BP Employees: 

Interest rates for December, affecting retirees collecting their BP RAP (Retirement Accumulation Plan) benefits on April 1st, 2023, moved closely in line with our estimates. As predicted, we expected and saw Corporate Segment Rates decline due to the Federal Reserve Bank slowing down the pace of rate increases. As we indicated previously, this could be a welcome relief for your BP RAP, which has seen rapid interest rate increases over the past year.

The December inflation report had some encouraging news. It showed that consumer prices trended lower for the month and confirmed that overall prices have been trending lower for the past six months. Now the ball is in the Fed’s court to determine how much further they need to go with rate hikes to slow the economy and tame inflation. After the inflation report was released, traders quickly adjusted their outlook for what the Fed will do next. Short-term rates reaching a high of between 4.75% and 5% in 2023. Late last year, some feared that the “terminal” rate would be over 5%. Today, rates are between 4.25% and 4.5%

If you are considering retiring this year or next, we cannot stress enough the importance of getting professional advice during this highly volatile time. Financial markets may continue their downward trend well into 2023. Choosing the wrong month to collect your retiree benefits could cost you tens of thousands of dollars. Our team at Capstone Wealth Advisors specializes in knowing the inner workings of your BP Retirement Plans and how to help you make the decision that best suits your individual situation.  

If you would like to learn more about how your pension is impacted by interest rates or if you are concerned at the overall situation of financial markets today and would like advice about how we believe you should navigate it, please do not hesitate to contact one of our experienced financial advisors who specialize in knowing the inner working of your BP RAP plan. This service is free of charge for all BP Employees and Retirees.  

To schedule a complimentary consultation with our team email info@capstonewealthadvisors.com or call us directly at (877)739-6007. 


Capstone Wealth Advisors

Bellingham, WA


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