SNPS. Smarten up your future
Annual Report 2020 – Shell Nederland Pensioenfonds 
Your pension, your future
Love your future. Shell Pension.

November 2020

Covid-19

Developments and risks resulting from the coronavirus

As a result of the coronavirus pandemic, a number of risks became reality. To manage these risks, the crisis plan was put into operation in March 2020. As it turned out, no interventions were necessary in 2020 and SNPS operated within its adopted policy. 

The impact on the performance of the outsourced activities (APS for pension administration, SPN for management support and AIM for asset management) was also closely monitored. All three outsourcing parties were able to continue activities without significant impact and pension payments were made without delay at all times. This was partly due to thorough Business Continuity Plans being in place and is evidenced by the ISAE3402 reports that the fund received from APS and AIM. There are no signs that this will be any different in 2021, but the situation continues to have the board’s full attention. The crisis procedure was also evaluated in 2020 and was further improved on several points. In 2021, at least part of the year will still be spent working from home.