Shell offers its employees retirement benefits through a pension plan, savings plan and employee share purchase plan. By using one or more of these plans, employees can prepare for retirement with greater flexibility, notes Shell. The company also protects its employees by offering disability income, survivor income and other protection plans.
The Shell Pension Plan offers 100 percent of accrued savings for employees who work at the company for at least three years. Their Alternate Pension Formula offers a choice of lump sum or monthly payments at retirement, according to Shell. Employees also receive a 15 percent discount on all company shares.
Shell's savings plan allows for pretax and after-tax contributions into an investment account. The company also adds a percentage of the employee's compensation to the account. The savings plan allows pretax contributions up to 50 percent of an employee's salary, per Shell. There is a limit of 25 percent of salary on after-tax contributions.
Employees who suffer an illness or injury while working receive up to one year's worth of salary, states Shell. When an employee passes away, Shell pays his family double the base pay by default. Additional life insurance is also available to employees through Shell, along with discounts on auto, home and property insurance.