NautaDutilh assists Stichting Shell Pensioenfonds in appointment of BlackRock as Fiduciary Manager

NautaDutilh advised Stichting Shell Pensioenfonds on the appointment of BlackRock as fiduciary manager for the management of EUR 27 billion in pension assets.

On 1 July 2023, the Future Pensions Act (Wtp) officially took effect. This new law is due to radically change pensions in the Netherlands. All Dutch pension funds are required to switch to the new system by 1 January 2028 at the latest. This also applies to Shell Pension Fund Foundation (SSPF), which, by the end of 2023 counted some EUR 27 billion in assets and 30+ thousand participants.

After an extensive orientation, research and selection process, SSPF has decided to appoint BlackRock as its fiduciary manager for asset management. The contract with BlackRock therefore marks an important milestone for SSPF in the preparations for the Future Pensions Act. As strategic partners, SSPF and BlackRock are joining forces to structure the investment portfolio of SSPF in a way that is ready for the future.

“Congratulations to SSPF on this milestone. It has been a great pleasure working with SSPF on this arrangement. It was our pleasure to have supported SSPF in this project as part of the preparations for the Future Pensions Act”

Frans van der Eerden, Financial Law partner

NautaDutilh’s team, which consisted of Frans van der Eerden, Roderick Watson and Marlies van de Meulengraaf, assisted Shell Pension Fund with the entry into of this strategic partnership.

For more detailed information, please refer to SSPF’s official announcement.

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