News relating to the SOCPF or pensions in general.
Don’t be caught out! Your retirement is at risk from scammers.
The Trustee Services Unit has become aware of unsolicited approaches and cold-calling to members of Shell pension schemesfrom companies offering financial advice and suggesting you transfer your pension from Shell to another pension scheme, often overseas.
These companies often apply intense, high pressured sales techniques to convince you to invest and will quote inaccurate and misleading information about your benefits from the Shell pension and actions the Trustee or Company have taken (when they have not) or they claim to offer ‘guaranteed returns’ from their own investments.
These companies are becoming increasingly sophisticated with credible websites and supporting materials. Some companies have said that they have been engaged by the Trustee to provide financial advice to members. This is not true – the Trustee and the Company will never give your details to other organisations without your permission. These companies use LinkedIn and similar sites to gather contact information.
Don’t be caught out! Thoroughly check out the firm or person that you are dealing with to ensure that they are reputable and ensure that any provider or scheme you are considering is genuine. To help you avoid pension scams and check if a firm is genuine visit the FCAs website Scam smart.
The 2020 Source
The 2020 edition of the SOCPF Source, the newsletter from Shell Trust Bermuda, is now available to view here.
This edition features details of the SOCPF funding, how the SOCPF’s investments have performed, The impact of COVID-19 and how to avoid pension scams.
Message from the Trustee on COVID-19
In these unsettling times, as we all change the way we go about our lives in order to control the spread of COVID-19, we would like to reassure you that the Pensions Administration Team is maintaining normal service while following Shell and Government advice for keeping our staff safe, including working from home as far as possible. Pension payments will be made as normal on the first working day of each month.
Some of you may need to contact us in relation to your Shell pension (for example, an address change) and you can continue to do so in the usual way: email to UK-PensionsAdmin@shell.com or call on +44 (0)20 7934 1190 (if you cannot get through straight away, please leave a message and we will call you back within 48 hours).
Due to possible delays with the post, if you have to mail anything to us you may experience a delay in our response to you. Where possible, we would encourage you to email the Pensions Administration Team rather than using mail. We will accept scanned versions of documents or photographs of documents over email. To help, please add your pension number to the email.
As a guide, the turnaround for most cases is approximately 10-15 working days.
Whilst we continue to operate as normal at the current time, we will update this note should anything change.