Skip to main content
Home - Shell Nigeria
Menu
  • Home
  • Energy and innovation
    Energy and innovation
    View Energy and innovation
    • Energy and innovation
    • View Energy and innovation
    • Nigeria's Energy Future
    • The energy future
    • Natural gas
    • Deep water
    • Overcoming technology challenges
    • Innovating together
    • Make the future
      Make the future
      View Make the future
      • Energy and innovation
      • Make the future
      • View Make the future
      • Powerofplay
      • How stories can light up lives
      • Five Cleaner Energy Initiatives
      • A cleaner way to cook
      • Pipeline to a better future
      • Powering samba beats with Rio sunshine
      • Could a car’s only emission be water?
      • Lighting up lives with gravity
  • Sustainability
    Sustainability
    View Sustainability
    • Sustainability
    • View Sustainability
    • What sustainability means at Shell
    • Environment
      Environment
      View Environment
      • Sustainability
      • Environment
      • View Environment
      • Remediation Issues in the Niger Delta
      • The UNEP Environmental Assessment of Ogoniland
      • Environmental Impact Assessment Reports
      • Oil Spill Data
    • Communities
      Communities
      View Communities
      • Sustainability
      • Communities
      • View Communities
      • Shell LiveWIRE
      • Scholarships and Education Programmes
      • Youth Skills Development
      • Authentic Voices
    • Safety
      Safety
      View Safety
      • Sustainability
      • Safety
      • View Safety
      • Security in Nigeria
      • Human Rights
    • Reporting
    • Top Stories

      Scholarships Scholarships Scholarships Nigeria Briefing Notes Shell Reports Nigeria Briefing Notes Because we C.A.R.E. Because we C.A.R.E. Because we C.A.R.E.

      Tools

  • About us
    About us
    View About us
    • About us
    • View About us
    • Who we are
    • What we do
      What we do
      View What we do
      • About us
      • What we do
      • View What we do
      • SPDC – The Shell Petroleum Development Company of Nigeria
      • SNEPCo - Shell Nigeria Exploration and Production Company
      • SNG – Shell Nigeria Gas
      • NLNG – Nigeria LNG Limited
      • Shell Energy Nigeria
    • Our values
    • The Shell brand
    • Contact us
      Contact us
      View Contact us
      • About us
      • Contact us
      • View Contact us
      • SPDC Community Feedback Mechanism
    • Reports and publications
    • The History of Shell in Nigeria
    • Shell Pension Fund in Nigeria
    • Powering Progress
      Powering Progress
      View Powering Progress
      • About us
      • Powering Progress
      • View Powering Progress
      • Generating shareholder value
      • Achieving net-zero emissions
      • Powering lives
      • Respecting nature
      • Our core values
    • Top Stories

      SNG – Shell Nigeria Gas What we do SNG – Shell Nigeria Gas

      Tools

  • Careers
    Careers
    View Careers
    • Careers
    • View Careers
    • Experienced Professionals
      Experienced Professionals
      View Experienced Professionals
      • Careers
      • Experienced Professionals
      • View Experienced Professionals
      • Job search for professionals
      • Technical careers
      • Non-technical careers
      • Application process for professionals
      • Manage your application
      • Why choose Shell?
      • Meeting the world’s energy demand requires highly skilled and passionate professionals.
    • Global Operations and Maintenance
    • Students and Graduates
      Students and Graduates
      View Students and Graduates
      • Careers
      • Students and Graduates
      • View Students and Graduates
      • Shell Graduate Programme
      • Assessed Internships
      • Benefits of working at Shell
      • Meet our graduates
      • Tips to apply successfully
      • Meet our interns
      • Degree Matcher
      • 2023 Shell Nigeria Student Industrial Training and Internship Programme
    • Diversity and inclusion
      Diversity and inclusion
      View Diversity and inclusion
      • Careers
      • Diversity and inclusion
      • View Diversity and inclusion
      • Women's perspective
      • People with disabilities
      • Bringing cultures together
    • Shell Talent Community
    • Life at Shell
      Life at Shell
      View Life at Shell
      • Careers
      • Life at Shell
      • View Life at Shell
      • Shell's connected colleagues
    • Recruitment scams
    • Careers FAQs
      Careers FAQs
      View Careers FAQs
      • Careers
      • Careers FAQs
      • View Careers FAQs
      • FAQs - Students & Graduates
      • FAQs - Experienced Professionals
    • Contact us
  • Media
  • Change region/market Nigeria
    Change region/market
    • Change region/market
    • Shell Global
    • Africa
      • Change region/market
      • Africa
      • Algeria
      • Botswana
      • Burkina Faso
      • Cape Verde
      • Egypt
        • Change region/market
        • Africa
        • Egypt
        • English
        • عربى
      • Ghana
      • Guinea
      • Ivory Coast
      • Kenya
      • La Reunion
      • Lesotho
      • Madagascar
      • Mali
      • Mauritania
      • Mauritius
      • Morocco
      • Namibia
      • Nigeria
      • Senegal
      • South Africa
      • Swaziland
      • Tanzania
      • Tunisia
      • Uganda
    • Americas
      • Change region/market
      • Americas
      • Argentina
      • Aruba
      • Bahamas
      • Barbados
      • Bolivia
      • Brazil
      • Canada
        • Change region/market
        • Americas
        • Canada
        • English
        • Français
      • Chile
      • Colombia
      • Costa Rica
      • Dominican Republic
      • Ecuador
      • El Salvador
      • Guatemala
      • Honduras
      • Mexico
      • Nicaragua
      • Panama
      • Paraguay
      • Peru
      • Puerto Rico
        • Change region/market
        • Americas
        • Puerto Rico
        • Español
        • English
      • Suriname
      • Trinidad and Tobago
      • United States
      • Uruguay
      • Venezuela
    • Asia-Pacific
      • Change region/market
      • Asia-Pacific
      • Australia
      • Azerbaijan
      • Brunei
      • China
        • Change region/market
        • Asia-Pacific
        • China
        • 中文
        • English
      • Hong Kong
        • Change region/market
        • Asia-Pacific
        • Hong Kong
        • English
        • 中文
      • India
      • Indonesia
        • Change region/market
        • Asia-Pacific
        • Indonesia
        • Bahasa Indonesia
        • English
      • Japan
        • Change region/market
        • Asia-Pacific
        • Japan
        • 日本語
        • English
      • Kazakhstan
        • Change region/market
        • Asia-Pacific
        • Kazakhstan
        • Қазақша
        • Pусский
      • Laos
      • Macau
        • Change region/market
        • Asia-Pacific
        • Macau
        • English
        • 中文
      • Malaysia
      • Mongolia
      • Myanmar
      • Pakistan
      • Palau
      • Philippines
      • Singapore
      • South Korea
        • Change region/market
        • Asia-Pacific
        • South Korea
        • 한국어
        • English
      • Taiwan
      • Thailand
        • Change region/market
        • Asia-Pacific
        • Thailand
        • ไทย
        • English
      • Turkmenistan
      • Vietnam
    • Europe
      • Change region/market
      • Europe
      • Albania
      • Austria
      • Belgium
        • Change region/market
        • Europe
        • Belgium
        • Nederlands
        • Français
      • Bulgaria
      • Cyprus
      • Czech Republic
      • Denmark
      • Estonia
      • Finland
      • France
      • Germany
      • Gibraltar
      • Greece
        • Change region/market
        • Europe
        • Greece
        • Ελληνικά
        • English
      • Hungary
      • Ireland
      • Italy
      • Kosovo
      • Latvia
      • Lithuania
      • Luxemburg
      • Netherlands
      • Norway
      • Poland
      • Portugal
      • Romania
      • Russia
      • Slovakia
      • Slovenia
      • Spain
      • Sweden
      • Switzerland
        • Change region/market
        • Europe
        • Switzerland
        • Deutsch
        • Français
      • Turkey
      • Ukraine
      • United Kingdom
    • Middle East
      • Change region/market
      • Middle East
      • Iraq
      • Jordan
      • Kuwait
      • Oman
      • Oman Marketing Company
        • Change region/market
        • Middle East
        • Oman Marketing Company
        • English
        • عربى
      • Palestine
      • Qatar
      • Saudi Arabia
        • Change region/market
        • Middle East
        • Saudi Arabia
        • English
        • عربى
      • Syria
      • United Arab Emirates

Your recent searches

  1. Shell Nigeria
  2. About us
  3. Shell Pension Fund in Nigeria

Shell Pension Fund in Nigeria

The Shell Pension Fund in Nigeria is a staff (Non-Contributory) Pension Fund which provides end-of-service pension benefits for Nigerian staff of the sponsor company, The Shell Petroleum Development Company of Nigeria Ltd (SPDC). The Fund provides pension benefits for Nigerian staff of SPDC. It is managed by Shell Nig. Closed Pension Fund Administrator Ltd (SNCPFA).

  • About the Pension Fund

    The Shell Nigeria Staff Pension Fund provides pension benefits for Nigerian staff of The Shell Petroleum Development Company of Nigeria Ltd. (SPDC). It is managed by Shell Nig. Closed Pension Fund Administrator Ltd (SNCPFA).

    The Shell Nigeria staff (Non-Contributory) Pension Fund (the Fund) was created in the early 1960s. It provides end-of-service pension benefits for Nigerian staff of the sponsor company, SPDC.

    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.

    The purpose of end-of-service payments is to ensure that long serving company employees who have reached the end of their established working term in Shell EP Companies in Nigeria will be able to enjoy a regular monthly income to enable them to maintain a reasonable standard of living in retirement. Lump sum payments are made to employees whose period of service or conditions of departure do not qualify them for a monthly pension.

    As the name implies, the scheme is non-contributory thus employees are not required to make any financial contributions. It is also a Defined Benefit (DB) scheme and as such, all benefits payable from the scheme are computed based on pre-defined criteria.

    The Fund currently caters for almost 3,000 pensioners and 4,000+ active employees of SPDC.

  • Pension Fund Trustees and Regulation

    Shell Nig. Closed Pension Fund Administrator Ltd is the Trustee of the Shell Nigeria Staff (Non Contributory) Pension Fund. It is guided in the discharge of its duties by the Trust Deed and Regulations for the Fund executed by the sponsor company, The Shell Petroleum Development Company of Nigeria Ltd. (SPDC).

    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

  • Investment Philosophy

    Conservative Investment Philosophy - The ‘blue-chip’ investment portfolio

    Shell Nig. Closed Pension Fund Administrator Ltd (SNCPFA) manages a diversified investment portfolio that consists of fixed income securities, listed equities and real estate.

    The security of assets is maintained by a prudent and stringent investment strategy, which is set out  in SNCPFA’ s Statement of Investment Principles (SIP) developed in collaboration with Shell Group Pensions and approved by the National Pension Commission (PenCom).

    The statement emphasizes safety of assets and ensures that alignment between asset and liability profiles is balanced with the pursuit of investment returns. Consequently, SNCPFA only invests in the highest grade assets, conservative money market placements and other adequately researched investment opportunities that, as much as possible, match its liability profile.

    Prior to the enactment of the Pension Reform Act, all investments were made in line with regulations such as the Trustee Investments Act 1957.

    In addition, the filing of annual returns with the Joint Tax Board (JTB) up till December 31, 2004 ensured that the Fund continued to enjoy  the tax exemption associated with being an ‘approved scheme’ as recognized by the JTB from 1996 till 2004.

    By virtue of the PRA, effective January 2005, (the date of the commencement of transitional arrangements for the private sector under the PRA), SNCPFA is no longer required to make annual returns to the JTB.

    SNCPFA has never received a qualified audit report in any of its years of existence.

    The pension fund assets are segregated from the assets of the SPDC, and all transactions between both parties are carried out at arm’s length.

    In compliance with the PRA, SNCPFA continues to render monthly returns to its regulator and to date has not received any sanctions or been reprimanded on any of its investment decisions.

  • Contact Us

    We are here to answer your queries. Simply contact our team using the details below.

    Company Registered Adrress

    21/22 Marina,
    Lagos

    Office Building Address

    Bank of Industry Building,
    23, Marina,
    Lagos

    Company e-mail

    SNCPFA-feedback@shell.com

    Telephone

     +234 (0) 1 2769999

    Fax

    +234 (0) 2762023

    +234 (0) 2768787

Show all questions
  1. Shell Nigeria
  2. About us
  3. Shell Pension Fund in Nigeria

More in About us

  • Who we are
  • What we do
  • Our values
  • The Shell brand
  • Contact us
  • Reports and publications
  • The History of Shell in Nigeria
  • Shell Pension Fund in Nigeria
  • Powering Progress

More about Shell

  • Careers

Can we help?

  • Contact us

Connect with us

  • Instagram
  • YouTube
  • Facebook
  • Twitter
  • LinkedIn
  • Accessibility
  • Terms and conditions
  • Privacy notices
  • Modify cookie preferences