YOUR GUIDE TO MY CHOICE - HSBC careers site
YOUR GUIDE TO MY CHOICE - HSBC careers site
YOUR GUIDE TO MY CHOICE - HSBC careers site
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FINANCE & PROTECTION<br />
use the my reward<br />
web<strong>site</strong> to select<br />
your my choice<br />
benefits. it’s quick<br />
and easy.<br />
Retirement Savings – DC members<br />
• Do you want to make additional retirement savings through the DCS<br />
or first direct GPP?<br />
• Do you feel that your provision for retirement is adequate?<br />
• When do you plan to retire?<br />
• Do you know how much income you need for your retirement?<br />
Under the improved DCS of the <strong>HSBC</strong> Bank (UK) Pension Scheme, you are no longer<br />
required to contribute to your pension. The <strong>HSBC</strong> Group will make contributions of 8%.<br />
Please note if you are an employee of first direct, the <strong>HSBC</strong> Group will contribute 6%.<br />
You can also choose to make voluntary member contributions via salary sacrifice in 1%<br />
increments of your pensionable salary. The <strong>HSBC</strong> Group will match any contributions you<br />
choose to make up to 5% of your pensionable salary.<br />
If you are a member of the first direct GPP, you can also choose whether to stay in the<br />
GPP, or leave the GPP and join the DCS.<br />
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