How it works

You don't stop spending when you give up work. HSBC gives you a chance to build up savings while you're working, to provide benefits in the future.


The more you and HSBC put in, the more you’ll get out. 

HSBC puts in 10% of the first £20,100* of your DC pensionable salary (pro-rated if you're a part-time employee) and 9% of your DC pensionable salary that's over £20,100 (up to the Scheme Earnings Cap) into your DC pension pot.

Plus, HSBC will match any amount you pay up to 7% of your DC pensionable salary. You'll also get tax relief on the amount you pay and pay less National Insurance.

To learn more about DC pensions, your Scheme and your investment options why not watch these three quick videos.

How to get the best from your DC pension pot

What is a Defined Contribution (DC) pension pot

Your DC investment options

The more your DC pension pot grows before you stop working, the more money you’re likely to get. It's up to you to decide how that money is invested and you have five options to choose from - see the guide Your DC pension savings – your choice.

If you're over age 55 and decide to take your DC pension pot, you can currently have up to 25% as a tax free cash sum. Any money left over can be used in different ways - go to the DC member guide to find out more. If you want to carry on working, then HSBC’s flexible retirement options might suit you.

Managing your DC pension pot online is quick and convenient - you can do it any time, anywhere in My Pension.

*The £20,100 threshold may increase each July by the annual rise in the Consumer Price Index (CPI), unless the Principal Employer and the Trustee decide to increase it in another way.

What do I need to do now?

  • Work out how much income you’ll need for life after work, how much of that needs to come from your DC pot and how you can achieve your target using the planner on My Pension
  • Choose how much you can save – use the 3 step plan to find out more
  • Choose how you want to invest your savings – use the 3 step plan to find out more

*The £20,100 threshold may increase each July by the annual rise in the Consumer Price Index (CPI), unless the Principal Employer and the Trustee decide to increase it in another way