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

RAP/Pension InterestRate Chart July 2021

Attn BP Employees, June’s interest rates which impact BP Employees collecting pension benefits in October, declined substantially from last month and were mostly in-line with our forecast. Looking forward, we anticipate rates will continue to drop and strongly suggest that anyone considering retirement or separating from BP in Q4 of 2021 to pay close attention

RAP/Pension InterestRate Chart June 2021

Attn BP Employees, Interest rates affecting BP Employees collecting their pension in September were essentially flat and almost exactly in line with our forecast from last month.  This month’s forecast however indicates there could be a meaningful drop in rates, affecting October benefits commencement dates. The current drop in rates came on the heels of

RAP/Pension InterestRate Chart May 2021

Attn BP Employees, Interest rates affecting BP employees collecting their pensions in August 2021 have flattened out and show a slight decrease from last month’s interest rates. As discussed in our BP pension email last month, the “pause” in rate increases was anticipated and welcomed after seeing several months of substantially higher rates. While the

RAP/Pension InterestRate Chart April 2021

Attn BP Employees, Interest rates for March (impacting July 2021 Benefit Commencement Dates) moved sharply higher for the third consecutive month.  After several months of significant increases in corporate rates, we anticipate the current pace to pause, providing those of you who are retiring later this year the possibility of relief from the massive swings

RAP/Pension InterestRate Chart March 2021

BP Employees, Interest rates for February (impacting June 2021 Benefit Commencement Dates) continued to move sharply higher after already experiencing significant increases over the past several months. Figures released this month show the largest percentage increase we have seen in several years. Next month, we anticipate an even larger move higher when March’s rates are

RAP/Pension InterestRate Chart February 2021

BP Employees, Interest rates for January (impacting May 2021 Benefit Commencement Dates) significantly increased versus December’s figures and were in line with our expectations. In 2020 we experienced historically low interest rates that were put into effect to help combat the economic impact of COVID-19. However, with an end in sight for the pandemic, January

RAP/Pension InterestRate Chart January 2021

BP Employees,   Interest rates for December (impacting April 2021 benefit commencement dates) moved slightly lower versus November’s figures and were mostly in line with our expectations. Although interest rates have remained relatively low over past months, we do not expect to see that trend continuing indefinitely.  Currently, April yields the largest lump sum value

RAP/Pension InterestRate Chart December 2020

BP Employees, Interest rates for November (affecting March 1st benefit commencement dates) were mostly in-line with our projections, showing little change from previous months. The past three months have shown a minimal change in corporate bond rates, while government bond rates have risen substantially. Your pension is highly tied to corporate rates and not government

RAP/Pension InterestRate Chart November 2020

BP EMPLOYEES, Interest rates for October (affecting February benefit commencement dates) rose across the board and finished in line with our forecasts from last month. It also marked the second consecutive month that interest rates have risen from their historically low levels.  Currently we anticipate November’s interest rates to finalize very close to where they