YOUR GUIDE TO MY CHOICE - HSBC careers site

performanCe
through
people
Your
guide to
mY ChoiCe

WelCome to mY ChoiCe
HSBC HaS a flexiBle BenefitS SCHeMe fOR UK eMPlOYeeS Called MY CHOiCe.
Our employees told us that providing a benefits package that can be tailored to suit
particular needs – whether its choosing childcare, or health cover, or donating to charity
– was important. HSBC’s My Choice is another important building block in creating the
Best Place to Work.
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HOW dOeS MY CHOICe WORK?
HOW dOeS MY CHOICe WORK?
My Choice allows you to create a benefits package that
is best suited to you and your lifestyle. It gives you the
flexibility to take more of the things you value in your
benefits package. For some of the benefits, you can also
take less and use the cash along with your salary to buy
new benefits at competitive rates.
there is a wide range of benefits on offer to you and,
in some cases, your partner or other family members.
the benefits fall into three categories:
FInanCe & PROteCtIOn HealtH
leISuRe & lIFeStYle
Critical Illness Cover – for Me
Critical Illness Cover – for My Partner
Group Income Protection
Life Assurance – for Me
Life Assurance – for My Partner
Personal Accident Cover – for Me
Personal Accident Cover – for My Partner
Retirement Savings – DC members
Dental Cover
Health Assessment – for Me
Health Assessment – for My Partner
Healthcare Plan
Car Breakdown Cover
Carbon Offsetting
Charity Donations – Contributions to
Specified Charities
Charity Donations – Keep the Change
Childcare
Cycle2Work
Fitness Club
Retail Vouchers

all HSBC employees are entitled to a package of benefits
paid for by the HSBC Group. Your package will depend
on your grade and other factors. the total value of your
current benefits package makes up what we refer to as
your ‘benefit fund’.
YOuR BeneFIt Fund
You will be provided with a benefit fund for My Choice to
use when you make your choices during the enrolment
period. the benefit fund reflects the cost to HSBC of your
company-provided benefits. the value of your benefit
fund may go up or down depending on your benefit
selections. For example, if you choose to make matching
contributions to the defined Contribution Section (dCS)
of the HSBC Bank (uK) Pension Scheme, your benefit
fund will be increased to reflect the value of the matching
HSBC Group contributions.
Your benefit fund is made up from a combination of the
following benefits, depending on your eligibility:
• Retirement Savings (pension): for defined
contribution/GPP members, this is the employer
contribution to the scheme for you, from
1 July 2009, and will increase or decrease depending
on whether or not you take advantage of the employer
matching member contributions.
• Life Assurance − for Me: this is the current cost to the
HSBC Group of providing your benefit, which for most
employees is 4 x pensionable salary.
• Partner and Dependants’ Benefit: this is an
illustrative cost to the HSBC Group of providing your
benefit. the actual benefit provided varies depending
on your pension scheme membership.
• Group Income Protection: this is the cost to the
HSBC Group of providing this benefit, which varies
depending on your business area and pension scheme
membership.
• Health Assessment − for Me: for eligible employees,
this is the cost to the HSBC Group of providing your
benefit each year. For employees who are eligible for a
health assessment every two years, the value shown
will be the full cost of the assessment in the year
that you are eligible. If you are not eligible for a health
assessment in a particular year (for example if you took
an assessment the previous year) the value shown will
be zero.
the monthly cost shown will be the cost of a health
assessment over 12 months.
HOW dOeS MY CHOICe WORK?
• Healthcare: for eligible employees, this is the cost
to the HSBC Group of providing your benefit in the
My Choice year. the value in the benefit fund will
increase or decrease depending on whether you select
healthcare for yourself, your partner or your children
and family.
• Car: for eligible employees, this is your car allowance
and will vary by grade and business unit.
• first direct plus: this is only for first direct employees
and will vary by grade.
Please see appendix for examples of typical benefit funds.
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HOW dOeS MY CHOICe WORK?
HOW dO YOu uSe YOuR
BeneFIt Fund?
You have the opportunity to ‘flex’ your benefit fund.
You can do this by making changes to the value of your
benefits package or by choosing to spend some of your
salary on new benefits. Within limits, you can even take
some of your benefit fund as cash in addition to your
regular salary.
this flexibility means you can now increase, decrease
or opt out of some benefits (subject to limits) and/or select
other benefits to best suit your current lifestyle or future
plans. as mentioned earlier, some benefits, like matching
dCS contributions or adding a partner or children to
family healthcare for example, may also increase your
benefit fund.
WHat IS SalaRY SaCRIFICe?
My Choice uses a method called salary sacrifice. Rather
than making monthly contributions from your salary to
purchase your chosen benefits, your monthly contractual
pay will be reduced by the value of the benefits you
have selected.
Salary sacrifice allows you to take advantage of the
potential Income tax and national Insurance Contribution
savings on certain benefits. For more information see the
‘What can you choose?’ section on the next page.
the introduction of salary sacrifice will change your
contract of employment, but you will not have to sign
a new contract. If you opt to take one of the flexible
benefits offered through My Choice you will automatically
agree to this change and HSBC will make the appropriate
reductions in your contractual salary through the
Payroll System.
HOW dO YOu SeleCt YOuR
BeneFIt CHOICeS?
You can make your initial choices using the My Reward
website.
In exceptional circumstances, if you are unable to access
the website, you can also make your choices over the
phone by calling My Reward Centre on 0845 603 3133.
lines are open from 9am > 5pm, Monday to Friday. When
calling, you will need to supply your name, employee Id
and answer two security questions. Before being able to
make your choices over the phone, My Reward Centre
will send you the full set of terms and conditions. You will
need to read these before ringing back to make
your choices.
WHat IF YOu CHanGe
YOuR MInd?
You will not be able to change your initial My Choice
benefit selections until the next annual enrolment
period, typically in november each year. However, if you
experience a qualifying ‘life event’ (see page 26), you
may change certain benefits. In addition, please note that
you may change your pension choice at any time (subject
to the restrictions set out in the online Benefits Guide,
the normal scheme cut-off dates and the Company’s
discretion).
WHat HaPPenS IF YOu
dO nOt REGISTER YOUR BeneFIt
CHOICeS?
upon joining, you have a minimum of 30 days to register
your initial benefit choices. Once you join, you will receive a
My Reward enrolment letter which will contain your initial
election deadline date, along with the date as to when your
benefit selections will become effective from.
If you do not make any benefit selections by the deadline
date quoted in your My Reward enrolment letter, you will
receive the default benefits appropriate to you and your
grade. You will only be able to change these benefits at the
next My Choice annual enrolment or if you experience a
qualifying ‘life event’ (See page 26).

What
Can You
Choose?
Over the following pages you will find a summary
of each of the benefits on offer under My Choice.
Please note this Guide is a summary document and
doesn’t provide you with full details of the benefits.
It’s very important that you review the information
provided in the online Benefits Guide and look at the
terms and conditions before selecting any benefit.
Please note: If you have any existing products or insurance
cover, before you decide to cancel them, you should
bear in mind the benefits provided under My Choice will
only be provided for you as long as you remain an HSBC
employee and it may be more expensive, more difficult,
or impossible to obtain other products or insurance
cover again after you leave. If you do decide to cancel
any existing products or cover, do not do so until you are
covered under the My Choice benefits. It is important that
you compare the offerings covered by any policy before
you decide to cancel existing products or cover with
what is offered under the My Choice benefits so that you
understand any differences in cover.
as you browse through the benefits on offer please
look out for the icons below. they are designed to let
you know if this benefit provides you with Income tax
and/or national Insurance Contributions savings. they will
also tell you if the benefit is part of your existing
employee package (a core benefit).
You will not pay Income tax on this benefit
You will not pay national Insurance
Contributions on this benefit
Core benefit
For full details of the coverage and restrictions
relating to these benefits, please refer to the
online Benefits Guide on the My Reward website:
www.myreward.staff.hsbc.co.uk
Please note that each benefit is subject to the terms and
conditions of the provider as detailed in the online Benefits
Guide and as amended from time-to-time. It is important
for your own protection that you read these terms and
conditions and the important information provided carefully
and in full, before selecting each benefit. You will be
required to confirm that you have read, understood and
accepted the terms and conditions before making your
benefit selections.
the terms and conditions set out what is covered, what
is not covered, the limitations and exclusions that apply
and where words and phrases have specific meanings for
that benefit. If you do not comply with the relevant terms
WHat Can YOu CHOOSe?
and conditions, any claim made may be refused or not
paid in full. the HSBC Group shall not be liable to provide
any benefits or any compensation in lieu thereof, or take
any action to enforce the provision of such benefits in
circumstances where the relevant provider refuses for any
reason whatsoever, to provide any benefits to you.
the benefit terms and conditions and other important
information that applies to each benefit can be found in the
online Benefits Guide. If you do not understand something
please contact My Reward Centre for further information.
FInanCe & PROteCtIOn
Pages 8 – 13
HealtH
Pages 14 – 17
leISuRe & lIFeStYle
Pages 18 – 23
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finanCe &
proteCtion
fOR fUll detailS Of tHe COveRage and ReStRiCtiOnS
Relating tO tHeSe BenefitS, PleaSe RefeR tO tHe
Online BenefitS gUide On tHe MY RewaRd weBSite:
www.MYRewaRd.Staff.HSBC.CO.UK

CRItICal IllneSS COveR – FOR Me
Provider: HSBC life (uK) limited
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If you were to become critically ill, would you have other sources of income to
support you and your family?
If you were to become critically ill and need specific care, would a lump sum
payment ease the financial burden on your dependants?
Compare any existing critical illness cover you currently have with what this
benefit offers so that you fully understand the differences.
Critical Illness Cover – for Me provides you with a tax-free lump sum of up to £250,000
if you are diagnosed with specified illnesses or undergo certain operations, provided you
survive for a specified period. the cover is subject to a pre-existing condition exclusion and
an associated condition exclusion. It’s up to you how you spend the cash, you could pay
off your mortgage, take a recuperative holiday or cover the cost of private nursing care.
There are two grades of cover:
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•
Standard – which provides a lump sum if you are diagnosed with one of a number
of illnesses or conditions
Comprehensive – which provides a lump sum for a wider range of illnesses
and conditions.
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are you dependent on two sources of income? If your partner were to
become critically ill, do you have another source of income to support you
and your family?
do you have dependants who would need financial support if your partner
were to become critically ill?
Compare any existing critical illness cover your partner currently has with what is
offered under this benefit so that you and your partner fully understand
the differences.
Critical Illness Cover – for My Partner provides you with a tax-free lump sum of up to
£150,000 should your partner be diagnosed with specified illnesses or undergo certain
operations, provided they survive for a specified period. the cover is subject to a preexisting
condition exclusion and an associated condition exclusion. this benefit is to
assist you and your family at a time of need. It’s up to you how you spend the cash,
you could pay off your mortgage, take a recuperative holiday or cover the cost of private
nursing care.
Please note you can only choose this benefit if you have selected Critical Illness Cover –
for Me, for yourself.
There are two grades of cover:
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•
CRItICal IllneSS COveR – FOR MY PaRtneR
Provider: HSBC life (uK) limited
FInanCe & PROteCtIOn
Standard – which provides a lump sum if your partner is diagnosed with one of
a number of illnesses or conditions
Comprehensive – which provides a lump sum for a wider range of illnesses
and conditions.
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FInanCe & PROteCtIOn
lIFe aSSuRanCe – FOR Me
Provider: HSBC life (uK) limited
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do you have life assurance from another source? If you do, does it provide a
sufficient level of insurance?
do you have dependants to protect if something were to happen to you?
do you have any debts that might become someone’s responsibility if you
were to die?
life assurance – for Me provides a lump sum payment if you die while you are an eligible
employee of HSBC. For most employees, this is currently provided through your pension
scheme. through My Choice, most employees have the opportunity to change the level
of lump sum life assurance that would be paid in the event of death while still employed
by HSBC.
eligible employees under age 75 can select to change their level of cover in units
between two and ten times pensionable salary. You cannot choose to increase your life
assurance cover if you are over age 65. Please refer to the online Benefits Guide for
further information.
lIFe aSSuRanCe – FOR MY PaRtneR
Provider: HSBC life (uK) limited
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does your partner have life assurance from another source? If they do, does it
provide a sufficient level of insurance?
does your partner have dependants to protect if something were to happen to
them?
does your partner have any debts that might become someone’s responsibility
if they were to die?
life assurance – for My Partner provides a lump sum payment to you if your partner dies.
this benefit is to assist you and your family at a time of need. Please note that you cannot
cover your partner if they are also employed by HSBC at the date you make your choices.
If they require life assurance cover under My Choice, they should select their own cover
under life assurance − for Me.
You can choose cover for your partner in tax-free units of £25,000. the maximum amount
of cover is £250,000.
For more inFormation please visit
www.myreward.staFF.hsbc.co.uk

PeRSOnal aCCIdent COveR – FOR Me
Provider: aIG (uK) limited
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do you have access to any savings that you could use if you are permanently
disabled by an accident?
Would a lump sum payment help ease the financial burden if you became
disabled?
Personal accident Cover – for Me provides a tax-free lump sum benefit if you die, or
suffer permanent total or partial disablement, due to an accident covered by the policy.
However, the accidental death benefit may be subject to inheritance tax when it becomes
part of a deceased person’s estate. Please note that this benefit is in addition to the
standard personal accident cover provided to you by HSBC.
You can choose cover in units of £30,000 (maximum benefit for permanent disability).
the maximum amount of cover is £300,000.
PeRSOnal aCCIdent COveR –
FOR MY PaRtneR Provider: aIG (uK) limited
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•
FInanCe & PROteCtIOn
are there any savings that could be used if your partner is permanently
disabled by an accident?
Would a lump sum payment help ease the financial burden if your partner
became disabled?
Personal accident Cover − for My Partner provides a tax-free lump sum if your partner
dies, or suffers permanent total or partial disablement, due to an accident covered by
the policy. However, the accidental death benefit may be subject to inheritance tax when
it becomes part of the deceased person’s estate.
You can choose cover in units of £30,000 (maximum benefit for permanent disability).
the maximum amount of cover is £300,000.
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FInanCe & PROteCtIOn
use the my reward
website to select
your my choice
beneFits. it’s quick
and easy.
RetIReMent SavInGS – dC MeMBeRS
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do you want to make additional retirement savings through the dCS
or first direct GPP?
do you feel that your provision for retirement is adequate?
When do you plan to retire?
do you know how much income you need for your retirement?
under the improved dCS of the HSBC Bank (uK) Pension Scheme, you are no longer
required to contribute to your pension. the HSBC Group will make contributions of 8%.
Please note if you are an employee of first direct, the HSBC Group will contribute 6%.
You can also choose to make voluntary member contributions via salary sacrifice in 1%
increments of your pensionable salary. the HSBC Group will match any contributions you
choose to make up to 5% of your pensionable salary.
If you are a member of the first direct GPP, you can also choose whether to stay in the
GPP, or leave the GPP and join the dCS.

GROuP InCOMe PROteCtIOn
Provider: HSBC life (uK) limited
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If you were unable to work due to illness or injury would you have other sources
of income or savings to support you or your family while you recovered?
do you have dependants who would need financial support if you were unable
to work for an extended period?
do you currently have long-term income protection insurance? If so, does it
provide sufficient cover?
Group Income Protection provides a regular income if you are unable to work due to
illness or injury for more than 26 consecutive weeks and suffer a loss of earnings.
If you are not eligible to change this benefit it will not appear in your My Choice
selections. If you are eligible to change this benefit, you can choose to receive:
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30% of benefit salary (payable for a five-year term)
30% of benefit salary (payable until your Contractual Retirement age)
45% of benefit salary (payable for a five-year term)
45% of benefit salary (payable until your Contractual Retirement age)
60% of benefit salary (payable for a five-year term)
60% of benefit salary (payable until your Contractual Retirement age).
Benefit salary is generally your basic salary. If you currently receive cover under your
contract of employment of 75% of benefit salary less employment and Support allowance
(payable until your Contractual Retirement age) you may select this option under My
Choice. this option is only available to those currently entitled to this level of cover.
FInanCe & PROteCtIOn
use the my reward
website to select
your my choice
beneFits. it’s quick
and easy.
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health
fOR fUll detailS Of tHe COveRage and ReStRiCtiOnS
Relating tO tHeSe BenefitS, PleaSe RefeR tO tHe
Online BenefitS gUide On tHe MY RewaRd weBSite:
www.MYRewaRd.Staff.HSBC.CO.UK

HealtH aSSeSSMent – FOR Me
Provider: Bupa Wellness
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do you value the comfort and security of having regular health assessments?
do you have a history of heart disease, cancer or other illnesses in your family?
Health assessment − for Me allows you to enjoy a regular review of your physical
condition as well as your lifestyle, to ensure your continued health and well-being. If you
are already eligible for a company-paid health assessment you also have the option to
upgrade this from a ‘Complete’ assessment to an ‘advanced’ assessment at a cost to you.
The three levels of assessment on offer are:
• Essential Assessment – a general assessment focusing on lifestyle and health issues
• Complete Assessment – a comprehensive assessment designed to provide you
with an in-depth profile of your health and well-being. It also includes a 45 minute
consultation with a Bupa doctor
• Advanced Assessment – generally appropriate for men over age 40 and women
over age 50 (unless there is a family history of cardiovascular disease), this is a
full assessment of your health status and well-being that includes an exercise
electrocardiogram (eCG), and a cardio-respiratory exercise test to assess the
efficiency of your heart, lungs, metabolism, circulation and muscles during exercise.
Please note that if you are female and over age 40, you also have the option to add a
mammogram to the ‘Complete’ and ‘Advanced’ assessments.
HealtH aSSeSSMent – FOR MY PaRtneR
Provider: Bupa Wellness
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•
does your partner value the comfort and security of having regular
health assessments?
does your partner have a history of heart disease, cancer or other illnesses
in their family?
HealtH
Health assessment – for My Partner gives your partner the opportunity to take time out
to review both their physical condition as well as their lifestyle, to ensure their continued
health and well-being.
The three levels of assessment on offer are:
• Essential Assessment – a general assessment focusing on lifestyle and health issues
• Complete Assessment – a comprehensive assessment designed to provide your
partner with an in-depth profile of their health and well-being. It also includes
a 45 minute consultation with a Bupa doctor
• Advanced Assessment – generally appropriate for men over age 40 and women
over age 50 (unless there is a family history of cardiovascular disease), this is a
full assessment of your partner’s health status and well-being that includes an
exercise electrocardiogram (eCG), and a cardio-respiratory exercise test to assess
the efficiency of your partner’s heart, lungs, metabolism, circulation and muscles
during exercise.
Please note that if your partner is female and over age 40, you also have the option to add
a mammogram to the ‘Complete’ and ‘Advanced’ assessments.
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HealtH
use the my reward
website to select
your my choice
beneFits. it’s quick
and easy.
HealtHCaRe Plan
Provider: HSBC Group Healthcare Plan (administered by Bupa Insurance Services ltd)
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does HSBC provide you with funding for this benefit?
do you currently have healthcare cover? If so, does this provide the level of
cover you want?
does your partner have healthcare cover through their work?
do you have eligible dependants who require healthcare cover?
If you currently have HSBC healthcare cover provided through aXa PPP
Healthcare, would you like to transfer to the Bupa healthcare arrangement and
release funding to spend on other benefits?
You and your partner should consider carefully whether it is appropriate to
cancel any existing healthcare cover you may already have.
the Healthcare Plan offers you and your family a range of options for medical care in
addition to the nHS. the options offer faster access and more flexibility in the treatment
you receive and cover diagnostic tests, home nursing and alternative therapies.
If you select this benefit you will have access to Bupa’s 24 hour confidential ‘Healthline’.
You will also be reimbursed for the cost of eligible out-patient treatment or investigations,
and any in-patient treatment and accommodation you receive in private care up to
defined levels.

dental COveR
Provider: national dental Plan (ndP)
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do you currently have dental cover? If so, does this provide the level of cover
you want?
If you already use a private dentist, how often do you or your family have
treatment? What is the average yearly cost of this treatment?
do you want to cover your children? they may be covered free under the nHS
until the age of 18, or 19 if in full-time education, but it may be worth including
them if they require orthodontic treatment (braces).
You and/or your partner should consider carefully whether it is appropriate to
cancel any dental cover you might already have.
the benefit helps cover the cost of any necessary dental treatment as well as
preventative dental care with an nHS or private dentist. You can select dental cover for
yourself, your partner, your children and your family. You may choose from three levels of
cover, ranging from basic nHS coverage to more expensive private dental treatment.
With My Choice dental cover:
• You can visit the dentist of your choice and can even claim if you need
treatment overseas
•
•
Your existing state of dental health does not affect your eligibility or your cover
there is no waiting period – you can claim for dental treatment from the first day you
are covered.
HealtH
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leisure &
lifestYle
fOR fUll detailS Of tHe COveRage and ReStRiCtiOnS
Relating tO tHeSe BenefitS, PleaSe RefeR tO tHe
Online BenefitS gUide On tHe MY RewaRd weBSite:
www.MYRewaRd.Staff.HSBC.CO.UK

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•
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•
•
do you have children under the age of 16 for whom you need to
provide childcare?
do you use a registered or approved home childcarer?
are you based at Stourton or Hamilton and have children younger than five?
Would you like a convenient, automated way to pay for childcare that saves
you Income tax and national Insurance Contributions?
are you eligible for, or currently receiving, Childcare tax Credits?
My Choice allows you to reduce your childcare costs by offering either kidsunlimited
childcare vouchers to pay for all types of registered childcare, or the opportunity to pay
for a place at one of the first direct on-site nurseries (subject to eligibility).
You can choose from the following options for your childcare needs:
•
CHIldCaRe
Provider: kidsunlimited
Childcare vouchers − you can choose monthly electronic childcare vouchers
in £1 units, with a minimum monthly payment of £10. this option is available to
all employees
• first direct on-site nurseries:
Childcare vouchers (up to £2,915 p.a. tax and nI free)
– Stourton on-site nursery − choose to contribute in pounds and pence, with a
minimum monthly payment of £1 (available only to Stourton-based employees)
– Hamilton on-site nursery − choose to contribute in pounds and pence, with a
minimum monthly payment of £1 (available only to Hamilton-based employees).
CYCle2WORK
Provider: Halfords
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•
Is cycling an appropriate mode of transport for your journey to work?
leISuRe & lIFeStYle
do you need to get fit or find a more reliable or cheaper way to get to work?
are you interested in reducing your ‘carbon footprint’?
If you are thinking about cycling to work, or already do, this is a cheap and easy way
to have the bicycle of your choice. through My Choice, you can choose a bicycle and
accessories for commuting to work from £200 up to £1,000. Choosing this benefit
commits you for one year.
If you select a bicycle and accessories through My Choice you will get to choose a further
15% worth of free cycle accessories. For example, if you select a bicycle and accessories
with a value of £300, you will be able to choose a further £45 worth of free accessories.
Please note the 15% offer is only redeemable against standard store and ‘sold to order’
ranges available from Halfords, Bikehut and Cycle Republic. In addition, you will need to
arrange insurance for the bicycle.
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leISuRe & lIFeStYle
CHaRItY dOnatIOnS – SPeCIFIed CHaRItIeS
Provider: Charities aid Foundation (CaF)
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do you want to contribute to charity?
You can still contribute to your own selected charities via the Give as You earn
Scheme that will continue outside My Choice.
Subject to approval you can start, stop or change contributions to specified
charities at any time through a ‘life event’.
You can make regular donations to any, or all, of the six HSBC nominated charities tax
effectively and free from national Insurance Contributions.
the nominated charities are:
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•
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•
alzheimer’s Society
British Heart Foundation
Cancer Research uK
Mencap
nSPCC Childline
World Wildlife Fund (WWF).
Contributions to each of the charities need to be in whole pounds and you can choose
to make donations from as little as £1 a month.
•
•
are you willing to give up a maximum of 99p a month to charity?
are you looking for an easy way to give to charity?
the Keep the Change scheme donates the spare pennies from your net monthly salary to
the HSBC nominated charities.
the nominated charities are:
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CHaRItY dOnatIOnS – KeeP tHe CHanGe
Provider: Pennies from Heaven
alzheimer’s Society
British Heart Foundation
Cancer Research uK
Mencap
nSPCC Childline
World Wildlife Fund (WWF).
For example, if your net monthly salary is £900.17, then by signing up to the Keep the
Change scheme you will donate 17p a month to charity. If your salary varies each month
then the amount of pennies donated will also vary. the maximum you can give each
month through the Keep the Change scheme is 99p.

CaRBOn OFFSettInG
Provider: HSBC Group Corporate Sustainability
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are you concerned about the impact of carbon emissions on the environment?
do you know the size of your own carbon footprint?
do you want to offset your carbon footprint and simultaneously support clean
energy projects?
through My Choice, you have the opportunity to make regular contributions to offset
all, or part of, your carbon footprint. each carbon offset equates to one tonne of carbon
dioxide avoided and costs £5 per offset for the My Choice year. to put this in perspective,
the average uK home emits 10 tonnes of carbon dioxide each year.
You must select a minimum of two offsets for the My Choice year, but there is no limit
to the number of offsets you can select, subject to the overall limits applicable to
My Choice. If you select this benefit, the cost of your carbon offset will be spread over a
12-month period.
For example, if you select 10 units the monthly cost will be (£5 x 10 units) / 12 months =
£4.17 per month.
use the my reward
website to select
your my choice
beneFits. it’s quick
and easy.
leISuRe & lIFeStYle
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leISuRe & lIFeStYle
FItneSS CluB
Provider: la Fitness
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•
•
are you and/or your partner looking to join a gym?
are you a member of another fitness club? If so, how do they compare?
Is there a convenient la Fitness gym near your home or work or even on your
way home?
are you currently a member of a gym but want to take advantage of
corporate rates?
enjoy discounted gym membership for you and your partner at la Fitness Health Clubs.
Simply select the gym location and membership package most appropriate to you and
your partner.
If you have an existing la Fitness membership, you can transfer this into My Choice
without any penalty.
RetaIl vOuCHeRS
Provider: various
•
If you shop regularly at the same store then you may want to pay via retail
vouchers and save money each time you shop.
Retail vouchers enable you to benefit from great savings on your regular shopping bills or
larger purchases.
For example, if you selected £500 a month of Sainsbury’s vouchers, you will only pay
£475, plus a £1.50 handling charge, each month.
You can select retail vouchers through My Choice in £10 units per retailer per month. You
must choose a minimum of £30 of retail vouchers each month (these can be for multiple
retailers, so long as the total is at least £30 a month). If you want, you may also change
the value of your voucher selection each month.

•
•
do you currently have car breakdown cover? If so, does it provide the level of
cover you want?
Would you value the peace of mind that comes with car breakdown cover?
You can choose from a range of car breakdown cover options for you and your partner,
24 hours a day, 365 days a year for the vehicle you are travelling in. Subject to terms and
conditions, there are three cover options on offer to you:
•
•
•
CaR BReaKdOWn COveR
Provider: Mondial assistance (uK) limited
Silver
Gold
Platinum.
Features range from standard uK roadside assistance and recovery all the way to five
nights hotel accommodation for you and your family, should you breakdown in continental
europe. Simply select what you feel provides the best cover for you and your partner.
use the my reward
website to select
your my choice
beneFits. it’s quick
and easy.
leISuRe & lIFeStYle
23

24
MY ReWaRd WeBSIte
SIX eaSY StePS tO uSInG tHe MY ReWaRd WeBSIte tO SeleCt YOuR MY CHOICe BeneFItS.
01
Log on to the My Reward site using the details and
password sent to you.
You can access the My Reward website at
www.myreward.staff.hsbc.co.uk. You can also access
the website from the intranet: at Home>HR and
learning>Reward at HSBC or via the Reward Proposal
intranet site.
You will be asked to change your password when you first
log on to the My Reward site.
after successful log on you will see the My Choice
area links.
02
Click on ‘Personal Details’
this takes you to the area of the site containing
personal information.
03
Check your personal details are correct:
Check to see if there are any errors in the data concerning:
•
•
•
about you
Your address
Your dependants
– You can add or change dependant information in the
system. any changes you make will not be saved
until you ‘Confirm’ your changes in the ‘Select Your
Benefits’ page.
Please note, if your personal information is incorrect you
can change it using ‘My HR desktop’ from the HSBC
uK intranet site – select ‘My Personal Information’.
alternatively, contact your HR department.
04
If your personal information is correct, click on
‘OK & Continue’
this takes you to the ‘Select your Benefits’ page.
05
Make your selections on the ‘Select Your Benefits’ page
•
•
•
Click on a benefit from the table, see the options
available to you and make your selection.
Click on the ‘learn More about this Benefit’ link to
view more details on the options available and the
provider’s full terms and conditions.
Click on the ‘OK & view Selections’ button to save
your selection and return to the table.
06
Submit your selections
tick the box to say that you have read and agreed the
terms and conditions for all your selections in order to
complete your submission.
Submit your choices by clicking on ‘Confirm’.
You will be taken to the ‘Completed Successfully’ page
where you can view a summary of your selections.
We recommend you print a copy of this page and keep
it for your reference.

Can YOu lOG On and lOG
OFF FROM tHe MY ReWaRd
SIte and Save YOuR
SeleCtIOnS?
Yes. When you are logged on you will be able to save and see
your selections by clicking the ‘OK & view Selections’ button
at the bottom of each benefit selection page. However, if
you want to log off, your selections will only be saved if you
confirm them in the system. You do this by clicking on the
‘Confirm’ button at the bottom of the ‘Select your Benefits’
page. If you attempt to log off without confirming your
selections you will receive a warning message.
IMPORtant POIntS
tO ReMeMBeR
1. upon joining HSBC, if you don’t receive your log on
details, please refer to the Reward Proposal intranet site or
call My Reward Centre on 0845 603 3133. lines are open
Monday to Friday between 9am and 5pm.
2. Please note, confirmation of your My Choice selections is
entirely at HSBC’s discretion. You will be notified if for some
reason, HSBC is not able to authorise your choice.
3. Some partner benefits are subject to underwriting rules
and temporary cover is given in the first instance for a
period of 90 days. You are advised to read the relevant
terms and conditions in the online Benefits Guide.
4. If you need to make any changes to personal details
held in My Choice, please ensure that you also update
your HR records. any changes you make within My Choice
will not automatically update any centrally held HR records.
5. If you have any questions about selecting your My
Choice benefits, please call My Reward Centre on 0845
603 3133. lines are open Monday to Friday between 9am
and 5pm.
MY ReWaRd WeBSIte
this guide is a
summary oF
the my choice
beneFits. go
to the my
reward
website to
view Full
details oF the
beneFits.
25

26
WHat HaPPenS IF YOuR CIRCuMStanCeS CHanGe?
WHat HaPPenS IF YOuR
CIRCuMStanCeS CHanGe?
Changes in your personal or work situation are referred
to as a ‘life event’. Some common examples of what
qualifies as a life event under My Choice are:
•
•
•
Going on extended leave
Changes to your job
Change in your marital status/number of dependants.
If you experience a life event you may want to revisit some
of your My Choice benefit selections. You may request
a change to your benefit choices within two months of
a qualifying life event. Changes are allowed with most
options, however there are some restrictions. You can
find out more about this in the online Benefits Guide on the
My Reward website at www.myreward.staff.hsbc.co.uk
Long-term absence
Please note that special arrangements apply if you are
absent from work for an extended period of time during
which your income level is expected to change. Reasons
for such absence may be sabbatical leave, long-term
illness, maternity leave, secondment or leave without pay.
If you anticipate taking any period of long-term absence
during which your income level may change, you are
strongly advised to discuss your situation with HR or line
Manager in advance of your absence.
Your My Choice benefit selections will continue to remain at
their previous level during any period of long-term absence,
unless you make changes as a result of a life event.
However, the provision of your My Choice benefits is
subject at all times to your monthly income level being
sufficient to fund the cost of the benefit provision. If your
income level drops below the level necessary to guarantee
the same benefit selections, in the first instance priority
will be given to funding any pension contributions to the
extent your revised income allows.
For other benefits, you will receive either a lower level
of the benefit or the benefit may be cancelled by HSBC.
Where the benefit has a minimum contract period,
appropriate deductions will be made from your net pay.
If your revised income level is insufficient to meet
the cost of all or some of your benefits, you should
consider whether it is possible to change your benefit
selections as a result of a life event to reflect your revised
circumstances.
use the my
reward
website to
select your
my choice
beneFits. it’s
quick and
easy.

Want
to
knoW
more?
fOR MORe infORMatiOn
PleaSe viSit tHe MY RewaRd
weBSite at:
www.myreward.staff.hsbc.co.uk
From the intranet: Home>HR and learning>Reward at
HSBC or visit the Reward Proposal intranet site.
Want tO KnOW MORe?
27

28
tHe SMall PRInt
tHe SMall PRInt
the following section provides details of the terms and conditions
governing:
•
•
•
the operation of the My Choice scheme
the benefit choices available to you through My Choice
the use of the My Reward website.
the information reflects the wording on the My Reward website
at www.myreward.staff.hsbc.co.uk
Benefit providers’ terms and conditions
Please note that each benefit is subject to the terms and
conditions of the provider as detailed in the online Benefits Guide
and as amended from time-to-time. It is important for your
own protection that you read these terms and conditions and
the important information provided carefully and in full, before
selecting each benefit. . You will be required to confirm that you
have read, understood and accepted the terms and conditions
before making your benefit selections.
the terms and conditions set out what is covered, what is not
covered, the limitations and exclusions that apply and where
words and phrases have specific meanings for that benefit. If
you do not comply with the relevant terms and conditions, any
claim made may be refused or not paid in full. the HSBC Group
shall not be liable to provide any benefits or any compensation in
lieu thereof, or take any action to enforce the provision of such
benefits in circumstances where the relevant provider refuses for
any reason whatsoever, to provide any benefits to you.
the benefit terms and conditions and other important information
that applies to each benefit can be found in the online Benefits
Guide. If you do not understand something please contact My
Reward Centre for further information.
My Choice terms and conditions
the information you provide on the website will be used for the
administration and supply of My Choice benefits to you and, if
appropriate, your dependants.
Subject to the HSBC Group’s approval, your My Choice benefit
selection determines your annual benefit entitlement and will
have an impact on your contractual salary for the forthcoming
year. HSBC needs to authorise your My Choice selections in
order for these to retain their preferential Income tax and national
Insurance treatment (where applicable).
the HSBC Group will aim to provide your My Choice selections,
but reserves the right to vary them and cannot guarantee that
they will be approved. therefore, confirmation of your My Choice
selections is entirely at HSBC’s discretion. You can view your My
Choice benefit selections at any time during the year by accessing
the My Reward website.
By making selections, you will be agreeing to the necessary
variation in your future salary entitlement (either a decrease to
reflect an increased level of benefit or an increase to reflect a
reduced level of benefit) and you will also be agreeing to the
HSBC Group and/or your employing entity making the necessary
reduction/deductions from your basic salary to implement your
selections. any such variation in salary entitlement will then be
reflected in monthly pay with usual deductions for Income tax and
national Insurance contributions.
the benefits offered under My Choice are subject to the benefit
provider’s terms and conditions in place from time-to-time. these
are detailed in the online Benefits Guide. Please make sure that
you read and understand these terms and conditions before you
make your selections. Your receipt of (and if applicable acceptance
by the relevant benefit providers for) these benefits is subject
to you agreeing to the conditions specified by them. Such third
party offerings may create a contractual relationship that has
legal consequences for you. the HSBC Group shall not be liable
to provide any benefits or any compensation in lieu thereof,
or take any action to enforce the provision of such benefits, in
circumstances where the relevant provider refuses for any reason
whatsoever, to provide any benefits to you.
In providing your My Choice benefits the HSBC Group as your
employer is not providing insurance cover, as this cover is provided
by the benefit providers. a benefit provider can be a member of
the HSBC Group as detailed in the online Benefits Guide.
You are advised to seek independent financial advice if you
need any guidance about the suitability of any of the benefits in
My Choice for your personal circumstances. to find sources of
independent financial advice visit, www.unbiased.co.uk
Please note that special arrangements apply in respect of any
participating staff member who is absent from work for an
extended period of time during which his or her income level is
expected to change. Reasons for such absence may be sabbatical
leave, long-term illness, maternity leave, secondment or leave
without pay. If you anticipate taking any period of long-term
absence during which your income level may change, you are
strongly advised to discuss your situation with HSBC Human
Resources or line Manager in advance of your absence.
during any period of long-term absence, your My Choice benefit
selections will continue to remain at their previous level, unless
you make changes as a result of a life event.
However, the provision of your My Choice benefits is subject at
all times to your monthly income level being sufficient to fund the
cost of the benefit provision. If your income level drops below
the level necessary to guarantee the same benefit selections,
in the first instance priority will be given to funding any pension
contributions to the extent your revised income allows.
For other benefits, you will receive either a lower level of
the benefit or the benefit may be cancelled by HSBC. Where the
benefit has a minimum contract period, appropriate deductions
will be made from your net pay.
If your revised income level is insufficient to meet the cost of
all or some of your benefits, you should consider whether it is
possible to change your benefit selections as a result of a life
event to reflect your revised circumstances.

the HSBC Group has the right, at any time in the future, to:
•
•
•
•
Review/withdraw My Choice
Change the benefits on offer
Change the benefit provider(s), and
Change the prices at which the benefits are offered to you.
Note on Group Income Protection, Life Assurance
the monthly cost of Group Income Protection, life assurance –
for Me and Partner and dependants’ Benefit are based on your
salary as at 1 april and then as at the preceeding 1 October for
each subsequent scheme year, (or date joining HSBC if later)
adjusted for any changes in your working hours. the monthly cost
of Retirement Savings is based on your current salary. therefore,
should your salary change at any time, your cover and the monthly
cost may also change accordingly, with no further notice to you.
Written Confirmation Statements may be issued from time to
time confirming the benefits selected by employees, and/ or
changes to the benefits selected by employees or changes made
to the benefits pursuant to the My Choice terms and conditions.
Terms of use of the My Reward website
this site (“Site”) is operated and hosted for, and on behalf of,
the HSBC Group by Hewitt associates Outsourcing limited
(Hewitt/we/our) to allow HSBC uK employees to administer
certain employee benefits. Your access to, and use of, this Site
are subject to the terms and conditions contained within it. By
accessing this Site, you accept these terms of use without
limitation or qualification.
this Site is intended for uK use only. all users must be approved
by the HSBC Group. If you are not an approved user, then you
must not use this Site. the entry of your employee Id and
password and/or any other identifier serves as verification of
your identity.
any instructions, choices, or requests you make on this Site will
be considered as your written permission to the HSBC Group,
Hewitt and/or My Reward Centre to provide information or
conduct transactions on your behalf, in accordance with HSBC’s
employee policies, programmes, or employee benefit plans in
force from time to time.
It is your sole responsibility to review the benefits on this Site and
any written Confirmation Statement provided to you on paper or in
electronic format regarding any instructions, choices or requests
that you make through this Site. You will need to review this as
soon as possible, as it will be your sole responsibility to verify that
the benefit selections identified on this Site and in any Statement
correspond precisely with the choices that you have made, and
that all other information about you (and if applicable, your partner
and / or dependants) is accurate.
It is your responsibility to review this Site and any information
transmitted to you for inaccuracies. In the event that there are
any inaccuracies, it is your responsibility to ensure that they are
corrected as soon as possible, either by amending them yourself
on this Site where possible, or by contacting My Reward Centre
to request that amendments are made. Failure to do so may
mean that you will not receive the benefits you are expecting.
neither HSBC, nor any third party provider or administrator will be
responsible for providing benefits that have not been confirmed
on the My Reward website, in a Confirmation Statement or
separately in writing.
the functionality of this website permits you to request or provide
personal information – for example, pension arrangement balance
information, pay, etc. You are solely responsible for any loss
of privacy or confidentiality of this information, if you disclose
your employee Id, password, security answers, and/or other
identifier to any other party. You agree to contact My Reward
Centre immediately if you have reason to believe that someone
has gained unauthorised access to your employee Id, password,
security answers, or any other identifier.
tHe SMall PRInt
this Site may not perform as intended at all times. Hewitt, the
HSBC Group and/or My Reward Centre are not responsible
for any error, omission, interruption or delay in operation of or
transmission through this Site, communication line failure, system
failure, or other circumstances beyond their control.
this Site and its contents are provided “as is” .While Hewitt and/
or the HSBC Group has made every attempt to ensure that the
information contained on this Site is complete and accurate, no
representation or warranty of any kind is made with respect to
the Site and the information on it. Hewitt and /or the HSBC Group
may change the information at any time without notice.
this Site contains copyright material as well as trademarks and
service marks that are owned by Hewitt, the HSBC Group,
their related entities and affiliates, and/or third parties. nothing
contained on this Site shall be construed as conferring any right to
any copyright, trademark, or other proprietary interest of Hewitt,
the HSBC Group, their related entities or affiliates, and/or any third
party. You agree not to alter, remove or infringe any copyright,
trademark, or service mark and you also agree not alter or remove
any copyright, trademark, or any other notice from any authorised
copy of the content on this Site.
Some of the material contained on this Site is based on official
plan documentation or contractual terms with third parties which
govern entitlement to benefits (“official documentation”). It is the
official documentation and the My Choice terms and Conditions
(set out in the legal Information section of this Site) that governs
your entitlement to specific benefits, not any other material
contained on this Site. this Site is not, nor is it intended to be, the
legal plan document, an official summary of any plan provisions or
a contract between HSBC and you. In addition, while there may
be instances where the official documentation provides different
benefits to different employee groups, generally, the Site displays
only those benefits that are applicable to an individual, based on
his or her employee group. every effort has been made to ensure
accuracy and in the unlikely event that there is a discrepancy
between the Site and the official documentation, the official
documentation will prevail.
29

30
tHe SMall PRInt
the My Choice terms and Conditions (set out in the legal
Information section of this Site) apply to the provision of any
benefits and HSBC reserves the right to amend or terminate the
benefit scheme(s) or associated programme(s) at any time.
Certain links on this Site connect to websites maintained by
third parties. no representations or warranties are made as to
the content of these sites. Hewitt and the HSBC Group take no
responsibility for such sites. the links to these other websites
are not an endorsement of those websites however it is your
responsibility to review any other website’s policies before
providing any personal information or other sensitive information.
On this Site, references to “HSBC Group” or “HSBC” means (1)
any holding company from time to time of HSBC Holdings plc
and any entity which from time to time is a subsidiary of HSBC
Holdings plc or of any such holding company (for which purpose
the expressions “subsidiary” and “holding company” have the
meanings set out in sections 736 and 736a of the Companies act
1985); and (2) any entity over which from time to time any of the
entities defined in paragraph (1) of this definition either directly
or indirectly exercises management control, even though it may
own less than fifty percent (50%) of the shares and is prevented
by law from owning a greater shareholding; and “HSBC Group
Member” shall be interpreted accordingly.

BeneFIt Fund eXaMPleS
BeneFIt Fund eXaMPleS FOR neW ReCRuItS IntO GMO
Assumptions
assumes employees are working for GMO and are under age 40
* assumes employee contributes 5% pensionable salary to attract the full company match
** this figure will only be shown at the next annual enrolment as you can only select it at that time
*** assumes employee has cover for themselves and their family
Example 1 Example 2 Example 3 Example 4
Grade GCB 7 – GCB 8 GCB 6 GCB 5 GCB 4
annual Benefit Salary £17,500.00 £25,000.00 £32,000.00 £45,000.00
annual Benefit Fund £2,487.48 £4,385.52 £5,849.76 £12,977.52
Monthly Benefit Salary £1,458.33 £2,083.33 £2,666.67 £3,750.00
Monthly Benefit Fund £207.29 £365.46 £487.48 £1,081.46
Make up of monthly benefit fund:
• Retirement Savings (dCS pension)*
£189.58 £270.83 £346.67 £487.50
• life assurance – for Me
£3.21 £4.58 £5.87 £8.25
• Partner and dependants’ Benefit
£9.77 £13.96 £17.87 £25.13
• Group Income Protection
£4.73 £6.75 £8.64 £12.15
• Health assessment – for Me**
£0.00 £0.00 £39.09 £39.09
• Healthcare***
£0.00 £69.34 £69.34 £69.34
• Car
£0.00 £0.00 £0.00 £440.00

Your guide to my Choice –
Benefit fund examples for new recruits into GMO