HSBC has increased the contributions it pays into your Defined Contribution (DC) pension pot.

HSBC will pay 10% of the first £27,300 (pro-rated for part time hours) of your DC pensionable salary (previously £26,400).

The Scheme Earnings Cap will increase to £186,000 (previously £180,000). The Scheme Earnings Cap is the limit on the amount of pensionable earnings which pension contributions can be paid on and on which pension benefits are calculated. These changes are effective from 1 July 2024.

If you have any queries please contact us.