HSBC: Pensions - Question to Department for Work and Pensions

Jared has asked the following question 'To ask The Secretary of State for Work and Pensions, what estimate she has made of the cost to the public purse of any additional state benefits claimed by HSBC/Midland Bank pensioners as a result of the clawback of their occupational pension.'

This was asked on 9/01/2018.

Guy Opperman responded with 'The Government does not currently collect this data. Information on the number of banks and building societies that utilise a pension integration or “clawback” feature on their occupational pension is not collated centrally and could only be provided at a disproportionate cost.

No estimate has been made of the cost to the public purse of the longstanding practice of private pensions operating integrated pension scheme arrangements.'

This was received on 16/01/2018.

Jacob Millen-Bamford