The legal retirement age is 62, unless you have been employed in a job classified as active (police officers, firefighters, air traffic controllers, midwives, etc.) If you build up a large amount of pension savings over your lifetime, you may reach what is known as the Lifetime Allowance (LTA). For members of the HSBC Bank (UK) Pension Scheme with a DC pension pot. You will then be eligible for early retirement from the age of 57, or even earlier for certain categories of employment. The overall limit each year is called the Annual Allowance. é3a-##me2ë&ŞÓH�ÄRõ¹;¸Âm¥ØAZlÆIÈÂÃV1)Ù‘@™ÆìTEÃìD„°¥]÷H½�bæFyêzM¦q`;ı‘ğ,‡‰ö™N¥Œ¿;ø'À cjka endstream endobj 80 0 obj <>stream In many of the cases we have investigated, the advice given to people to move their Pension to HSBC has been proven to be poor financial advice, this has resulted in millions of pounds being paid back to clients in the form of compensation. qÔ-i¯“�†ì:™C3Ha¿ÙbB& 10% of your first £22,100 pensionable salary then 9% of anything over £22,100 up to the scheme earnings cap currently £150,000, Member-Nominated Trustee Director Selection, Important update for members about the Property-active Fund. 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. In some cases, and under certain conditions, it is possible to buy back quarters to complete your career and validate periods for which you have not contributed. Make fund transfer and investment election changes; Pension. This will give you all the information you need to progress your transfer. "The UK is experiencing the greatest level of pension de-risking activity in history and we are proud to support this growing market with our capital, our capacity and our experience in helping pension schemes enhance retirement security for their members. If you die as a deferred member of the Scheme (after leaving HSBC but before you’ve retired), the total value of your DC pension pot (including the value of HSBC’s contributions) will be paid as a lump sum at the Trustee’s discretion. Remember to update your personal details if you’re getting divorced or dissolving your civil partnership. These include: For more information about protection benefits, visit our 'Choose your beneficiaries' page. Upon the death of your spouse, you are entitled to the reversion of their basic pension as well as their supplementary pension.
The legal retirement age is 62, unless you have been employed in a job classified as active (police officers, firefighters, air traffic controllers, midwives, etc.)
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