YOUR GUIDE TO MY CHOICE - HSBC careers site

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tHe SMall PRInt
tHe SMall PRInt
the following section provides details of the terms and conditions
governing:
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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.