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Posts under ‘Shell Pension Fund’

Royal Dutch Shell hardline attitude to its employees

By John Donovan

CBC News says that Shell has been reprimanded by Canadian authorities for refusing to allow employees a few hours off to vote in a federal election.

See: Shell reprimanded for federal voting infractions at Fort McMurray mine

This is, however, a relatively minor infraction of employee rights compared with other issues of contention involving Shell and its employees.

One example is when Shell suddenly decides to axe thousands of employees, as a consequence of a “transformation” or some other cost cutting excise brought about solely by the actions of grossly overpaid senior managers. How must supposedly redundant Shell employees feel when invited to reapply for their own jobs?

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Dividends higher than pension deficits at FTSE firms

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By Simon Read: Personal finance reporter: 15 June 2016

Some 35 of the biggest UK firms with pension deficits pay more in dividends than their shortfalls, analysis shows.

Pension firm AJ Bell calculated that 54 FTSE 100 companies had paid out £48bn to shareholders a year in the past two years.

That’s almost equal to the total £52bn recorded deficit of their combined pension schemes in 2014.

“The plights of BHS and Tata Steel have brought this into focus,” said Russ Mould, investment director of AJ Bell.

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How Much Is My Shell Pension Worth?

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Screen Shot 2015-10-28 at 08.03.29October 28, 2015 By Lisa Smith

Shell runs several pension schemes with different features and benefits depending on if you worked for the firm before 2009, still work with the company or have left.

If you belong to the Shell Overseas Contributory Pension Fund and were an employee on or before December 31, 2008 and have a salary of more than £30,000 a year, you are contributing 6%.

Shell pays the ‘balance of cost’ which makes up the difference of the amount you should receive as benefits less your contributions and any investment growth.

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Is Your Pension In Safe Hands With Shell?

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Screen Shot 2015-09-19 at 19.53.08By Lisa Smith: 24 Sept 2015

If you have a pension with oil giant Shell and are worried about what may happen to your retirement savings if you lose your job you need to take specialist financial advice.

Many Shell workers have built up significant retirement savings as high-earners in a well-paying industry.

The company runs the Shell Overseas Contributory Pension Fund – but a key point to remember is the scheme is not an HM Revenue & Customs (HMRC) registered pension.

Unlike the Shell scheme, a Qualifying Recognised Overseas Pension Scheme (QROPS) is a registered pension and operates under a framework of rules administered by HM Revenue & Customs (HMRC). 

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Outspoken articles about Shell

Outspoken articles about Shell

2017

Shell’s litigation in the U.S. courts over misappropriated $1.4bn Nigerian oil: 18 April 2017

Ben van Beurden distracted by a wiretapping incident: 18 April 2017

Neal Katyal, the best justice money can buy: 17 April 2017

The world’s biggest ship originally with a Nazi name, now named Pioneering Spirit: 16 April 2017

Keith Ruddock and the OPL 245 scandal: 16 April 2017

Unsubstantiated allegations against Shell CEO Ben van Beurden: 16 April 2017

Shell’s Nigerian Nightmare Continues: 16 April 2017

Spectacular falling out of ‘Security Professionals’ at the top of Shell: 12 April 2017

How Shell fell out with former FBI Special Agent Crockett Oaks III: 12 April 2017

Can Shell CEO Ben van Beurden Survive OPL 245?: 11 April 2017

OPL 245: Shell admits it knew payments would go to convicted money launderer: 10 April 2017

Key role of Shell Chairman Malcolm Brinded in OPL 245 Scandal: 10 April 2017

OPL 245: I think Shell may be in a spot of bother: 10 April 2017

New leaked emails put Shell at centre of billion dollar bribery scheme…: 10 April 2017

OPL 245 Scandal: Wiretapped phone call between Ben van Beurden and Simon Henry: 9 April 2017

APRIL 2017: TOP U.S. LAW FIRMS BATTLING TO FRUSTRATE ESTHER KIOBEL LITIGATION AGAINST SHELL: 7 April 2017

Shell’s Nigerian Quagmire: 25 March 2017

Benzene exposure risks and the Norwegian Oil and Gas Industry: 23 March 2017

A/S Norske Shell Secret Meeting With Whistleblower : 22 March 2017

Shell’s tacit acknowledgement of a ‘culture of fear’: 20 March 2017

Shell Upstream Director Admits Culture of Fear Among Shell Employees: 20 March 2017

OPL 245: A falling out of thieves: 19 March 2017

Disillusioned Shell Whistleblower Runar Kjoersvik:  17 March 2017

Shell Sinking in OPL 245 Quicksand: 17 March 2017

LEAKED EMAIL FROM SHELL MD TOR ARNESEN ABOUT SHELL SPYING ON ITS OWN EMPLOYEES: 15 March 2017

Web Attack on Whistleblower by Shell Upstream Director: 13 March 2017

Employees Exposed to Benzene Contamination at Shell Nyhamna Gas Plant: 11 March 2017

Shell Multimillionaire CFO Simon Henry Departs Today: 10 March 2017

Shell confirms several countries investigating OPL 245 scandal: 10 March 2017

NEW SHELL MI6 SPY POPS UP IN OPL 245 ARTICLE: 9 March 2017

MI6 Spy Network Inside Shell: 9 March 2017

SHOW TRIAL OF A SHELL NORWAY SAFETY REP: 7 March 2017

Shell Prelude FLNG project relegated to backburner: 6 March 2017

OPL 245 scandal and Shell’s former MI6 spies: 5 March 2017

Informers regime at Shell Nyhamna Gas Plant: 4 March 2017

Kiobel vs Shell discovery doc battle continues in US Courts: 4 March 2017

LEAKED EMAILS SHOW SHELL AND ENI CONSPIRING TO HIDE PAYMENT IN CORRUPT OPL 245 DEAL: 3 March 2017

Financial tremors for Shell/Exxon (NAM) triggered by Dutch earthquakes: 2 March 2017

Shell trying to ignore media firestorm in Norway: 1 March 2017

Shell Nigerian corruption, lunch and lots of iced champagne: 28 Feb 2017

Shell, the oil giant run by unscrupulous hypocrites: 28 Feb 2017

Climate of fear at Shell Nyhamna Gas Plant in Norway: 27 Feb 2017

Dysfunction Crisis and Scandal at Shell Norway: 26 Feb 2017

Oil Resumption in Ogoni: Does Our Society Still Have Any Conscience?: 25 Feb 2017

Fake news naming Shell as an animal testing company?: 23 Feb 2017

Shell’s Role in Irish Police Corruption Scandal: 23 Feb 2017

Simon Henry sells another £1m worth of Shell shares: 17 Feb 2017

Trials and Tribulations of Royal Dutch Shell Plc: 16 Feb 2017

US Legal Battle over 100,000 Shell Internal Docs: 16 Feb 2017

US appeal against order to hand over Shell docs for Dutch case: 14 Feb 2017

Shell Charged With Corruption In OPL 245 Nigerian Oil Deal: 13 Feb 2017

Brexit, Trump, Populism and Royal Dutch Shell Plc: 12 Feb 2017

Which Members of the Royal Dutch Shell Executive Committee Approved the OPL 245 Scam?: 10 Feb 2017

Italian prosecutors seek trial of Shell Foundation Chairman Malcolm Brinded on OPL 245 Corruption Charges: 8 Feb 2017

Royal Dutch Shell CEO: Dividends No Longer No.1 Priority: 8 Feb 2017

€8.5 million Shell slush fund mishandled in Ireland: 5 Feb 2017

Reflecting on the anti-Leigh Day verdict in Shell Nigerian oil spill case: 31 Jan 2017

NIGERIAN AUTHORITIES SEIZE BILLION DOLLAR OIL BLOCK FROM SHELL AND ENI: 27 Jan 2017

Shell Nigerian Litigation: Win in UK. Loss in USA: 26 Jan 2017

A deserved shitstorm of Shell Nigerian litigation: 25 Jan 2017

A poisoned chalice for Shell’s Ceri Powell: 24 Jan 2017

New Boss of Shell Exploration: 23 Jan 2017

Discrepancy in Shell’s Corrib Gas Project financial filings?: 22 Jan 2017

Royal Dutch Shell Plc.com in Chapter 11: 21 Jan 2017

Hakluyt & Company Spying Missions For Shell: 20 Jan 2017

Royal Dutch Shell Motiva Blues: 19 Jan 2017

Royal Dutch Shell Hydrogen News: 18 Jan 2017

Think Twice Before Disclosing An Idea To Shell: 17 Jan 2017

Dramatic Breakup of Shell/Saudi Aramco jv Motiva: 16 Jan 2017

Shell a player in Iranian oil machinations: 16 Jan 2017

Esher Kiobel v Shell article published in Dutch FT: 15 Jan 2015

Resurrection of Kiobel v Royal Dutch Shell litigation: 11 Jan 2017

On 11 Jan 2017 RoyalDutchShellPlc.com will publish Court Orders involving Shell: 11 Jan 2017

Shell Chairman named in $1.3 billion OPL 245 fraud: 7 7 Jan 2017

Financial tremors for Shell and Exxon from Groningen earthquakes: 6 Jan 2017

Royal Dutch Shell hardline attitude to its employees: 5 Jan 2017

Royal Dutch Shell PLC saddled with a mountain of debt: 3 Jan 2017

OPL 245: Shell and Eni executives set to be arraigned: 1 Jan 2017

2016

Dan Etete turns on his accomplices Eni and Shell: 30 Dec 2016

Alarm Bells – Shell Pearl GTL gasifiers crippled?: 28 Dec 2016

Shell’s complicity in human rights abuses in the Niger Delta: 27 Dec 2016

ENI AND SHELL TO BE PROSECUTED OVER OPL 245 $1.1 BILLION CORRUPTION SCANDAL: 24 Dec 2016

A devastating blow for Shell in U.S. Federal Court: 23 Dec 2016

Explosive allegations around Shell and Eni’s OPL 245 deal: 23 Dec 2016

Obama’s April Fool’s Joke Approving Shell Arctic Drilling: 22 Dec 2016

RoyalDutchShellGroup.com for Shell Breaking News:21 Dec 2016

THE OPL 245 SCANDAL INVOLVING SHELL: 21 Dec 2016

Corruption of Police by Shell: 16 Dec 2016

Shell cost-cutting plan will undermine the welfare of its pensioners: 12 Dec 2016

Shell Canada President Michael Crothers says Canada should stick to its values: 29 Nov 2016

Pleased to assist Leigh Day in Suing Shell says John Donovan: 22 Nov 2016

21st Anniversary Commemoration of Ogoni Martyrs: 12 Nov 2016

LIVING IN TRUMPWORLD: 11 Nov 2016

The Uncensored History of the Shell Brent Oil and Gas Field: 9 Nov 2016

Award for deadly Corrib Gas Project: 8 Nov 2016

Irish Police, Shell, Corruption and Alcohol: 7 Nov 2016

No credibility in Shell Peak Oil Forecasts, says John Donovan: 3 Nov 2016

Hearing on Royal Dutch Shell: Committee Room 1, House of Commons Wednesday 2 November 2016: 1 Nov 2016

Lament for Royal Dutch Shell: 14 Oct 2016

CORRUPT IRISH POLICE FORCE: THE GARDA: 10 Oct 2016

Australian Government unconvinced about FLNG safety claims: 28 Sept 2016

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Shell Pensioners Revolt

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By John Donovan

Trouble is brewing for Shell in the UK as Shell pensioners revolt against the proposed change of name of their association. The “Shell Pensioners’ Association” (SPA) is open to all Shell pensioners in the UK and arranges a raft of social and other events through its Branch network. It also publishes a quarterly magazine, “SPA News”.

With the latest edition comes an announcement of a plan to change the name of the Club to “Shell Pecten Association” – the rationale being that younger new Shell pensioners are put off joining the SPA because they don’t wish to be seen as pensioners! No evidence to support this claim is provided.

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Shell investors sue BP for millions over Deepwater share price crash

Screen Shot 2014-01-30 at 00.47.49Extracts from an article by Jim Armitage, Deputy Business Editor of  The Independent, published 4 July 2014

The pension fund of oil giant Shell is suing arch rival BP and its former chief executive Lord John Browne for millions of pounds over the Gulf of Mexico oil spill catastrophe.

Shell Pension Trust is one of more than a dozen giant UK investment funds who have joined a massive lawsuit against BP and its directors at the time including Tony Hayward, who took over from Lord John as CEO three years before the Deepwater Horizon disaster.

The investors are suing over the dramatic crash in BP’s share price caused by the spill and have won the right to sue under UK law but in the generous Texas court. While they had the right to take action in the High Court in London, they have held out to take their claims in the US where higher awards are likely.

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Shell Netherlands on warpath with staff council over pensions

Screen Shot 2013-06-07 at 14.51.52You may want to keep an eye on this latest development in relation to the Shell Dutch Pension Fund. Your website was involved in breaking news about the recovery plan for the pension fund after a financial meltdown a few years ago. Shell Netherlands is on a warpath with the staffcouncil.

RECEIVED FROM A ROYAL DUTCH SHELL SOURCE

Hello John

You may want to keep an eye on this latest development in relation to the Shell Dutch Pension Fund.

Your website was involved in breaking news about the recovery plan for the pension fund after a financial meltdown a few years ago.

Shell Netherlands is on a warpath with the staffcouncil. They want to introduce a new pension system (for new staff) which is much less favorable for the employees.

It will be done. But the Staffcouncil is against. Drama will develop, all in dutch of course. Start is 1st July.

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Shell Covered Up The Fact That They Moved Kulluk For Taxes

 Screen Shot 2013-06-01 at 15.31.58…the two Arctic drilling barges deployed by Shell were plagued with issues. The first was under criminal investigation for failing safety requirements, while the second was the Kulluk

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Rachel Maddow: Shell Covered Up The Fact That They Moved Kulluk For Taxes

Posted:   |  Updated: 05/31/2013 12:45 pm EDT

Rachel Maddow concluded earlier this week that “oil companies lie.”

Although this is not the first time the MSNBC host has criticized an oil giant, recent revelations about Shell’s Arctic drilling led Maddow to reiterate her stance.

In an investigation conducted by the U.S. Coast Guard, a Shell official admitted that the Kulluk, a drilling barge that ran aground on December 31, 2012, was being moved in an effort to avoid a possible $6 million tax.

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Shell Pension Fund – Should You Consider Your Transfer Options?

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Hi John,

This short video may be of interest, specifically to Shell Employees.

http://www.aesadviser.com/services/qrops/

I have personally spoken with guys who have already started to take their Shell pension, and they have been most dismayed to learn about what they could have had, in the way of a cash equivalent transfer (into their own retirement trust) and the massive improvement that such a move heralds in relation to passing their fund to their wife and kids, in addition to the possibility for higher growth between now and retirement and higher levels of income at retirement, than if they were to stay in the Shell scheme.

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Financial Advice for Oil & Gas Pension Holders


John
 
Found this on the web – have no idea if it is for real, but may be of interest to some of your readers?
 
http://www.aesadviser.com/financial-advice-for-oil-gas-pension-holders/

EXTRACT FROM THE WEBSITE IN QUESTION

“I was pleasantly surprised to learn that I was able to transfer my Shell pension into a self invested scheme, with Shell offering a generous transfer value. Now, I feel like I have the best of both worlds. Am still able to grow my fund and will be able to generate an income at retirement but, will now be able to pass my fund of almost £1million on to my family, not back to Shell”

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Ageing and sickly, ex-Shell staff wait on court

FROM OUR SHELL NEWS ARCHIVE OCTOBER 2004

New Straits Times: Ageing and sickly, ex-Shell staff wait on court

“Some have died. Others are losing their memory and many are ailing.”: “399 former employees of Sarawak Shell Bhd and Sabah Shell Petroleum Co Ltd engaged in a protracted legal battle with their ex-employers…” “claiming that they unlawfully deducted money from their internal retirement funds…”: “They won their case at the Miri High Court on Sept 20 but their employers filed an appeal.”: “For now, all they can do is hope their time doesn’t run out.”

By Johannes Ridu & Sharifah Arfah

MIRI, 6 October 2004

Some have died. Others are losing their memory and many are ailing. They are among a group of 399 former employees of Sarawak Shell Bhd and Sabah Shell Petroleum Co Ltd engaged in a protracted legal battle with their ex-employers over an estimated RM50 million they claim is rightfully theirs.

In November 2002 they sued their ex-employers, claiming that they unlawfully deducted money from their internal retirement funds, Shell Sarawak & Sabah Retirement Benefit Fund (RBF) and Shell Sarawak & Sabah Provident Fund (SSF).

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