YOUR GUIDE TO MY CHOICE - HSBC careers site

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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 4
How does MY CHOICE WORK? 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. • 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. 5
Page 1: performance through people Your gui
Page 6 and 7: How does MY CHOICE WORK? How DO you
Page 8 and 9: finance & protection For full detai
Page 10 and 11: FINANCE & PROTECTION Life Assurance
Page 12 and 13: FINANCE & PROTECTION use the my rew
Page 14 and 15: HEALTH For full details of the cove
Page 16 and 17: HEALTH use the my reward website to
Page 18 and 19: LEISURE & LIFESTYLE For full detail
Page 20 and 21: LEISURE & LIFESTYLE Charity Donatio
Page 22 and 23: LEISURE & LIFESTYLE Fitness Club Pr
Page 24 and 25: MY REWARD WEBSITE SIX EASY STEPS TO
Page 26 and 27: WHAT HAPPENS IF YOUR CIRCUMSTANCES
Page 28 and 29: THE SMALL PRINT The small print The
Page 30 and 31: THE SMALL PRINT The My Choice Terms
Page 32: Your guide to my Choice - Benefit f

YOUR GUIDE TO MY CHOICE - HSBC careers site

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