Shell’s failure to keep its pension promise
Extensive comment by Paddy Briggs on the posting on a website “Shell’s failure to keep its pension promise appears in the public domain Paddy Briggs”
(EXTRACT FROM THE POSTING: “Shell Shocker. Even with gas gushing like never before at the oil majors, Britain’s largest, Shell, is reluctant to share the spoils with those who have made its profits over the years.”
COMMENT BY Paddy Briggs
The senior management of Shell is used to dealing with criticism – enormous profits, high levels of remuneration for top executives and continuing criticism of their environmental record and plans come with the job. But this story on UK Pensions policy in “Private Eye” on 17th March must have come as an unwelcome surprise.
As a Shell Pensioner and former Trustee of the UK Fund I can confirm that the “Eye” story is substantially true. The “Shell Contributory Pension Fund” (SCPF) is the largest of the two Funds referred to and at a valuation in excess of £17.6bn and a funding level of 117% it is one of the UK’s largest and most secure. The Fund, which is closed to new members, has some 36,750 members of whom less than 3,000 are active. Members in receipt of a pension number just under 27,000 and the total pensions paid in the last reported year was some £500 million. This means that the average Shell pension is around £18,700.
Extracts from the ebook “
Bill Campbell, retired HSE GROUP AUDITOR, Shell International, comments on Paddy Briggs damning conclusion about Shell FAT CATS
This has been a pretty abysmal story of failed management, insensitivity to the Pensioner community and obfuscation. I appreciate that you personally do not have the Shell heritage connection that I and most of my 30,000 fellow Shell pensioners have. Some of us, like me, may be critics but that is based on how Shell once was and sadness that in all too many areas it has fallen from grace.
Comment by retired Shell executive *
Postings extracted without his permission from the 
One of the issues surrounding the takeover of BG by Royal Dutch Shell that most commentators have missed is that it will make RDS even more of an “Upstream” company than it is now. The exploration and production of hydrocarbons is ALL that BG does.
RETIRED SHELL EXECUTIVE PADDY BRIGGS SAYS:
Above is a comment by retired Shell executive Paddy Briggs posted on an article published 23 Dec 2015 by The Independent: “
By Paddy Briggs
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