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).
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.
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:
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