Employee Handbook â HSBC Holdings plc - HSBC careers site

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You will be reimbursed for expenses incurred on the Company's business which are:• Incurred and claimed strictly in accordance with the Company's rules on expenses; and• Supported by the appropriate level of authorisation and documentation.To take best advantage of the Company's buying power, arrangements exist for purchase of certainservices through given suppliers or through a central point. Such arrangements must be complied with.Further details are available in the eExpenses Policy, which is available via Lotus Notes from theeExpenses database.1.12 Retirement and PensionsThe normal retirement age in the Company is currently 65 and your employment will terminateautomatically at the end of the month in which your 65th birthday occurs, in accordance with theRetirement policy as stated in the HR Procedures Manual. Your ‘pensionable retirement age’ isdetermined by the section of the Pension scheme of which you are a member and is shown on yourpension statement (age 60 for most employees). This will mean that, when you reach your ‘pensionableretirement age’ you will still be able to decide whether to retire or whether to continue to work until 65, ifyou are under 65 at that time.1.12.1 The HSBC Defined Contribution Retirement Benefit SchemeThe HSBC Defined Contribution Retirement Benefit Scheme (“DCS Scheme”) is applicable to employeeswho entered service on or after 1 July 1996.The DCS Scheme is contracted in to the State Second Pension (S2P) which replaced the State EarningsRelated Pension Scheme (SERPS) in April 2002.The DCS Scheme is a savings style type of pension which provides:• A pension on retirement.• An ill-health pension (which currently applies if you have five years membership and are unableto continue in employment because of serious ill-health); and• Security for your dependants, which is currently:• A lump sum of four times pensionable salary if you die in service plus a refund of your ownpensions contributions.• A spouse's or civil partner’s pension.• A children's allowance.It is important to note that completion of the Expression of Wish form and/or Specified DependantsNomination form can assist the Trustee when making payments in the event of your death.Provided that you are aged 23 or over when you commence employment, you will automatically becomea full member of the DCS Scheme for pension, life insurance and other benefits. This means that acontribution of 2% of monthly pensionable salary will automatically be deducted from your monthly payand paid to the DCS Scheme as a contribution towards your future pension. Further details on thecontributions the Company will make to the DCS Scheme for your future pension are set out in the DCSScheme Explanatory Booklet.If you are under the age of 23 at the time of commencing employment you will be automatically admittedto the DCS Scheme for life insurance and qualification service towards an ill heath pension. When youreach the age of 23 (provided that you are still an employee of the Company), the contribution of 2% ofmonthly pensionable salary will automatically start to be deducted from your monthly pay and paid to theDCS Scheme as a contribution towards your future pension. You may also make contributions to the DCSScheme for your future pension before you reach the age of 23. Details on how you may do this are setout in the DCS Scheme Explanatory Booklet.
Further details about the DCS Scheme, including the DCS Scheme Explanatory Booklet, an illustrator ofpotential pension benefits, Frequently Asked Questions and details of the DCS Scheme AdministrationTeam, are available on the DCS Scheme intranet site (http://dcsscheme.hacl.uk.hsbc ). You can also call7970 5350 (Internal) or 0845 6095050 (External).The pension benefits detailed in the Handbook are subject to the Trust Deed and Rules of the DCSScheme which may be changed from time to time to the extent permitted by the Trust Deed and Rules.1.12.2 The HSBC Bank (UK) Pension Scheme - Defined Benefit SectionThe Defined Benefit Section (“DBS Scheme”) is applicable to most employees in service before 1 July1996.The DBS Scheme is based on your final salary and pensionable service accrued during your membershipof the DBS Scheme. The DBS Scheme provides:• A pension on retirement.• An ill-health pension (if you have five years membership and are unable to continue in employmentbecause of serious ill-health); and• Security for your dependants:• A lump sum of four times pensionable salary if you die in service.• A spouse's or civil partner’s pension.• A children's allowance.Further details about the DBS Scheme, including the DBS Scheme Explanatory Booklet and details of theDBS Scheme Administration Team are available on the DBS Scheme intranet site(http://dbsscheme.hacl.uk.hsbc).Important points to note are:• The scheme is non-contributory. The total cost of the scheme is met by the employer.• Completion of the Expression of Wish form and/or Specified Dependants Nomination Form can assistthe Trustee when making payments in the event of your death.• The DBS Scheme is contracted-out of the state second pension (S2P) which replaced the StateEarnings Related Pension Scheme (SERPS) in April 2002.• Employees who joined the DBS before 1 January 1975 have the option to retire from age 55, (withprovision for a reduction of part of the pension in some cases) subject to providing notice to theCompany in accordance with their contract of employment.• Ill-health pensions are based upon your actual period of pensionable service accrued to the date ofactual retirement. This may be further enhanced at the discretion of the Trustee, provided it is satisfiedthat your illness is severe, with no likelihood that you will recover or be able to undertake any gainfulemployment in the future.• You are eligible to pay additional voluntary contributions (AVCs) through one of the scheme’s AVCproviders to increase your benefits payable from retirement.You can also call the DBS Scheme Administration Team on 7970 5318 (Internal) or 01727 885318(External).If you are a member of the ex LSPF section of the HSBC Bank (UK) Pension Scheme, please contact theDBS Scheme Administration Team for further details.The pension benefits detailed in the Handbook are subject to the Trust Deed and Rules of the DBSScheme which may be changed from time to time to the extent permitted by the Trust Deed and Rules.1.13 Standards of ConductAs a leading member of the global financial community, our business is based on the utmost integrity andmutual trust. In order to maintain and safeguard the trust and confidence of our customers and the public,the Company places paramount importance on the maintenance of certain standards of conduct. The
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Employee Handbook â HSBC Holdings plc - HSBC careers site