handle your data and how we protect it.

May 2018

The Green Finance Inquiry

The Environmental Audit Committee has written to the top 25 pension funds in the UK, to ask how they are considering environmental risks such as climate change. The letter contains nine questions on pension fund investment and climate change-related risks. You can read a copy of the letter from the Environmental Audit Committee to the SCPF and read our response here.

April 2018

SCPF Funding

You may have seen recent articles in UK newspapers reporting on the size of some British companies’ pension deficits including Royal Dutch Shell.

The figures the press quote are often taken from the published accounts for Royal Dutch Shell plc, these are sometimes misconstrued and may incorrectly use group data when referring to the UK Pension fund. The Royal Dutch Shell plc accounts quote the total accounting liability for all of Shell’s pension arrangements around the world. The majority of Shell’s pension schemes, including the SCPF, have assets supporting these liabilities. In addition, there are however some Shell pension arrangements that are unfunded as permitted under local legislation, so will show a shortfall for reporting purposes.

 It is always important to remember that the SCPF’s assets are ring-fenced and are therefore separate from Shell’s other pension schemes as well as the Company. You can read about the details of SCPF's funding position in our annual newsletter the Source

February 2018

GDPR

The General Data Protection Regulation, better known as “GDPR” is a new EU regulation which comes into force in May 2018. The new regulation has been designed to update the existing Data Protection rules and give people more control over how their personal information is collected, stored, shared and used. We will be contacting all members before May to explain how we use and protect your data.

January 2018

More in Shell Contributory Pension Fund