In July, the Trustee wrote to the Bank to propose that the Bank agree to grant a discretionary pension increase for pensioner members with effect from January 2025.

Under the Scheme Rules, Bank approval is required for an additional discretionary increase to be awarded to members on top of the guaranteed increase that will be applied. The Bank has advised us that following a thorough review and consideration of all relevant factors, including pensioner hardship and the Trustee’s proposal, it will not award an additional increase on 1 January 2025.

If you have a general question about your pension, please get in touch with the HSBC Administration Team at Equiniti and quote your full name, date of birth, full address, and member number or payroll number. This will ensure that Equiniti can respond to your query without delay.

Address: HSBC Administration Team, Equiniti, HSBC Bank (UK) Pension Scheme, PO Box 5227, Lancing, BN99 9FN.
Telephone: 0371 384 2620
Email: HSBCDBPensions@equiniti.com

If you have any further questions about the Bank’s decision relating to additional discretionary increases, please contact HRDirect on +44 3456 024348.