{"organism":"Page","children":[{"organism":"Container.Raw","children":[{"organism":"Metadata","model":{"title":"What if I want to take my pension?","text":"\u003Cp\u003EOnce you have left Shell, your benefits will remain deferred until you decide to take your pension.\u003C/p\u003E\r\n","links":[{"name":"What if I want to take my pension?","value":"https://pensions.shell.co.uk/socpf/left-shell/what-if-i-want-to-take-pension.html"}],"image":{"src":"https://pensions.shell.co.uk/socpf/left-shell/what-if-i-want-to-take-pension/_jcr_content/root/metadata.shellimg.jpeg/1725283684098/looking-up-at-tall-tree.jpeg","alt":"Looking up at tall tree canope with the sun peering through","width":5555,"height":3137}},"id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/metadata"},{"organism":"ContentOwner","model":{},"id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/contentowner"},{"organism":"Container.Header","children":[{"organism":"Container.Raw","ref":"https://pensions.shell.co.uk/_jcr_content/root/header/inherited.model.json","id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/header/inherited","model":{}},{"organism":"Breadcrumb","model":{"links":[{"name":"Home","value":"https://pensions.shell.co.uk/"},{"name":"SOCPF","value":"https://pensions.shell.co.uk/socpf.html"},{"name":"I have left Shell","value":"https://pensions.shell.co.uk/socpf/left-shell.html"},{"name":"What if I want to take my pension?","value":"https://pensions.shell.co.uk/socpf/left-shell/what-if-i-want-to-take-pension.html"}]},"id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/header/breadcrumb"}],"id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/header","model":{}},{"organism":"Container.Main","children":[{"organism":"Container.Section","children":[{"organism":"PageHeader","color":"inherited","model":{"title":"What if I want to take my pension?","text":"\u003Cp\u003EOnce you have left Shell, your benefits will remain deferred until you decide to take your pension.\u003Cbr\u003E\r\nYou can wait until your Pension Age or take your pension benefits early, from age 55 onwards.\u003C/p\u003E\r\n","image":{"src":"https://pensions.shell.co.uk/socpf/left-shell/what-if-i-want-to-take-pension/_jcr_content/root/main/section/page_header.shellimg.jpeg/1725283704955/looking-up-at-tall-tree.jpeg","alt":"Looking up at tall tree canope with the sun peering through","width":5616,"height":1404}},"id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/main/section/page_header"},{"organism":"Container.FAQ","colspan":8,"colstart":3,"children":[{"organism":"AccordionItem.FAQ","color":"inherited","id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/main/section/list/list_item","model":{"title":"How much pension will I get?","text":"\u003Cp\u003EYour pension benefits are set out in the letter you received from the Pensions Administration Team after you left.\u003C/p\u003E\r\n\u003Cp\u003EIf you joined the SOCPF before 1 January 2009, your pension at date of leaving will be revalued over the period from your date of leaving to date of retirement, increasing in line with increases in the Retail Prices Index (RPI) up to 7% each year.\u003C/p\u003E\r\n\u003Cp\u003EIf you joined the SOCPF on or after 1 January 2009, your pension at date of leaving will be revalued over the period from your date of leaving to date of retirement, increasing in line with increases in the Retail Prices Index (RPI) up to 5% each year.\u003C/p\u003E\r\n\u003Cp\u003EIn the first year after leaving active service the increase will be pro-rated reflecting the fact that the pension being increased has been in deferment for less than a full year.\u003C/p\u003E\r\n"}},{"organism":"AccordionItem.FAQ","color":"inherited","id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/main/section/list/list_item_245158736","model":{"title":"What if I have paid AVCs whilst a member of the SCPF?","text":"\u003Cp\u003EIf you have paid Additional Voluntary Contributions (AVCs) whilst a member of the SCPF, you can take your AVC benefits at the same time as your main SCPF benefits or later, up to age 75.\u003C/p\u003E\r\n\u003Cp\u003EIf you take your AVC benefits at the same time as your main SOCPF benefits, you will be able to take all of your AVC fund as a cash lump sum, provided it doesn’t exceed 25% of the value of your total pension benefits. Alternatively, you can use it to buy additional annual pension. If you take your AVC fund later than your main SCPF benefits, you will only be able to take up to 25% of your AVC fund as a cash lump sum.\u003C/p\u003E\r\n"}},{"organism":"AccordionItem.FAQ","color":"inherited","id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/main/section/list/list_item_1105247523","model":{"title":"Will I be notified of my options automatically?","text":"\u003Cp\u003EIf you wait until Pension Age to draw your pension, you will receive details of your options shortly before you reach Pension Age. It is important to make sure you tell the Pensions Administration Team when you change address, otherwise payment of your benefits may be delayed. You can do this by completing the \u003Ca href=\"https://pensions.shell.co.uk/socpf/forms-and-helpful-info/forms.html\"\u003EChange of Personal Details Notification form.\u003C/a\u003E\u003C/p\u003E\r\n"}},{"organism":"AccordionItem.FAQ","color":"inherited","id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/main/section/list/list_item_1793107078","model":{"title":"What if I want to retire before Pension Age?","text":"\u003Cp\u003EYou can request an early retirement quotation from the Pensions Administration Team, who will confirm the procedure if you wish to take your pension early. Your pension will be reduced to reflect the longer time it will be paid. The early retirement reduction factor applied is currently 3.5% for each year before Pension Age you retire. This factor is subject to regular review by the Founding Companies and may change in the future.\u003C/p\u003E\r\n"}},{"organism":"AccordionItem.FAQ","color":"inherited","id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/main/section/list/list_item_1547026262","model":{"title":"Can I take a cash sum as well as a pension?","text":"\u003Cp\u003E\u003C/p\u003E\u003Cp\u003E \u003C/p\u003E\r\n\u003Cp\u003EYes, you can either take a pension only, or elect to give up some (up to a maximum of 25% of the capital value) for a cash lump sum.\u003C/p\u003E\r\n\u003Cp\u003EPlease note that commutation factors are changing with effect from 1 October 2024 to reflect market conditions, such that the cost of converting pension to a lump sum at retirement will increase. The factors are used when a member chooses to convert some of their pension to a lump sum at retirement and are subject to change from time to time. The maximum lump sum to which you are entitled will depend on the factors in force as at the date of your retirement.\u003C/p\u003E\r\n\u003Cp\u003E \u003C/p\u003E\r\n\u003Cp\u003E\u003C/p\u003E\r\n"}}],"id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/main/section/list","model":{}}],"id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/main/section","model":{}},{"organism":"Container.Section","color":"brand1-subtle","children":[{"organism":"PromoCard","color":"brand1","colspan":3,"id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/main/section_1343511448/promo","model":{"title":"What happens if I become ill?","text":"\u003Cp\u003EIf you become seriously ill you may qualify for 'serious ill-health commutation', which means that all your pension benefits may be exchanged for a one-off lump sum.\u003C/p\u003E\r\n\r\n\r\n","links":[{"value":"https://pensions.shell.co.uk/socpf/left-shell/what-if-i-become-ill.html"}],"image":{"src":"https://pensions.shell.co.uk/socpf/left-shell/what-if-i-want-to-take-pension/_jcr_content/root/main/section_1343511448/promo.shellimg.jpeg/1725284427309/water-droplets-on-the-grass.jpeg","alt":"Dew drops on grass","width":2479,"height":1397}}},{"organism":"PromoCard","color":"brand1","colspan":3,"id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/main/section_1343511448/promo_copy","model":{"title":"What happens if I die?","text":"\u003Cp\u003EIf you die after you have left Shell, but before your deferred pension starts being paid, immediate pensions are payable to your Qualifying Spouse and Children.\u003C/p\u003E\r\n","links":[{"value":"https://pensions.shell.co.uk/socpf/left-shell/what-if-i-die.html"}],"image":{"src":"https://pensions.shell.co.uk/socpf/left-shell/what-if-i-want-to-take-pension/_jcr_content/root/main/section_1343511448/promo_copy.shellimg.jpeg/1725284899342/yellow-crab.jpeg","alt":"Yellow crab moving on sand","width":5126,"height":2889}}},{"organism":"PromoCard","color":"brand1","colspan":3,"id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/main/section_1343511448/promo_copy_copy_1876","model":{"title":"What if my personal details change?","text":"\u003Cp\u003EIf any of your personal details like address, marital or civil partnership status change you should notify the Pensions Administration Team.\u003Cbr\u003E\r\n\u003C/p\u003E\r\n\r\n\r\n","links":[{"value":"https://pensions.shell.co.uk/socpf/left-shell/what-if-my-personal-details-change.html"}],"image":{"src":"https://pensions.shell.co.uk/socpf/left-shell/what-if-i-want-to-take-pension/_jcr_content/root/main/section_1343511448/promo_copy_copy_1876.shellimg.jpeg/1725290990651/skyscape-with-clouds-over-the-sea.jpeg","alt":"Seascape and skyscape","width":5284,"height":2975}}},{"organism":"PromoCard","color":"brand1","colspan":3,"id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/main/section_1343511448/promo_copy_120318702","model":{"title":"What if I want to transfer my pension?","text":"\u003Cp\u003EYou may be able to transfer the cash equivalent of your SOCPF benefits but unlike the SCPF, the SOCPF is not an HMRC Registered Pension Scheme and restrictions may apply.\u003Cbr\u003E\r\n\u003C/p\u003E\r\n","links":[{"value":"https://pensions.shell.co.uk/socpf/left-shell/what-if-i-want-transfer-benefits.html"}],"image":{"src":"https://pensions.shell.co.uk/socpf/left-shell/what-if-i-want-to-take-pension/_jcr_content/root/main/section_1343511448/promo_copy_120318702.shellimg.jpeg/1725375082958/flowers-in-a-field-with-sun-shining.jpeg","alt":"Flowers in a field with sun shining","width":5594,"height":3155}}}],"id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/main/section_1343511448","model":{"title":"More in left Shell"}}],"id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content/root/main","model":{}},{"organism":"Container.Footer","children":[{"organism":"Breadcrumb.Large","model":{"links":[{"name":"Home","value":"https://pensions.shell.co.uk/"},{"name":"SOCPF","value":"https://pensions.shell.co.uk/socpf.html"},{"name":"I have left 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Accordingly, neither Shell plc nor any member of the Shell Group endorses, adopts, certifies or otherwise validates the information and material contained on the linked website. This includes its sponsor and any policies, activities or services offered on the site, by any advertiser on the site or linked to the site.\r\nThank you for visiting the Shell global website."},{"name":"themeMode"},{"name":"lastModified","value":"2024-09-26T16:32:25.938Z"},{"name":"themeName","value":"base"},{"name":"themePath","value":"/etc.clientlibs/amidala/clientlibs/theme-base"},{"name":"themeCss","value":"/etc.clientlibs/amidala/clientlibs/theme-base.ACSHASHb291465fc8d3c7bcefde74d34044b698.css"}],"image":{"src":"https://pensions.shell.co.uk/socpf/left-shell/what-if-i-want-to-take-pension/_jcr_content/root/metadata.shellimg.jpeg/1725283684098/looking-up-at-tall-tree.jpeg","alt":"Looking up at tall tree canope with the sun peering through","width":5555,"height":3137}},"id":"/content/shell/business/pensions/en_gb/socpf/left-shell/what-if-i-want-to-take-pension/jcr_content"}