Shell Pension Fund In Deficit After Equity Market Fall -Co

Dec 12th, 2008
by John Donovan.

12-12-08 6:26 AM EST 

LONDON -(Dow Jones)- Royal Dutch Shell PLC’s (RDSB.LN) pension fund has fallen into deficit after the big drop in global equities markets caused by the financial crisis and economic downturn, a spokesman for the company said Friday.


In 2007, pensions were in surplus with $76 billion of assets versus$62 billion in obligations, the spokesman said. In 2008, equity markets have fallen by 40-60%, bringing down the value of the fund’s assets, he said. 

“We can’t be precise on the status of pensions until the books are closed,” and will update pension holders again in March, he said.

Company Web site: www.shell.com

-By James Herron, Dow Jones Newswires; +44 (0)20 7842 9317; james.herron@ dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today’s most important business and market news, analysis and commentary: http:// www.djnewsplus.com/al?rnd=H3p6tBa69Yk8W%2B7WLYSeeQ%3D%3D. You can use this link on the day this article is published and the following day.

  (END) Dow Jones Newswires
  12-12-080626ET
  Copyright (c) 2008 Dow Jones & Company, Inc.

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.

Posted in: Royal Dutch Shell Plc, Shell.
Tagged:

← →

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.