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Posts under ‘Shell Pension Fund’

Union fury as Shell closes pension scheme despite making £18bn profit

Fuel giant Shell has been accused of “moral bankruptcy” for announcing profits of £18billion – just a month after closing its final salary pension scheme for new recruits. Fuel giant Shell has been accused of “moral bankruptcy” for announcing profits of £18billion – just a month after closing its final salary pension scheme for new [...]

Pensions anger as even profitable firms cut benefits

Phillip Inman The Observer, Sunday 22 January 2012 When even successful companies such as Shell and Unilever are taking an axe to staff retirement packages, is the outlook bleak for everyone? Unilever, the maker of everything from Pot Noodles to Dove soap, has infuriated its staff by cutting pension payouts – despite being highly profitable. [...]

Shell ends the ‘final salary era’

The news… was quietly posted on the Shell pensioners’ website just before Christmas… Shell has ended an era for company pensions with the decision to close its final salary scheme to new joiners. The oil giant was the last FTSE 100 member with a scheme open to everyone. From 2013, new employees will instead be [...]

Shell axes final salary pension schemes

By STEVE HAWKES, Business Editor: 6 January 2012 SHELL is to scrap final salary pensions from 2013 — despite making billions in profits. The oil giant will close its scheme to new recruits in two years. All existing staff will be kept on final salary benefits — for now. The move means that every UK [...]

Shell closes its final-salary pension scheme

5 January 2012 Last updated at 17:18 Anglo-Dutch oil giant Royal Dutch Shell is to close its final-salary pension scheme to new employees in the UK. From early 2013, new staff at Shell will be offered membership of a scheme without a guaranteed level of pension. Existing members of the Shell scheme can continue contributing [...]

Shell Pension Fund Joins Appeal of ‘Feeder Fund’ Ruling by Madoff Judge

By Linda Sandler – Oct 10, 2011 8:30 PM GMT+0100 Shell Pension Fund, which runs pension plans for Royal Dutch Shell Plc (RDSA) companies, joined an appeal of a court ruling in the Bernard Madoff case that denied customer status to so-called feeder fund investors. U.S. Bankruptcy Judge Burton Lifland backed the liquidator of the [...]

FINANCIAL TIMES ARTICLES CITING THE WEBSITE: Royaldutchshellplc.com

FINANCIAL TIMES ARTICLES CITING THE WEBSITE: Royaldutchshellplc.com ENERGYSOURCE BLOG December 3, 2009 Spot news …French companies dismiss claims of political fix (FT) Shell critic says oil major targeting his website Royaldutchshellplc.com operator cites released emails (Reuters) Nigerians urge Yar’Adua to step down Warnings of power vacuum… Kate Mackenzie ENERGY SOURCE BLOG February 12, 2010 Shell’s [...]

Royal Dutch Shell Malaysian pension fund controversy

If you haven’t seen the attached, it may interest you to know that the attached is a copy of Sarawak Shell Berhad/Sabah Shell Petroleum Company’s internal management exchange which was leaked by one of the employees who is disgusted with Shell. You may take note that Shell cheats on paying the Retirement Benefit Fund resulting in the class action at Miri High Court by ex and current staff of Sarawak Shell Berhad/Sabah Shell Petroleum Company.

Time to take the tough decisions on oil and gas

The Irish Times – Tuesday, January 4, 2011 FINTAN O’TOOLE WE’VE just been through a year when the unthinkable became normal. The problem is that all the unthinkables have been bad: the nationalisation of the banks and their debts, the arrival of the IMF and so on. Is it not time to consider another unthinkable [...]

Pension deficits threaten 1 in 10 FTSE firms

“The biggest deficit contribution was made by oil group Royal Dutch Shell, which handed £2.7bn to its pension scheme.”

Shell’s Pension Fund Shies Away from Active Management

THE WALL STREET JOURNAL By MARK COBLEY and PHIL CRAIG The £10.5 billion ($14.3 billion) pension fund for Royal Dutch Shell PLC has become the latest big investor retreat from active fund management, in a further blow to managers already suffering from reduced market values and a poor economic outlook. In documents posted on the [...]

Shell pension fund manager takes 20% of hybrid power firm

Shell Asset Management Co., the manager of Royal Dutch Shell PLC’s various pension funds, has taken its stake in hybrid electric power company Enova Systems to almost 20% following a $10 million capital raising exercise.

Pension deficits return to haunt blue-chips

A study by consultants Lane Clark & Peacock found a massive turnaround in corporate pension accounts. Royal Dutch Shell’s scheme saw a surplus of £6.8 billion turned into a deficit of £5.6 billion.

Shell critic says oil major targeting his website

Wed Dec 2, 2009 3:04pm GMT By Tom Bergin LONDON, Dec 2 (Reuters) – A prominent Internet critic of Royal Dutch Shell (RDSa.L) says the oil major has asked an anti-cyber fraud agency to target his site, which Shell admits provides better information on the group than its own internal communications. John Donovan, who runs [...]

Around $5 billion to be injected into Shell Pension Fund hit by slump

LONDON (Dow Jones)–Royal Dutch Shell PLC (RDSB.LN) will only have to top up its pension fund by around $5 billion, compared with previous expectations of $6-8 billion, because of the recovery in global equity markets, said Chief Financial Officer Simon Henry Thursday.