Significant progress made
ANALYSIS
In 2024, SSPF made intensive preparations to enabling the moving towards the new pension scheme, which is aimed to take effect by 1 January 2027. Clear communication, improved data quality and being compliant with the Digital Operational Resilience Act (DORA) are key focus areas.
In 2024, SSPF took important steps to prepare for the implementation of the new pension scheme according to the Dutch Future Pensions Act (Wtp). All parties involved — from the board, Accountability Body (VO), Supervisory Board (RvT), and SPN, to the employer, Central Works Council (COR), Voeks (the association of former Shell employees), and our outsourcing partners — have worked hard to support the progress of this transition process.
Accessible information and guidance
In 2024, SSPF placed strong emphasis on clear and engaging communication about the new pension scheme. This included the development of the CARE programme. CARE stands for Comfort and Retirement Ease. Through this programme and other initiatives, we will guide participants step by step towards their new pension over the coming years.
Representing all generations’ interests
In July, Shell Netherlands and the Central Works Council (COR) published the transition plan for SSPF. This plan outlines all decisions, considerations and calculations forming the basis for the move to the new scheme and to ensure compliance with Wtp requirements. Before this step, the SSPF board held extensive discussions with Shell Netherlands and the COR. Simultaneously, the Voeks Hearing Rights Committee (representing former Shell employees) shared its views with both parties. It was then the board’s responsibility to assess the transition plan using the three legal criteria: feasibility, balance, and explainability. Careful preparation and consideration of the interests of all generations played a central role. Another important part of the Wtp transition is the system change at APS. An IT programme is underway within APS to ensure that a new IT platform (AllVida) is delivered to implement the Wtp pension scheme.
“When SSPF’s assets are eventually allocated to individual participants, this must be done in a correct and verifiable manner”
Data in order
Over the past year, a great deal of time and effort has been spent analysing the data and assessing its quality. When SSPF’s assets are eventually allocated to individual participants, this must be done in a correct and verifiable way. That is only possible if the data is of high quality. The good news: the data quality is now in good shape. An external party has reviewed it and confirmed it meets the standards. The next step is to make sure that quality is maintained.
DORA: digital resilience well underway
SSPF is also well prepared for the EU’s Digital Operational Resilience Act (DORA), which aims to strengthen the digital defences of financial institutions. Both SSPF and its ICT service providers now comply with DORA’s requirements, helping to effectively mitigate risks such as cyberattacks.
A solid foundation
According to Kenan Yildirim, General Manager of Shell Pensioenbureau Nederland, 2024 was a pivotal year: “Our efforts in communication, data quality, and digital security have laid a solid foundation for the future. They help ensure a smooth transition and full transparency for all our participants.”
In 2025, SSPF will continue along this path, working toward efficient implementation of the new scheme—offering clarity and security for everyone involved.