Business of the House

Jim Cunningham Excerpts

Thursday 30th November 2017 Commons Chamber

[Mr Jim Cunningham (Coventry South) (Lab)]

Can we have debate or statement, or—better still—will the Leader of the House have a word with the Work and Pensions Secretary, about HSBC’s pension clawback? Employees in HSBC Midland Bank’s defined benefit occupational pension scheme believe that they were not adequately made aware of the clawback feature. Clawback reduces the bank’s pension contribution when the basic state pension becomes available. This means that many staff were denied the opportunity to make additional financial plans for their retirement. Other banks have not applied, or have since withdrawn, this scheme. Will she do all she can to help us with this situation?

[Andrea Leadsom]

This issue has been raised before in business questions, and a couple of constituents have also contacted me about it. It is a matter of concern that needs to be looked into, and I encourage the hon. Gentleman to seek an Adjournment debate.