How does the pension plan work in the US? I’ve been with bp for 9 years and I’m 45 yo. How long do I have to stay to qualify for pension? I want to leave but I don’t want to leave money on the table.
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Are you sure you work for bp? After 9 years working and you don’t know how the pension work at 45 years old. That is pretty disastrous. I don’t think bp would hire such incompetent people
Vesting is usually occurs after three years of service. You can always call the benefit service center and get an official interpretation based on your age / years of service. Also, in addition to pension, there is a Retiree Reimbursement Account (health care) that does vest until age 50.
Click on the "plan information" tab once you log into the retirement account and click on the accumulation plan. From there go to the bottom and click "RAP Summary Plan Description (SPD)" to get some better info from the source.