Global Pensions
NETHERLANDS Royal Dutch Shell plans to inject US$5bn into its pension fund in 2009, chief financial officer Peter Voser told analysts yesterday.
In a presentation about the firms first quarter returns, Voser said the increased contribution amount, up from $1.6bn in 2008, is driven by regulatory and other legal requirements.
Voser said: The sharp decline in the world markets at the end of 2008 has left pension deficits for many companies, and Shell is not immune from that.
The firm estimated a total post-tax charge for its defined benefit pensions in 2009 of $1.3bn, including a $200m inflationary adjustment in the US. The balance of $1.1bn will be allocated across business segments and divided equally across all quarters.
The announcement comes just two weeks after the firm outlined a pension recovery plan to the Dutch pension regulator that sees the scheme cutting its equity allocation and skipping indexation this year.
The petrochemical company said the changes will allow the plan to return to minimum solvency of 105% by October 2011 and full solvency of 127% by 2024.
The scheme plans to reduce its equity weighting to 45% from 55%, boost fixed income to 35% from 30% and increase its allocation to alternative investments to 20% from 15%.
Yesterday, Royal Dutch Shell reported first quarter earnings of $3.3bn, down 57.7% from a year earlier.
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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.
