RAP/Pension InterestRate Chart June 2022

ATTN BP Employees, Interest rates for May, impacting retirees collecting their BP RAP benefits on September 1st, 2022, unsurprisingly raised substantially last month. In a move unseen since 1994, the Federal Reserve has taken an aggressive stance toward inflation by raising the key interest rate by 3/4 of a percentage point. Although investors initially seemed

RAP/Pension InterestRate Chart May 2022

ATTN BP Employees, Interest rates for April, impacting retirees collecting their BP RAP benefits on August 1st, 2022, unsurprisingly raised significantly last month. Fed Chair Jerome Powell and several of the Fed Board of Governors have been talking publicly about the need to continue raising short-term rates throughout the remainder of 2022 in order to

RAP/Pension InterestRate Chart April 2022

ATTN BP Employees, Interest rates for March, impacting retirees collecting their BP RAP benefits on July 1st, 2022, continue to raise rapidly. In an early April speech, Fed Governor Lael Brainard said the central bank needs to act “quickly and aggressively” to drive down inflation. She indicated that upcoming interest rate increases could be higher

RAP/Pension InterestRate Chart March 2022

ATTN BP Employees, Interest rates for February, impacting retirees collecting their BP RAP benefits on June 1st, 2022, saw a rapid increase. The Federal Reserve recently announced that for the first time in three years, it would increase short-term interest rates by a quarter of a percentage point. In addition, the Fed has stated that

RAP/Pension InterestRate Chart January 2022

ATTN BP Employees, Interest rates for December, impacting retirees collecting their BP RAP benefits on April 1st, 2022, saw a modest increase from November’s rates. While this slight increase in rates will cause a slight change in your pension value, we caution BP Retirees that future interest rates in the coming months are likely to

RAP/Pension InterestRate Chart December 2021

ATTN BP Employees, Interest rates for November, impacting retirees collecting their BP RAP benefits on March 1st, 2022, saw both higher and lower rates depending on which of the corporate segment rates we are comparing. The 1st corporate segment rate was noticeably higher, while the 2nd segment rate was essentially unchanged, and 3rd segment rate

RAP/Pension InterestRate Chart November 2021

BP Employees, November’s interest rates, which impact retirees collecting their BP RAP benefits on March 1st, 2022, closely followed our forecast that rates would begin to rise after the new year. While rates did conform to our expectations and were close to our estimates last month, we are adjusting our outlook for the first part

RAP/Pension InterestRate Chart October 2021

BP Employees, September’s interest rates, which impact retirees collecting their BP RAP benefits on January 1st, 2022, were in-line with our projection that rates would remain essentially flat through January 2022. We are however forecasting rates will begin moving higher in the months ahead. Despite current strains on our economy (supply shortages, increased inflation, labor

RAP/Pension InterestRate Chart September 2021

Attn BP Employees, August interest rates, which affect retirees collecting their BP RAP benefits on December 1st show little change from July and indicate the current environment of low interest rates will hold up through the end of the year. We have extensively discussed the possibility of this happening in our pension commentary for the

RAP/Pension InterestRate Chart August 2021

Attn BP Employees, July’s interest rates, impacting BP Employees collecting pension benefits in November, came in almost exactly as we had forecasted. Interest rates maintained their low levels from June forecasting an environment of low rates despite the Federal Reserve hinting at its intention to wind down current stimulus programs in the near future. Our