Pension Increases

Pension increases are reviewed on an annual basis, after the publication of inflation measures. For members who joined the Fund before 1 January 2009 pensions in excess of the Guaranteed Minimum Pension will increase each year in line with increases in the December Retail Prices Index (RPI) up to 7% (different increases apply for members of the Moplefan or Enterprise Oil sections). For members who joined the Fund on or after 1 January 2009, pensions will increase each year in line with increases in RPI up to 5%.

Whilst there are no set criteria on what could trigger a decision to award an increase above the relevant cap (7% or 5%); the Company takes into account a number of factors to inform its decision regarding pension increases. These include, but are not limited to, the health of the SCPF, the increase in cost of living and the future cost of providing an increase.

The Company considers the increases provided by the SCPF in 2024, and in previous years, to be market leading when compared to other UK pension funds of other large companies.

The Shell Pensioner Programme (SPP) is a Shell-funded service for Shell Pensioner Association members in receipt of an SCPF or SOCPF pension, that provides information, guidance, and support on a range of issues affecting pensioners including those in financial need or hardship with access to benevolent assistance through Shell Pensioners Benevolent Association (SPBA).

The SPBA can help by giving one-off grants and interest-free loans where appropriate. Pensioners in need of support can call the SPP helpline on 0345 850 8944 on weekdays from 10am to 4pm except for bank holidays, or email shell-pensioner-programme@shell.com or for benevolence can contact Ken Sleat SPBA Treasurer on 020 7934 5131 or email ken.k.sleat@shell.com.

Enterprise Section

If you are a member of the Enterprise section of the SCPF your pension is increased annually in April.

For pensions in payment, the excess over GMP built up before 6 April 1997 will increase each year in line with increases in the January RPI measure up to 3%.

Pensions in payment built up after 5 April 1997 will increase each year in line with increases in the January RPI measure up to 5% pa.

Moplefan section

If you are a member of the Moplefan section of the SCPF your pension is increased annually in December.

For pensions in payment, the excess over GMP receives an increase each year in line with increases in the September RPI measure up to 5%. In addition, the total pension built up before 12 January 2001, including GMP, will increase by a minimum of 3% each year.