Shell Pensioners Sold Out to BlackRock: Because Who Needs Security When There’s Profit to Be Made?
Posted by John Donovan: 10 Feb 25
Ah, Dutch pensioners, you thought your hard-earned savings were safe? That your lifetime of work would guarantee a comfortable retirement? Well, think again! Thanks to a perfect storm of corporate greed, government meddling, and good old-fashioned financial manoeuvring, Shell’s pension fund has now been handed over to none other than BlackRock, the ultimate Wall Street money machine. What could possibly go wrong?
For decades, Shell’s Dutch pension fund, managed by Shell Asset Management Company (SAMCo), was run efficiently by a small, competent team of professionals—just 80 people handling billions with remarkable skill. But why let success stand in the way of change when there’s an opportunity to funnel pensioners’ money into the pockets of the world’s largest asset manager? read more
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