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The Trustee

Shell Nig. Closed Pension Fund Administrator Ltd (SNCPFA) was incorporated in 1991 as Shell Trustees (Nigeria) Limited (STNL) for the primary purpose of managing the “Shell Nigeria Staff (Non-Contributory) Pension Fund”, the defined benefit pension scheme of SPDC.


SNCPFA’s Mission

  • To optimise Investment Returns—by minimising the contribution level required to maintain the 100% funding target level for SPDC’s Defined Benefit Scheme.

  • To safeguard the Pension Fund Assets—by making sound investment decisions, using the right Pension Fund Custodian and ensuring strict compliance with the Pension Reform Act of 2004, and other applicable laws and Shell Group policies.

  • To offer our members first class retirement benefit administration services—by dealing professionally and efficiently with all members and stakeholders through qualified staff who are empowered to contribute towards the continuous improvement of SNCPFA’s suite of services.


SNCPFA’s primary objectives are:

  • To reduce the long-term cost of the Fund to SPDC through efficient management of the Fund. This is achieved by developing an asset structure that closely matches the Fund’s liability profile and, within this structure, maximizing investment returns thereby minimising the amount of contribution required to maintain the funding level at 100%.
  • To efficiently administer issues relating to SPDC’s pensioners in accordance with the Fund’s Trust Deed & Regulations.

The National Pension Commission

The Pension Reform Act 2004 established the National Pension Commission (PenCom) as the body to regulate, supervise and ensure the effective administration of pension matters in Nigeria.


Under the provisions of the Pension Reform Act 2004 the National Pension Commission is empowered to license and regulate the activities of all Pension Fund Administrators in Nigeria.