Daily Telegraph
13 December 2008
By Garry White
PLUNGING equity markets have seen the total assets of Royal Dutch Shell’s Dutch pension fund fall below the level required by Holland’s central bank, De Nederlandsche Bank (DNB).
The Dutch pension fund said that its coverage ratio had fallen to 85pc at the end of November. This followed a 40pc plunge in the value of the scheme’s investments over the course of 2008.
The coverage ratio is the proportion of assets held by the fund compared with its future liabilities. A coverage ratio of 100pc means the fund has sufficient assets to meet all of its future obligations.
The company’s UK pension scheme is not affected. A Shell spokesman said that the company’s contributory pension fund in the UK was managed separately and that it was fully funded.
The UK scheme has benefited from a move away from equities and into bonds – in 2007.
Last month, DNB postponed the deadline for pension funds with a coverage ratio that, because of the global turmoil, had fallen below 105pc to draw up plans on how they were to make up the difference. The funds now have until April 1, 2009, to table a recovery plan.
If Shell’s Dutch pension scheme’s coverage ratio drops below 105pc on a regular basis over a six-month period, Shell will have to make up the shortfall until the ratio again rises above the 105pc level.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
