The HSBC Bank (UK) Pension Scheme

Adjust your contributions

Make your pension work for you

From your first day working with us, HSBC puts money into your DC pension pot. If you also contribute to your DC pension pot, HSBC will put in even more. It's quick and easy to change how much you're contributing and you can change your contributions once a month.

HSBC gives you 10% of your first £21,200 pensionable salary

then 9% of anything over £21,200 up to the scheme earnings cap, currently £144,000.

Plus HSBC will match anything you pay up to 7% of your pensionable salary up to the scheme earnings cap, currently £144,000.

It is quick and easy to change how much you are contributing and you can change your contributions once a month.

HSBC pays most of the fees

HSBC pays the administration and investment management fees for the investment options currently available. However depending on the fund, there may be other investment costs which will be reflected in the price of the fund. These costs are variable and likely to be between nil and 0.2% pa.

See what you get per month

£

This modeller has been included for illustrative purposes only and should not be relied on.  In particular for members who work part time or who are on family leave or any other period of absence, the contributions payable may differ.  When considering the level of contributions to make to the Scheme it is important to consider (i) what you can afford to pay at any particular time bearing in mind other financial obligations you may have eg mortgage payments and (ii) what your retirement objectives are to help ensure you will have saved enough in your pension pot to meet those objectives.  These factors may change in the future so we recommend you regularly review the contributions you are making and the impact any change in contributions levels could make.  For high earners, consideration should also be given to whether any change in contribution rates impacts on your annual allowance, money purchase annual allowance or lifetime allowance.  We would recommend you seek independent financial advice if you are unsure what levels of contributions to make to the Scheme and the impact this may have

7%

HSBC contributes 10% 10% of your first £21,200 pensionable salary then 9% of anything over £21,200 up to the scheme earnings cap, currently £144,000
£ 0.00
Your contribution 7%
(adjustable)
£ 0.00
HSBC matches your contribution 7%
(up to 7%)
£ 0.00
Total monthly payment into your Pension 24%
£ 0.00

Are you saving enough? Can you afford to save more?

Review and change how much you’re contributing to make help ensure you’re on track for your desired income at your Target Retirement Age. You can change your contributions once a month, through My Choice.

Adjust your contributions

If you're not on the HSBC network you can click here to access My Choice. You'll need your username and password to log in.

More things to consider

Manage your investments 

Make sure your DC pension pot is aligned with your retirement plans

Choose your beneficiaries 

Take care of your loved ones when you’re gone

Set your Target Retirement Age 

Alter your planned age of retirement as circumstances change