YOUR GUIDE TO MY CHOICE - HSBC careers site

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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.