There’s financial help for your family should you die while working for HSBC.
As well as benefits for you, there’s a range of benefits for your family and other dependants:
Lump sum death benefit: four times your benefit salary would be paid if you died while working for HSBC (or the level you’ve chosen through My Choice). Also the value of your own contributions, any bonus sacrifices you’ve made and investment returns received on your own savings would be paid. So we know who you'd like the Trustee to consider to receive the benefits, click on My Pension and go to the “My Beneficiaries” page.
Spouse/civil partner’s pension: they would get a pension of 30% of your benefit salary on the date you die, payable for life.
Dependant’s allowance: a discretionary dependant’s allowance, up to the value of your spouse’s/civil partner’s pension, may be paid. To nominate someone for this benefit, simply update your details online.
Children’s allowance: depending on how many you have, they will be paid a percentage of your spouse/civil partner’s pension as a children’s allowance.
For more information about protection benefits, go to the DC Member guide (4.6MB, PDF).
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