Income and expenditure
Here’s a summary of the key figures from our Annual Report and Financial Statements dated 31 December 2024.
| 2023 (£m) | 2024 (£m) | ||
| We started the year with a Fund value of: | 12,901 | 12,398 | |
| Income (amounts that increase the value of the Fund) |
|
||
| Member contributions |
|
- 5 |
- 8 |
| Employer contributions |
|
- 10 |
- 10 |
| Investment income | 64 | 77 | |
| Total income | 79 | 95 | |
| Expenditure (amounts that decrease the value of the Fund) | |||
| Benefits paid** | 582 | 603 | |
| Transfers out of the SCPF | 29 | 10 | |
| Administration and investment expenses | 33 | 35 | |
| Total expenditure | 644 | 648 | |
| Changes to investment market values | 62 | (722) | |
| We ended the year with a Fund value of: | 12,398 | 11,123 |
*Members’ ordinary contributions are paid by Shell via a salary sacrifice arrangement.
**Including commutation lump sums on retirement and lump sum death benefits.
