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 current estimates indicate rates will remain relatively flat next month, meaning November or December will likely be the best month to file for your pension.

As we have discussed over the past few months, the current decline in interest rates may present a unique opportunity for those of you retiring in Q4 of this year; we would like to reiterate that point.  Since BP’s pension uses a four-month “lookback” on interest rates, November and December Benefit Commencement Dates are based on July and August’s interest rates. This means November and December will likely yield relatively similar pension values, but either month should reflect a noticeable increase from September or October’s values depending on whether you are a “Heritage Employee” or not.

Whether interest rates remain low past December remains to be seen, but we should expect interest rates to increase at some point in the not-too-distant future, especially if the Federal Reserve begins winding down its current stimulus measures.

When determining which month to select for retirement, we strongly encourage BP Employees to contact our office for assistance.  Understanding your options and selecting the correct month to take your pension benefits can make a significant difference in the amount you receive. Our team of dedicated BP Employee Retirement Specialists understand the inner workings of your retirement plans and how to make the most of what you have worked hard to earn.

To schedule a complimentary consultation with one of our financial advisors, email us at or call directly at (877)739-6007. This service is free of charge for all BP Employees and Retirees.


Capstone Wealth Advisors

Bellingham, WA


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