Shell logo 2023
Here's what 2022 did for your pension

Have a bird's eye view of the year.



Investment results 2022

After two coronavirus-dominated investment years, 2022 was the year of rising energy prices, inflation, a sharp rise in interest rates and the war in Ukraine. How has this affected investment results?


Interview Leon Verboon

“Despite the economic headwinds in 2022, we are in very good shape”

Due to a policy of well-diversified investments and the historic rise in interest rates, SSPF's financial position has improved significantly in 2022. "This despite a highly uncertain economy and investment markets turning red in 2022. This is great news for our participants," according to Leon Verboon, Investment Analyst at Shell Pensioenbureau Nederland (SPN). Verboon commenting on the 2022 investment results.


Double interview Van Iersel – Ten Brink

Despite a poor investment year, pension benefits increase

Those who had hoped for a more peaceful 2022 after two years of Covid were disappointed. The new year was less than two months old when Russia invaded Ukraine. The result: an economic chain reaction. But will this also affect your pension? Initial analysis by SSPF board chairman Martin ten Brink and fellow board member Oscar van Iersel.


Vicky Brouwer-Carew

“With my work, I really feel I am making a difference”

For love, Vicky left her homeland Ireland and came to the Netherlands. Looking for an international job with worldwide scope, she arrived at Shell, where she still enjoys working after 20 years.

Read the story of Henk Brobbel

The most important figures at a glance

Core figures


By the end of 2022, the number of active participants at the SSPF pension fund (people not yet retired and working at Shell) reached 5,453.


At that same time, there were 18,702 pensioners receiving SSPF pensions.


In addition, there are 6,798 former participants. These are ex-employees who no longer accrue pension with SSPF and left the accrued pension with the fund when they left and whose pension has not yet started.


Invested assets were €26.1 billion at the end of last year.


€876 million are paid out in pensions.


In employer and employee contributions, €228 million will come in.


The policy funding ratio is 139%.


Average investment returns over 10 years: + 4.6%.


Stock markets, geopolitical developments and financial markets

Outlook for investment year 2023

Will 2023 be as tough an investment year as 2022 or is there some light at the end of the tunnel for the financial markets?