Departing chief’s £18m pension pot

Jeroen van der Veer is heading for a belated retirement with a bumper year's earnings of £8.2 million and one of biggest pension pots — more than £18 million — in European corporate history.

The Shell chief executive, who is 62 years-old and a lifer at the oil major, will leave the company in the summer with an annual pension of £1 million after his company retirement scheme was topped up with payments of £1.2 million last year.

That was in addition to an 8.5% basic pay rise to £1.5 million, an annual bonus of £3 million and long-term bonuses totalling £2.5 million.

Van der Veer is being replaced by his finance director Peter Voser who, at £3.3 million, earned less than half the pay of his boss.