Hi Everyone,
I joined Shell US last year but have to leave Shell early next year due to the recent reorganization. I heard that I will lose my pension because the length of my stay is less than 2 years and 3 months. This is not fair as it’s not me but Shell who wants me to leave. Has anyone sought legal opinions on this and possibly put Shell to court? Thanks and God bless everyone.
13 replies (most recent on top)
It isn't that difficult to figure out. APF can take a lump sum or an annuity. 80pt can only take an annuity. Read your SPD or call Fidelity!!!!
Regarding the payout, I was on the alternative pension fund, not the 80 point. I just called Fidelity and told them I wanted to cash out and I got my payment within a couple months and rolled it into my 401K.
If you’re in the 80 point scheme you might be out of luck, I’m not really sure
Ya-you are sc--wed:
https://www.nortonrosefulbright.com/en-us/news/b2826dca/norton-rose-fulbright-earns-complete-defense-verdict-for-shell
I read that case and it looks like she was suing Shell for 16 MILLION DOLLARS! I don't know about anyone else, but I would be p*ssed off if I was an hourly worker and someone making $16Mln dollars a year was forcing me to go to jury duty to listen to her complain about not getting her bonus!
I am in the severance boat - over 50 + 15yrs of service.
per the US severance plan, one is pension eligible if you have reached age 65, or you satisfy 80-Point Eligibility criteria OR you satisfy 70-Point Eligibility2 criteria (min 20 yrs service + at least age 50).
@1ffg+1vTO5nlO - do let us know how you got a lump sum payout.
Ya-you are sc--wed:
https://www.nortonrosefulbright.com/en-us/news/b2826dca/norton-rose-fulbright-earns-complete-defense-verdict-for-shell
@1ffg+1vTO5nlO. There is typically a 3 year vesting period in the US. If didn't meet that, than may wind up with nothing. After you vest, the money is yours whether you leave or stay.
Laid off with less than two years experience?? I sure hope you came in as an experienced hire, OP.
All graduates that I know were ringfenced in the reorg. Not many graduates to begin with, mind you, but it’s bs you weren’t protected.
Whoever said you get nothing if you leave on your own is 100% wrong. I was under the alternate pension scheme and left about a year ago after 15 years of service and I got a lump sum payout from my pension.
The guidelines are different per country. As a US employee I would have gotten a pay out for my pension as part of my package had I not secured another role.
As mentioned, best to contact HR.
I know. This all su-ks. All the best to you!
they can’t just take your money
have you tried calling HR benefits team for your country
If you are being severed, it is likely that your pension will vest and you will receive a payout. If you are fired for cause, not sure. If you leave on your own, you get nothing. The b-ms will always lose, Lebowski.
read the benefits plan... you'll likely get a (small) lump sum payout if I recall correctly.
Really sorry this is the case for you but tbh, good luck with any sort of successful legal action. It’s probably not worth the trouble. Shell will stick you with hundreds of thousands in legal fees before you get any sort of resolution, and it probably won’t be in your favor.
Shell’s not good at much, but they’re good in court.