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HSBC Introduces New Fertility Treatment, Surrogacy and Gender Affirmation Benefits

·3-min read

**Plus enhancements to fertility drug coverage, adoption and parental benefits**

VANCOUVER, British Columbia, August 10, 2022--(BUSINESS WIRE)--HSBC has introduced new and enhanced family-building benefits for Canadian employees including new coverage for fertility treatments, surrogacy and gender-affirmation.

Kim Toews, Executive Vice President and Head of Human Resources said: "These new and expanded benefits are part of our commitment to supporting a diverse and inclusive culture, where all employees feel they can be themselves at work and in their personal lives and are the result of our ongoing dialogue with employees around what benefits are most important to them."

  • Surrogacy Medical Benefit: up to a maximum $30,000 per lifetime for eligible surrogacy medical expenses incurred by a surrogate, on their behalf

  • Fertility Treatments: up to a maximum of $20,000 per lifetime for eligible fertility treatment expenses

  • Gender Affirmation Benefit: This benefit is intended to help our gender diverse employees embody their authentic selves providing additional financial support of $10,000 per year with a $50,000 lifetime limit for those treatments that are not covered by the provincial health programs.

Toews continued: "Offering gender affirmation benefits is a big step forward for HSBC Canada. Not only are we doing the right thing by supporting our trans employees, this also makes good business sense as we look to attract a diverse spectrum of employees to HSBC."

We’re also increasing coverage for the following existing family-building benefits:

  • Adoption: up to $10,000 per child towards the cost of adopting a child.

  • Fertility:: eligible drug expense claim up to $5,000 per year

  • Parental Top-Up Plan: If both parents work for HSBC Canada, maternity or parental top-up will be provided for both employees.

With a diverse and gender balanced board and executive committee since 2013 and approximately 45 per cent of our employees identifying as members of a visible minority, HSBC is a leader in diversity and inclusion. The HSBC Group was recently awarded Gold in Stonewall’s Top Global Workplace Equality Index, which recognizes organizations that have taken steps to advance LGBTQ+ equality across their global locations over the last 12 months.

Note to editors:

About HSBC Bank Canada

HSBC Bank Canada, a subsidiary of HSBC Holdings plc ('HSBC Group'), is the leading international bank in the country. We help companies and individuals across Canada to do business and manage their finances here and internationally through four businesses: Commercial Banking, Global Banking, Markets and Securities Services, and Wealth and Personal Banking. HSBC Group has committed to becoming net-zero in its operations and financed emissions and is working with our customers to accelerate the transition to a low carbon economy.

HSBC Holdings plc, the parent company of HSBC Bank Canada, is headquartered in London. HSBC serves customers worldwide from offices in 63 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,985bn at 30 June 2022, HSBC is one of the world’s largest banking and financial services organizations.

For more information visit www.hsbc.ca or follow us on Twitter: @HSBC_CA or Facebook: @HSBCCanada

View source version on businesswire.com: https://www.businesswire.com/news/home/20220810005560/en/

Contacts

Media enquiries to:
Sharon Wilks
(416) 868-3878
sharon_wilks@hsbc.ca

Caroline Creighton
(416) 868-8282
caroline.x.creighton@hsbc.ca