Deborah has also worked for HSBC since 1978, with some of her service part time before she recently retired, but was never told that her pension was part of an integrated scheme.
She advises “I was told it was a non-contributory, final salary scheme that would provide me with a 2/3 final salary pension on retirement.
None of my contractual paperwork either from then or from my part-time contract mentions or explains the integration. Integrated pension schemes indirectly discriminate against the lower paid staff and are therefore grossly unfair”.
Deborah’s pension before taking any lump sum upon retirement was just £ 4457 per annum. She has been advised she will lose £ 1,545 upon reaching State Retirement Age. That is a massive 35% of her promised pension after 39 years of loyal service.