Cash Balance Account

ConocoPhillips provides a pension plan to assist you in reaching your retirement goals.

Cash Balance Account

Employees hired after Jan. 1, 2003 are automatically enrolled in The ConocoPhillips Cash Balance Account, which is a type of pension plan. The company provides 100% of your benefit and you do not make any contributions. The benefit is yours after three years of vesting service.

Your account value grows every month with two types of credits:

  • Pay credits - 6, 7 or 9% of eligible pay based on age and years of service
  • Interest credits


  • You decide whether to receive your retirement benefit as a lump sum or as a series of monthly payments.
  • Plan distributions may be subject to federal, state and local income taxes. If you aren’t sure how it will affect your taxes, consult a qualified tax advisor before electing your distribution.


  • You can designate beneficiaries on Your Benefits Resources (YBR)