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 £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'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
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
Your contribution 7%(adjustable)
HSBC matches your contribution 7%(up to 7%)
Total monthly payment into your Pension 24%
HSBC has increased the contributions it pays into your DC pension pot.
About your DC pension pot
If you’ve built up pension savings with a previous employer or in a personal pension, you may be able to transfer them into the Scheme.
The amount of savings you end up with from any transfer-in payment depends partly on how well your investments perform and when you take your DC pension pot.
The Scheme may provide benefits in a different way from your previous scheme; for example, your previous scheme may link benefits directly to your salary. So it’s worth thinking carefully about whether transferring your pension savings into your DC pension pot will make the most of your money.
If you die while you’re working for the HSBC, there are a few ways in which your family and dependents could get financial help. These include:
- Lump sum death benefit
- Spouse/civil partner’s pension
- Dependant’s allowance
- Children’s allowance