UK. Pensioners to protest at HSBC’s annual meeting
Sharon McGeough-Adams faces losing £200 a month from her HSBC pension and will protest at the bank’s annual general meeting on Friday to demand changes.
Having worked for the UK’s biggest bank for more than 37 years, she says it is money that could be put aside for other necessities, such as fuel.
The loss is caused by the bank’s move to reduce pension payments when the recipient receives state pension.
HSBC has said it would cost £450m to stop the practice for future payments.
Ms McGeough-Adams is one of 52,000 members of the pension scheme – technically the 1974 Midland Bank defined benefit pension scheme – whose company pensions will be reduced when they reach state retirement age.
A campaign group she helped form has requisitioned a vote at the annual general meeting (AGM) which calls for the bank to “abolish, or effectively remedy, the unfair discriminatory practice”.
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