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Shell put 2 bln eur into Dutch pension fund in Q2

Reuters

Thu Jul 23, 2009 9:59am EDT

AMSTERDAM, July 23 (Reuters) – Anglo-Dutch oil major Royal Dutch Shell (RDSa.L) (RDSa.AS) units paid an extra 2 billion euros into the company’s Dutch pension fund in the second quarter of 2009, the fund has said on its Web site.

The fund said in a newsletter posted online this week that its funding ratio had increased to 105 percent as of June 30 in part due to these payments.

The payments are part of a package of measures introduced to return the funding ratio — which measures assets against liabilities — to a minimum level of 105 percent within three years, the fund said.

It said Shell will make additional payments on a quarterly basis for a maximum of ten quarters if the funding ratio drops below 105 percent again.

Shell said earlier this year it would need to increase contributions to its pension funds, after turmoil in financial markets decreased the value of their assets.

(Reporting by Catherine Hornby; editing by Karen Foster)

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REUTERS ARTICLE

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