Local MP Julian Knight has renewed his commitment to the fight for justice for pensions affected by the Midland/HSBC clawback scandal.
At a meeting of the All-Party Parliamentary Group (APPG) dedicated to the campaign he has signed up once again to serve as Vice-Chairman. The APPG brings together MPs from across party lines to campaign for change.
The clawback campaign seeks justice for more than 50,000 employees who joined the Midland Bank – now part of HSBC – between 1975 and 1996. Their pensions are subject to a ‘clawback’ which has substantially and unfairly reduced their retirement income.
Following pressure from the Midland Clawback campaign, HSBC’s pension arrangements are now being scrutinised by the Equality & Human Rights Commission. Campaigners have also crowd-funded almost £60,000 to help defray their legal expenses.
Commenting on the announcement, Julian Knight said:
“I am very proud to serve as an officer in the Midland Clawback APPG, and look forward to continuing to work with colleagues from all sides of the House of Commons to fight for the rights of my constituents and ex-Midland employees across the region.
“It isn’t right that HSBC, a huge and very profitable international bank, is squeezing long-serving employees out of their pensions. Many of these people gave the Midland Bank decades of loyal service, and they have the right to live independently and with dignity in retirement.”