To ask His Majesty's Government whether they knew in November 2025, when Hive Energy Ltd secured a £60 million loan from HSBC guaranteed by UK Export Finance, that it was close to bankruptcy; who authorised the loan on behalf of His Majesty's Government; and what due diligence was performed in connection...

To ask His Majesty's Government whether they knew in November 2025, when Hive Energy Ltd secured a £60 million loan from HSBC guaranteed by UK Export Finance, that it was close to bankruptcy; who authorised the loan on behalf of His Majesty's Government; and what due diligence was performed in connection...

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, whether she has made an assessment of the merits of holding an inquiry with HSBC and Standard Chartered on the withholding of the Mandatory Provident Fund from Hong Kong BNO visa holders.

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, whether she has made an assessment of the merits of holding an inquiry with HSBC and Standard Chartered on the withholding of the Mandatory Provident Fund from Hong Kong BNO visa holders.

To ask the Chancellor of the Exchequer, what assessment she has made of the potential implications for her Department's policies of the report by ActionAid UK entitled Who Pays the Price?, published in April 2025.

To ask the Chancellor of the Exchequer, what assessment she has made of the potential implications for her Department's policies of the report by ActionAid UK entitled Who Pays the Price?, published in April 2025.

To ask the Secretary of State for Work and Pensions, whether her Department is taking steps to (a) provide guidance to, (b) help seek redress for and (c) otherwise help support people affected by HSBC historically deducting a portion of its workers' occupational pensions when they reached State Pension age.

To ask the Secretary of State for Work and Pensions, whether her Department is taking steps to (a) provide guidance to, (b) help seek redress for and (c) otherwise help support people affected by HSBC historically deducting a portion of its workers' occupational pensions when they reached State Pension age.

To ask the Chancellor of the Exchequer, with reference to the document entitled HM Treasury: Ministers’ Hospitality - January 2025, published on 27 February 2025, whether the she discussed the foreign influence registration scheme in relation to China with (a) the China Council for the Promotion of International Trade and...

To ask the Chancellor of the Exchequer, with reference to the document entitled HM Treasury: Ministers’ Hospitality - January 2025, published on 27 February 2025, whether the she discussed the foreign influence registration scheme in relation to China with (a) the China Council for the Promotion of International Trade and...

Agreed to on question.

Agreed to on question.

Pension funds hold not just financial value but moral weight. How we treat our pensioners, and how we invest in the future of the hard-working people of this country, says everything about the kind of society we are. I want to bring to the House’s attention one of the most...

Pension funds hold not just financial value but moral weight. How we treat our pensioners, and how we invest in the future of the hard-working people of this country, says everything about the kind of society we are. I want to bring to the House’s attention one of the most...

I have a constituent who has worked for 44 years at Midland bank and HSBC. They were promised a pension of two thirds of their final salary, but they now face a 16% cut—that is over £1,700 per annum—because of the so-called state deduction. They were never told that the...

I have a constituent who has worked for 44 years at Midland bank and HSBC. They were promised a pension of two thirds of their final salary, but they now face a 16% cut—that is over £1,700 per annum—because of the so-called state deduction. They were never told that the...

I fully agree. The term itself is misleading. The money is not being taken by the state; it actually goes back to HSBC. Had it been labelled properly, as an integrated pension deduction, many people would have asked questions much earlier.

I fully agree. The term itself is misleading. The money is not being taken by the state; it actually goes back to HSBC. Had it been labelled properly, as an integrated pension deduction, many people would have asked questions much earlier.

I thank my hon. Friend for securing the debate. Sue, a constituent of mine, is trying to obtain her full HSBC pension, but because of a clawback deduction by her former employer that has no alignment with the salary she earned, she is losing out on £244 each month. That...

I thank my hon. Friend for securing the debate. Sue, a constituent of mine, is trying to obtain her full HSBC pension, but because of a clawback deduction by her former employer that has no alignment with the salary she earned, she is losing out on £244 each month. That...

Absolutely. I will ask the Minister to take action later in my remarks.

Absolutely. I will ask the Minister to take action later in my remarks.

My constituents Phil and Ann have contacted me about the so-called clawback policy, which would see them lose about £2,000 a year from their pensions when they reach state pension age. They, like many former employees, believe that this is an unfair and morally questionable approach. Does the hon. Lady...

My constituents Phil and Ann have contacted me about the so-called clawback policy, which would see them lose about £2,000 a year from their pensions when they reach state pension age. They, like many former employees, believe that this is an unfair and morally questionable approach. Does the hon. Lady...

Yes. The hon. Member makes a good point.

The lack of transparency allowed this policy to persist under the radar. The formula used is regressive and unfair. For a start, the deduction is based on the full state pension rate one year before retirement, not on salary or actual state pension...

Yes. The hon. Member makes a good point.

The lack of transparency allowed this policy to persist under the radar. The formula used is regressive and unfair. For a start, the deduction is based on the full state pension rate one year before retirement, not on salary or actual state pension...

Former Midland bank and HSBC workers who had a defined-benefit pension saw deductions from their pension entitlement at state pension age, to take account of the payment of the state pension. Those deductions had no link to salary or pension received. Lower-earning staff members, mostly women, were particularly affected, including...

Former Midland bank and HSBC workers who had a defined-benefit pension saw deductions from their pension entitlement at state pension age, to take account of the payment of the state pension. Those deductions had no link to salary or pension received. Lower-earning staff members, mostly women, were particularly affected, including...

Yes, the practice is a relic from the past and needs to be abolished.

Women have historically occupied lower-paid roles at Midland bank and HSBC. They have taken career breaks to care for children or elderly parents, or have been placed on new contracts with clawback attached—often without being told the...

Yes, the practice is a relic from the past and needs to be abolished.

Women have historically occupied lower-paid roles at Midland bank and HSBC. They have taken career breaks to care for children or elderly parents, or have been placed on new contracts with clawback attached—often without being told the...

A female constituent of mine who has worked for HSBC UK for over 35 years has seen her pension reduced by approximately £850 a year because of a clawback clause that she was never properly informed about when she joined the bank’s defined-benefit scheme. Does the hon. Member agree that...

A female constituent of mine who has worked for HSBC UK for over 35 years has seen her pension reduced by approximately £850 a year because of a clawback clause that she was never properly informed about when she joined the bank’s defined-benefit scheme. Does the hon. Member agree that...

I thank the hon. Member for that valuable point. I have a message for HSBC later in my remarks.

Campaigners have presented robust evidence, including research by the University of Exeter, showing the disproportionate impact on women and low-paid staff. One of the recommendations in the University of Exeter report is...

I thank the hon. Member for that valuable point. I have a message for HSBC later in my remarks.

Campaigners have presented robust evidence, including research by the University of Exeter, showing the disproportionate impact on women and low-paid staff. One of the recommendations in the University of Exeter report is...

My Wellington constituent, Mike, who is a former Midland bank employee, has seen his pension go down in value by 13% because of the failure of HSBC to honour its obligations. He tells me that the state—in other words, the taxpayer—will be making up some of his income as a...

My Wellington constituent, Mike, who is a former Midland bank employee, has seen his pension go down in value by 13% because of the failure of HSBC to honour its obligations. He tells me that the state—in other words, the taxpayer—will be making up some of his income as a...

My hon. Friend is absolutely right. It is unfair and we need to ensure that HSBC is accountable.

In correspondence with MPs, the bank states that because clawback is lawful, its policy is acceptable, but I say: lawful does not mean just. This Parliament has a duty to act when the...

My hon. Friend is absolutely right. It is unfair and we need to ensure that HSBC is accountable.

In correspondence with MPs, the bank states that because clawback is lawful, its policy is acceptable, but I say: lawful does not mean just. This Parliament has a duty to act when the...

I commend the hon. Lady for securing the debate. The fact that there are so many hon. Members in the Chamber is an indication of the interest that she has created through her Adjournment debate, so well done to her. There were an estimated 12.95 million state pensioners in Great...

I commend the hon. Lady for securing the debate. The fact that there are so many hon. Members in the Chamber is an indication of the interest that she has created through her Adjournment debate, so well done to her. There were an estimated 12.95 million state pensioners in Great...