Do HSBC offer pensions?
HSBC Pension Options and Choice is Now LIMITED
The choices for your pension are now limited as HSBC are no longer providing advice or support. Therefore we are happy to provide you with qualified and guaranteed advice and help.
When can I take my HSBC pension?
The DB Normal Retirement Age (NRA) under the Scheme is 65, although you can choose to take your benefits at any age from 55 to 75. Some members may have paid the additional 3% to retain the earliest age to draw an unreduced DB pension (this is age 60 for the majority).
How do I get my pension money back?
You can leave (called ‘opting out’) if you want to. If you opt out within a month of your employer adding you to the scheme, you’ll get back any money you’ve already paid in. You may not be able to get your payments refunded if you opt out later – they’ll usually stay in your pension until you retire.
How do I see my pension?
Look at your pension statements. Your provider should send you an annual pension statement once a year that tells you how much is in your pot and gives an estimate of how much you might get when you start taking your money. Many providers also let you track your pension on their website.
Can I close my pension and take the money out?
Cashing in your pension pot will not give you a secure retirement income. … To take your whole pension pot as cash you simply close your pension pot and withdraw it all as cash. The first 25% (quarter) will be tax-free.
What happens to my pension when I die?
The scheme will normally pay out the value of your pension pot at your date of death. This amount can be paid as a tax-free cash lump sum provided you are under age 75 when you die. The value of the pension pot may instead be used to buy an income which is payable tax free if you are under age 75 when you die.
Do I get my husbands state pension when he dies?
When you die, some of your State Pension entitlements may pass to your widow, widower or surviving civil partner. … Your spouse or civil partner may be entitled to any extra state pension you are entitled to if you put off claiming it when you reached state pension age.
How many years NI do I need for a full pension?