{"organism":"Page","children":[{"organism":"Container.Raw","children":[{"organism":"Metadata","model":{"title":"SOCPF Funding","text":"See the latest funding status of SOCPF, assets vs liabilities, funding level, and how the Trustee works to keep the pension scheme fully funded.","links":[{"name":"SOCPF Funding","value":"https://pensions.shell.co.uk/source/socpf/funding-news/socpf-funding.html"}],"image":{"src":"https://pensions.shell.co.uk/source/socpf/funding-news/socpf-funding/_jcr_content/root/metadata.shellimg.jpeg/1760482118981/windmill-in-a-field.jpeg","alt":"Windmills for wind power generation","width":3840,"height":2160}},"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/metadata"},{"organism":"ContentOwner","model":{},"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/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/socpf.html"},{"name":"SOCPF news website","value":"#"},{},{"name":"Jargon","value":"https://pensions.shell.co.uk/source/socpf/jargon.html"}]},"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/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/socpf-funding/jcr_content/root/header/navigation_copy_6610"},{"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":"SOCPF Funding","value":"https://pensions.shell.co.uk/source/socpf/funding-news/socpf-funding.html"}]},"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/header/breadcrumb"}],"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/header","model":{}},{"organism":"Container.Main","children":[{"organism":"Container.Section","children":[{"organism":"PageHeader","color":"inherited","model":{"title":"SOCPF Funding","text":"\u003Cp\u003EOur priority as Trustee is to make sure that all members’ benefits are paid in full and on time throughout the life of the Fund.\u003C/p\u003E\r\n\r\n\r\n","image":{"src":"https://pensions.shell.co.uk/source/socpf/funding-news/socpf-funding/_jcr_content/root/main/section/page_header.shellimg.jpeg/1760482032677/windmill-in-a-field.jpeg","alt":"Windmills for wind power generation","width":3840,"height":2160}},"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/main/section/page_header"},{"organism":"Container","colspan":6,"children":[{"organism":"PromoSimple.Text","color":"inherited","colspan":6,"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/main/section/simple/text_268266377","model":{"text":"\u003Cp\u003ETo help us do this, the Fund Actuary carries out a valuation every three years. This is a detailed financial health check of the Fund. In the years between these valuations, our advisers give us an update on the Fund.\u003C/p\u003E\r\n\u003Cp\u003EThe Actuary compares:\u003C/p\u003E\r\n\u003Cul\u003E\r\n\u003Cli\u003EThe Fund’s assets – the value of the investments held\u003C/li\u003E\r\n\u003Cli\u003EThe Fund’s liabilities – the estimated amount needed to pay all future benefits\u003C/li\u003E\r\n\u003C/ul\u003E\r\n\u003Cp\u003EIf the assets are less than the liabilities, the Trustee and the Company need to agree on how much the Company should contribute to make up the differenc\u003C/p\u003E\r\n\u003Cp\u003EThe chart below shows the funding position as at 31 December 2024 compared with the previous actuarial valuation as at 31 December 2023. At each date, the assets were greater than the liabilities.\u003C/p\u003E\r\n"}},{"organism":"PromoSimple.Text","color":"brand1-solid","colspan":7,"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/main/section/simple/text_1464437911","model":{"text":"\u003Cp\u003ETo help explain some of the technical terms used in this section, we've included a \u003Cb\u003E\u003Ca href=\"https://pensions.shell.co.uk/source/scpf/jargon.html\"\u003Ejargon buster\u003C/a\u003E\u003C/b\u003E.\u003C/p\u003E\r\n"}}],"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/main/section/simple","model":{}},{"organism":"Container","colspan":6,"colstart":7,"children":[{"organism":"PromoSimple.Text","color":"inherited","colspan":7,"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/main/section/simple_copy_copy/text_1239722158","model":{"text":"\u003Ctable cellpadding=\"1\" cellspacing=\"0\" border=\"1\" width=\"200\" height=\"100\"\u003E\r\n\u003Ctbody\u003E\u003Ctr\u003E\u003Cth scope=\"col\"\u003E \u003C/th\u003E\r\n\u003Cth scope=\"col\"\u003E2024 \u003Cbr\u003E\r\nFunding position 31 Dec 2024\u003C/th\u003E\r\n\u003Cth scope=\"col\"\u003E2023\u003Cbr\u003E\r\nValuation 31 Dec 2023\u003C/th\u003E\r\n\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003EAssets\u003C/td\u003E\r\n\u003Ctd\u003E£3,430m\u003C/td\u003E\r\n\u003Ctd\u003E£3,813m\u003C/td\u003E\r\n\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003ELiabilities\u003C/td\u003E\r\n\u003Ctd\u003E£3,250m\u003C/td\u003E\r\n\u003Ctd\u003E£3,652m\u003C/td\u003E\r\n\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003EFunding level\u003C/td\u003E\r\n\u003Ctd\u003E106%\u003C/td\u003E\r\n\u003Ctd\u003E104%\u003C/td\u003E\r\n\u003C/tr\u003E\u003C/tbody\u003E\u003C/table\u003E\r\n"}}],"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/main/section/simple_copy_copy","model":{}}],"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/main/section","model":{}},{"organism":"Container.Section","color":"brand1-subtle","children":[{"organism":"PromoSimple.Text","color":"brand1","colspan":9,"colstart":2,"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/main/section_374118574/text","model":{"title":"Change in funding position  since the last edition","text":"\u003Cp\u003EThe Trustee’s Funding Objective is 100% funding or greater. The summary below shows that the Fund was 106% funded at 31 December 2024.\u003C/p\u003E\r\n\u003Cp\u003ESince the last valuation as at 31 December 2023, the funding level has improved. While the assets in the Fund have gone down over the year, particularly the investments in UK government bonds, the amount that is expected to be needed for future benefit payments (liabilities) has also gone down. The reductions are similar because our investments are aligned with liability matching assets. However, the decrease in asset values is slightly small than the reduction in liabilities, resulting in a modest improvement in the funding level. The Fund continues to benefit from the support of a strong sponsoring employer.\u003C/p\u003E\r\n\u003Ctable cellpadding=\"1\" cellspacing=\"0\" border=\"1\" width=\"200\" height=\"100\"\u003E\r\n\u003Ctbody\u003E\u003Ctr\u003E\u003Ctd\u003E\u003Cb\u003EValuation as at 31 Dec 2023\u003C/b\u003E\u003C/td\u003E\r\n\u003Ctd\u003E\u003Cb\u003EEstimate as at 31 Dec 2024\u003C/b\u003E\u003C/td\u003E\r\n\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003EFunding level 104%\u003C/td\u003E\r\n\u003Ctd\u003EFunding level 106%\u003C/td\u003E\r\n\u003C/tr\u003E\u003C/tbody\u003E\u003C/table\u003E\r\n"}}],"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/main/section_374118574","model":{}},{"organism":"Container.Section","color":"brand1-subtle","children":[{"organism":"PromoCard","color":"brand1","colspan":4,"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/main/section_374582528_co/promo_copy","model":{"title":"Comment from the Fund Actuary","links":[{"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/socpf-funding/_jcr_content/root/main/section_374582528_co/promo_copy.shellimg.jpeg/1760482161850/greg-tucker.jpeg","alt":"Greg Tucker","width":3840,"height":2160}}},{"organism":"PromoCard","color":"brand1","colspan":4,"colstart":5,"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/main/section_374582528_co/promo_copy_copy_731216825","model":{"title":"SOCPF investments","links":[{"value":"https://pensions.shell.co.uk/source/socpf/investments-news/socpf-investment-news.html"}],"image":{"src":"https://pensions.shell.co.uk/source/socpf/funding-news/socpf-funding/_jcr_content/root/main/section_374582528_co/promo_copy_copy_731216825.shellimg.jpeg/1760482189046/scpf-investment.jpeg","alt":"Meadow with wild flowers","width":3840,"height":2160}}},{"organism":"PromoCard","color":"brand1","colspan":4,"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/main/section_374582528_co/promo_copy_112974839","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":"https://pensions.shell.co.uk/source/socpf/funding-news/socpf-funding/_jcr_content/root/main/section_374582528_co/promo_copy_112974839.shellimg.jpeg/1760482175166/ian-robertson.jpeg","alt":"Ian Robertson","width":3840,"height":2160}}}],"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/main/section_374582528_co","model":{"title":"You may also be interested in"}}],"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/main","model":{}},{"organism":"Container.Footer","children":[{"organism":"Breadcrumb.Large","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":"SOCPF Funding","value":"https://pensions.shell.co.uk/source/socpf/funding-news/socpf-funding.html"}]},"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/footer/breadcrumb"},{"organism":"Container.Raw","ref":"https://pensions.shell.co.uk/_jcr_content/root/footer/inherited.model.json","id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/footer/inherited","model":{}}],"id":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding/jcr_content/root/footer","model":{}}],"id":"/conf/shell/settings/wcm/templates/base/structure/jcr_content/root","model":{}}],"model":{"title":"SOCPF Funding","text":"See the latest funding status of SOCPF, assets vs liabilities, funding level, and how the Trustee works to keep the pension scheme fully funded.","links":[{"name":"canonical","value":"https://pensions.shell.co.uk/source/socpf/funding-news/socpf-funding.html"},{"name":"errorUrl","value":"https://pensions.shell.co.uk/error.html"},{"name":"hierarchy","value":"en_gb/source/socpf/funding-news/socpf-funding"},{"name":"homeTitle","value":"Shell Pensions in the UK"},{"name":"homeUrl","value":"https://pensions.shell.co.uk/"},{"name":"locale","value":"en-GB"},{"name":"title","value":"SOCPF Funding | Shell Pensions in the UK"},{"name":"textDirection","value":"ltr"},{"name":"template","value":"base"},{"name":"contentPath","value":"/content/shell/business/pensions/en_gb/source/socpf/funding-news/socpf-funding"},{"name":"externalDisclaimerText","value":"Shell plc Legal Disclaimer\r\nYou are now leaving the Shell global website.\r\nThe link you have selected will direct you to a website that is not controlled by Shell plc or any member of the Shell Group. 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