Receiving your benefits

You can take your plan benefit with you when you leave BP — as long as you are vested at the time you leave.

You can request distribution of your benefits by contacting BP Retirement Services at Fidelity via the following methods:

Your benefit may be paid as one of several payment options. If the value of your account is greater than $5,000, you may also choose to leave your plan benefit in the Plan until April 1 of the year following the year you reach age 70½. Your account will continue to earn regular interest credits. When you decide to request payment of your plan benefit, contact BP Retirement Services at Fidelity.

Former BP, Amoco, ARCO, Master Hourly or Castrol heritage employees may be eligible for a grandfather provision. See the applicable heritage plan Appendix for additional details.

After you leave BP, you will receive an accrued benefit statement that includes instructions for requesting a Benefit Commencement Kit. The kit contains the forms for you to request payment of your account. If you do not make an election within 180 days after you receive your kit, you will need to request a new accrued benefit statement and kit by contacting BP Retirement Services at Fidelity.

If you left BP without taking a distribution, you can elect to begin receiving your plan benefit at any time by contacting BP Retirement Services at Fidelity and requesting that the necessary forms be mailed to you.

The election of a benefit commencement date and optional form of benefit payment selected is revocable until such date as determined by the Plan Administrator, but no later than the day prior to the benefit commencement date.

If you terminate employment prior to age 65 but commence your benefit after age 65, your age 65 benefit will be actuarially increased from age 65 to your age at benefit commencement date. This increase will be based on the Applicable Mortality Table and the Applicable Interest Rate(s). See Important terms under Receiving your benefits for additional information.