The original version of MPS provided what we refer to as a “2D” statement as it is a static statement that displays the plan balances available at the time of the last data upload. In the current version you will notice a new tab labelled “Benefit Projection (3D)”, where the 3rd dimension is the functionality to estimate what your benefits would be at a future retirement date.

Projecting benefits is complex, especially over longer time horizons, requiring numerous assumptions to be made. We have tried to simplify this for you by pre-populating fields where possible, and setting default values that reflect the prevailing rates and most commonly elected plan options. However, you also have the option to customize the projection to a high degree by amending input assumptions such as retirement age, contribution rates, salary growth, investment returns etc., and also output assumptions (where applicable) such as annuity rates, amount of profit sharing to convert pension, drawdown durations etc.

We have created a user guide to help you to get the most out of the new functionality.

The currency rates used in the benefit statement are provided by Schlumberger on a quarterly basis.

The conversion rates were last updated on 30/09/2024 and are shown below:

Your Schlumberger retirement benefits are comprised of two types of plans that differ according to the way benefits are payable at retirement.

• Annuity-based plans pay periodic benefits in the form of monthly or quarterly annuity payments. The total payments per annum are shown on the benefit statement.
• Cash accumulation plans typically pay benefits in the form of a lump sum cash payment. Alternatively you may use the cash you receive to purchase an annuity, which would provide you with periodic payments over the course of several years or your lifetime. In some cases, the Schlumberger plans require that the balance in your account be converted to an annuity rather than paid as a lump sum. Some of the plans may include provisions for converting the lump sum payment into an annuity prior to distribution; in other cases, you would need to purchase an annuity yourself on the open market.

Normal retirement age is the age at which you can begin receiving an unreduced pension from the plans. Normal retirement age is defined by the rules of each plan and varies among the assignment areas.

The statement will show the benefits available at normal retirement age unless you are already older than the schemes normal retirement age, in this case benefits will be shown assuming they are taken right away.

The pension/savings plans that are covered in this statement scope are:

• Under BACO
  • IS Pension Plan (ISPP)
  • IS Profit Sharing (ISPS)
• Under Zurich International
  • IS Defined Contributions (ISDC)
  • Geomobile Pension Plan (GMPP)
• Under – US Benefits
  • Alight Solutions
    • US Savings & Profit Sharing Plan (US PS)
    • US Abroad Savings & Profit Sharing Plan (USAB PS)
  • US Benefits
    • US Pension Plan (US PP)
    • US Abroad Pension Plan (USAB PP)
• Under Towers Watson
  • UK Orange Scheme
  • UK Blue Scheme
• Under France Government
  • French ARRCO & AGIRC/ PERCO Schemes

If you have benefits with any of the schemes covered by the benefit statement (ISPP, ISDC, GMPP, US Pension Plan or US Savings & Profit Sharing Plan, US Abroad Pension Plan or US Abroad Savings Plan, UK Orange, UK Blue Scheme, and France ARRCO & AGIRC or PERCO Plans) that have not been included in the report, please contact BACO Department at BACOdept@slb.com and a Benefit Advisor will be able to assist you.

The balances are updated on a quarterly or annual basis following the available data under each respective plan. Please note you can view the balance date under the plans complete details.

At Normal Retirement Date you are entitled to receive 100% of your accrued pension benefit.

The “Rule of 85” is a Special Early Retirement feature that can improve your pension benefit if you choose to retire before age 65 provided you have met certain age and service requirements.

If you are age 55 or older and the sum of your age plus your years of service are at least 85 (referred to as “rule of 85”) you are entitled to receive 100% of your accrued benefit prior to attaining age 65. There is no reduction in your benefit when payments start before 65.

Special provisions for Rule of 85 apply to some employees who joined Schlumberger by way of an acquisition. To find out more details on these special provisions, go to iThrive (iThrive.slb.com) and look for “Benefit Details” under “Pension”. Here you will find the Rule of 85 information for acquired companies. Please note that when modeling pension calculations on iThrive the special rules have been built into the calculator and are reflected in your results.

If you have additional questions, you can contact AskHR@slb.com.

For security reasons, this Multi-Pension Statement (MPS) application is accessible via single sign on from within the Schlumberger Network (SINET) only, and it is open to users who are currently employed by Schlumberger.