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Posts Tagged ‘Shell Pension Fund’

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 [...]

Paddy Briggs elected as a Trustee of Shell Contributory Pension Fund

It has come to our attention that former Shell executive Paddy Briggs (above) has been elected to serve the thirty-three thousand Shell pensioners in the UK as a Trustee of the Shell Contributory Pension Fund for four years commencing January 2010. In addition to the elected members, the Board of Trustees has seven Shell appointees, including [...]

Shell to pump $5bn into pension in ’09

Global Pensions by Raquel Pichardo-Allison 30 April 2009 NETHERLANDS– Royal Dutch Shell plans to inject US$5bn into its pension fund in 2009, chief financial officer Peter Voser told analysts yesterday. In a presentation about the firm’s first quarter returns, Voser said the increased contribution amount, up from $1.6bn in 2008, is driven by regulatory and [...]

Shell Pensions 80% Funded, Contributions Raised To Fill Gap

Shell’s contribution to the fund has risen from 5% to 23.6% and the employee contribution has risen from 2% to 8% of salaries, the company said in an update posted on its Web site Saturday. The increased payments should bring the pension’s funding ratio to 105% within three years and 127% by 2023, the company said.

EMAIL FROM JOHN DONOVAN TO MICHIEL BRANDJES, COMPANY SECRETARY & GENERAL COUNSEL, ROYAL DUTCH SHELL PLC: SENT 25 MARCH 2009

Printed below is a draft article. It contains my interpretation of the information contained in email correspondence supplied to me by Shell SA retiree, Mr Ken Purchase. No doubt you will advise if any of the emails are not authentic. If I do not hear from you by close of business on Friday 27 March, I will take it that there is no dispute or challenge over authenticity, stated facts, nor my interpretations or conclusions, and will state as such.

News headlines file for Royal Dutch Shell Pension Problems

Selection of links to news articles about Shell Pension Fund Problems which are undermining confidence in the proper administration of the funds.

Theories of rational behaviour are facing crisis

Second, Shell is to spend an extra $5bn-$6bn on plugging its pension deficit. But Shell is nowhere near insolvent and its pension fund has decades to play with. The deficit figure may be interesting information for investors. Why it should require the diversion of much-needed cash flow right now is a different question.

Shell says faces $8.3 bln pension hole

In December, Shell’s Dutch pension fund told members it had fallen into deficit after share market turmoil knocked 40 percent off its value

Shell Reports $8.3 Billion Pension Deficit, Plans Payments

March 18 (Bloomberg) — Royal Dutch Shell Plc reported an $8.3 billion pension plan deficit for 2008 and expects to make “significant” cash contributions to pensions in addition to the regular annual contribution of between $1 billion and $2 billion.

Pension Funds: Shell investment portfolio declined by 40% in 2008

Shell, heavily invested in equities, saw its investment portfolio decline by 40 per cent in 2008.

Dutch pensions to get more time on solvency-report

Royal Dutch Shell’s (RDSa.L) pension fund also slipped into deficit after its value fell 40 percent, pushing its solvency ratio to 85 percent.

Dutch Shell Pension Fund Scandal: Negligent Administration?

The shock waves have however been such that Clive Mather, Chairman of the trustees of the Shell Contributory Pension Fund, has felt it necessary to send a message of reassurance to Shell UK pensioners. Dutch Shell pensioners will no doubt find it informative to contrast their uncertain situation with that of their UK counterparts.

Madoff fraud costs pension funds €44m so far

Samco, the asset management company of the Shell pension funds, said last week it had a total of $45m (€32.2m) through indirect investments on behalf of the Dutch Shell Pension Fund…

Royal Dutch Shell Pension Fund Machinations

On 12 December news surfaced that the Dutch pension fund of Royal Dutch Shell is heavily in deficit, with a 40% plunge in value as a result of share market turmoil. A $45 million exposure to the “Madoff” fraud was revealed a few days later following speculation surrounding the stability of the fund.

Bernard Madoff ‘fraud’: The list of the casualties including Shell

The Dutch pension fund of Royal Dutch Shell said it has a $45m exposure to the alleged $50bn fraud by prominent Wall Street trader Bernard Madoff.