{"organism":"Page","children":[{"organism":"Container.Raw","children":[{"organism":"Metadata","model":{"title":"Comment from the Fund Actuary","text":"Insights from the Fund Actuary on the Shell Overseas Contributory Pension Fund’s financial position, funding level, and progress against the Journey Plan.","links":[{"name":"Comment from the Fund Actuary","value":"https://pensions.shell.co.uk/source/socpf/funding-news/comment-from-the-fund-actuary.html"}],"image":{"src":"https://pensions.shell.co.uk/source/socpf/funding-news/comment-from-the-fund-actuary/_jcr_content/root/metadata.shellimg.jpeg/1760482100574/greg-tucker-portrait.jpeg","alt":"Greg Tucker","width":2243,"height":1264}},"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/comment-from-the-fund-actuary/jcr_content/root/metadata"},{"organism":"ContentOwner","model":{},"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/comment-from-the-fund-actuary/jcr_content/root/contentowner"},{"organism":"Container.Header","children":[{"organism":"Topbar.Left","color":"brand1-subtle","model":{"links":[{"name":"SCPF news website","value":"https://pensions.shell.co.uk/source/scpf.html"},{"name":"SOCPF news website","value":"https://pensions.shell.co.uk/source/socpf.html"},{},{"name":"Jargon","value":"https://pensions.shell.co.uk/source/socpf/jargon.html"}]},"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/comment-from-the-fund-actuary/jcr_content/root/header/topbar_copy_copy_cop"},{"organism":"Navigation","color":"inherited","model":{"links":[{"value":"https://pensions.shell.co.uk/source/socpf.html"},{},{"name":"Home","value":"https://pensions.shell.co.uk/source/socpf.html"},{"name":"Funding","value":"https://pensions.shell.co.uk/source/socpf/funding-news.html"},{"name":"Investments","value":"https://pensions.shell.co.uk/source/socpf/investments-news.html"},{"name":"Financials","value":"https://pensions.shell.co.uk/source/socpf/financials-news.html"},{"name":"Trustee news","value":"https://pensions.shell.co.uk/source/socpf/trustee-news.html"},{},{"name":"Who can help?","value":"https://pensions.shell.co.uk/source/socpf/socpf-who-can-help.html","icon":"/content/dam/shell/icons/global/status/question-mark-circle.svg"},{"name":"Calendar","value":"https://pensions.shell.co.uk/source/socpf/calendar.html","icon":"/content/dam/shell/icons/global/time/calendar.svg"},{"name":"Search","value":"https://pensions.shell.co.uk/search.html","icon":"/content/dam/shell/icons/global/operations/search.svg"}]},"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/comment-from-the-fund-actuary/jcr_content/root/header/navigation_copy_copy"},{"organism":"Breadcrumb","model":{"links":[{"name":"Home","value":"https://pensions.shell.co.uk/"},{"name":"Welcome to the Source","value":"https://pensions.shell.co.uk/source.html"},{"name":"SOCPF","value":"https://pensions.shell.co.uk/source/socpf.html"},{"name":"Funding news","value":"https://pensions.shell.co.uk/source/socpf/funding-news.html"},{"name":"Comment from the Fund Actuary","value":"https://pensions.shell.co.uk/source/socpf/funding-news/comment-from-the-fund-actuary.html"}]},"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/comment-from-the-fund-actuary/jcr_content/root/header/breadcrumb"}],"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/comment-from-the-fund-actuary/jcr_content/root/header","model":{}},{"organism":"Container.Main","children":[{"organism":"Container.Section","children":[{"organism":"PageHeader","color":"inherited","model":{"title":"Comment from the Fund Actuary","text":"\u003Cp\u003EGreg Tucker - Fund Actuary (Aon)\u003C/p\u003E\r\n\r\n\r\n","image":{"src":"https://pensions.shell.co.uk/source/socpf/funding-news/comment-from-the-fund-actuary/_jcr_content/root/main/section/page_header.shellimg.jpeg/1760482018996/greg-tucker-portrait.jpeg","alt":"Greg Tucker","width":4096,"height":1262}},"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/comment-from-the-fund-actuary/jcr_content/root/main/section/page_header"},{"organism":"PromoSimple.Text","color":"inherited","id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/comment-from-the-fund-actuary/jcr_content/root/main/section/text","model":{"text":"\u003Cp\u003EThe most recent formal assessment of the Fund’s financial position at 31 December 2023 was completed during 2024. At the valuation date the Fund had assets valued at around 104% of the liabilities. Over 2024, the funding level has remained strong, improving to 106%. The Fund’s investment strategy focuses on reducing exposure to risk by investing in assets that align with its liabilities, so this approach has protected the Fund against any significant market fluctuations over the year. As part of the valuation at 31 December 2023, the Trustee and Company have agreed an updated level of contributions to be paid into the Fund. With effect from 1 August 2024, regular Company contributions have been set at 25% of members’ Pensionable Salaries. This reflects the results of the 31 December 2023 valuation and the Fund’s strong funding position.\u003C/p\u003E\r\n\u003Cp\u003EThe Trustee has also refined the Journey Plan to further reduce risk in the Fund over time and achieve a position of self-sufficiency, where the Fund is able to meet all benefit payments as they fall due with a very low probability of needing any further contributions from the Company. During the first half of 2025, the Fund has maintained a funding level of around 106% and continues to make good progress against the new Journey Plan.\u003C/p\u003E\r\n"}}],"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/comment-from-the-fund-actuary/jcr_content/root/main/section","model":{}},{"organism":"Container.Section","color":"brand1-subtle","children":[{"organism":"Container","children":[{"organism":"PromoCard","color":"brand1","colspan":4,"id":"/content/experience-fragments/shell/business/pensions/socpf-you-may-also-be-interested-in/master/jcr_content/root/promo_copy_copy_copy_893473601","model":{"title":"SOCPF funding position","links":[{"value":"https://pensions.shell.co.uk/source/socpf/funding-news/socpf-funding.html"}],"image":{"src":"/content/experience-fragments/shell/business/pensions/socpf-you-may-also-be-interested-in/master/_jcr_content/root/promo_copy_copy_copy_893473601.shellimg.jpeg/1760483769021/windmill-in-a-field.jpeg","alt":"Windmills for wind power generation","width":3840,"height":2160}}},{"organism":"PromoCard","color":"brand1","colspan":4,"id":"/content/experience-fragments/shell/business/pensions/socpf-you-may-also-be-interested-in/master/jcr_content/root/promo_copy_copy_copy_788765664","model":{"title":"Beware of Overseas Transfer Scams","links":[{"value":"https://pensions.shell.co.uk/source/socpf/trustee-news/beware-of-overseas-transfer-scams.html"}],"image":{"src":"/content/experience-fragments/shell/business/pensions/socpf-you-may-also-be-interested-in/master/_jcr_content/root/promo_copy_copy_copy_788765664.shellimg.jpeg/1760483776210/scpf-pension-news-guard-against-scams.jpeg","alt":"Man using laptop and phone","width":3840,"height":2160}}},{"organism":"PromoCard","color":"brand1","colspan":4,"id":"/content/experience-fragments/shell/business/pensions/socpf-you-may-also-be-interested-in/master/jcr_content/root/promo_copy_112974839_1161360965","model":{"title":"A Message from Ian Robertson","links":[{"value":"https://pensions.shell.co.uk/source/socpf/trustee-news/a-message-from-ian-robertson.html"}],"image":{"src":"/content/experience-fragments/shell/business/pensions/socpf-you-may-also-be-interested-in/master/_jcr_content/root/promo_copy_112974839_1161360965.shellimg.jpeg/1760483786440/ian-robertson.jpeg","alt":"Ian Robertson","width":3840,"height":2160}}}],"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/comment-from-the-fund-actuary/jcr_content/root/main/section_896162971/experience_fragment","model":{}}],"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/comment-from-the-fund-actuary/jcr_content/root/main/section_896162971","model":{"title":"You may also be interested 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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. 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