The HSBC Bank (UK) Pension Scheme ("the Scheme")

Make your pension work for you

When you join HSBC, you will become a Defined Contribution (DC) member of the Scheme.

Make your pension work for you

From your first day working with us, HSBC puts money into your DC pension pot, even if you do nothing. If you also contribute to your DC pension pot, HSBC will put in even more.

HSBC gives you 10% of your first £27,300 pensionable salary

then 9% of anything over £27,300 up to the scheme earnings cap, currently £186,000.

Plus HSBC will match anything you pay up to 7% of your pensionable salary up to the scheme earnings cap, currently £186,000.


It's quick and easy to change how much you're 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 £27,300 pensionable salary then 9% of anything over £27,300 up to the scheme earnings cap currently £186,000
£ 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

DC Fund factsheets

The latest quarterly DC Fund factsheets and the latest monthly flash report are now available in the Information Centre.

Investing your DC pension pot

You have a range of options when it comes to investing your DC pension pot. Keeping an eye on these investments can help you hit your desired income at your Target Retirement Age. Once you’ve joined the Scheme, you can see what’s in your DC pension pot and how well your investments are performing. You can even change your investments when you want to.

Announcements

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Member newsletter is now available 

The Trustee has published the member newsletter 2024

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Your retirement savings during the current investment market uncertainties 

Over the last few days and weeks there has been some global investment market uncertainty and we understand that some members may be concerned about the impact on their pension savings.

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Scheme Earnings Cap 2024 

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

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About your DC pension pot