The HSBC Bank (UK) Pension Scheme

Adjust your contributions

More rewarding contributions

HSBC puts money into your DC pension pot every month. If you also contribute then HSBC will put in even more. It's quick and easy to change how much you're contributing and you can change your contribution once a month.

HSBC gives you 10% of your first £26,400 pensionable salary

then 9% of anything over £26,400 up to the scheme earnings cap, currently £180,000.

Plus HSBC will match anything you pay up to 7% of your pensionable salary up to the scheme earnings cap, currently £180,000

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


HSBC contributes 10% 10% of your first £26,400 pensionable salary then 9% of anything over £26,400 up to the scheme earnings cap currently £180,000
£ 0.00
Your contribution 7%
£ 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 help ensure you’re on track for your desired income at your Target Retirement Age. You can change your contributions once a month, for free, through My Choice.

If you have lost track of any of your pensions, take a look at the Pay Your Pension Some Attention campaign to find out more.

Adjust your contributions

If you're not on the HSBC network you can click here to access My Benefits. You'll need your username and password to log in. Once logged in click on the My Choice tab to adjust your pension contributions.

More Information

Default investment strategy 

The Trustee has made available a range of investment funds for members. Each member is responsible for specifying one or more funds for the investment of their account, having regard to their attitude to the risks involved. If a member does not choose an investment option, their account will be invested into the default option applicable to them, which is managed as a “lifecycle” strategy (ie it automatically combines investments in proportions that vary according to the time to retirement age). The lifecycles are 100% invested in equities until twenty years from a member’s target retirement age from which point they transition gradually into less risky assets appropriate to the outcome targeted.

Value for money for members 

The Trustee carried out a value for members’ assessment, looking back over the Scheme year to 31 December 2019. The Trustee is required to assess the extent to which member borne charges and transaction costs for the Scheme Year represent good value for members.

Illustration of charges and disclosures costs 

The Sponsoring employer currently pays the AMC platform expenses and administration costs. Additional expenses (“AE”) are covered by members and are those costs incurred in the management of the underlying funds which are, by nature, flexible and therefore fall outside of the AMC. The Trustee has provided an illustration of the impact of the charges and costs on members pension pots for the default options and four funds from the Freechoice range.