HSBC UK broadens retirement advice offering with addition of FundsNetwork Pension

HSBC UK has entered a new agreement with investment and retirement solutions provider, Fidelity FundsNetwork, to offer customers the FundsNetwork Pension.

With 1.22m of qualifying HSBC UK customers approaching retirement age, many of which are wishing to make full use of the pension freedoms that were introduced in 2015, applying for a SIPP will give them the freedom to choose and manage their own investments.

James Hewitson, Head of Wealth Management at HSBC UK said: "We know our customers are looking for greater flexibility with their retirement planning. They want to receive their retirement income and be able to pass on their wealth to future generations in the most tax efficient way.

"Fidelity has a strong reputation within the retirement space and the FundsNetwork Pension adds flexibility, quality and convenience for our customers and advisers alike. Coupled with investing in the technology our advisers use, we are helping customers to plan their retirement income more effectively."

Jackie Boylan, Head of Fidelity FundsNetwork, said: “We are delighted to be partnering with HSBC to meet the needs of both its advisers and their customers.

"The introduction of Pension Freedoms five years ago marked a significant opportunity to change the way in which people prepare for retirement and our Pension has been designed to offer value and choice to support them with their financial goals. We are looking forward to working with HSBC to provide better financial futures for our mutual clients."