Pensions hope for part-time women

Thousands of women working part-time who have no right to a pension may soon win millions of pounds in backdated benefits.

HSBC, one of Britain's biggest banks, has agreed to compensate such employees by backdating pensions benefits which would be equivalent to those on full-time employment, for any work at the bank since 1976.

The move could cost the bank £25million, and will help at least 2,000 claimants, who have been backed by the banking and finance trade union Unifi.

It could have huge implications for many other women who work part-time but who have so far been denied the right to a pension. The biggest impact may come in the public sector, where several government departments are now facing claims.

The settlement comes after a Lords ruling last year that backdated part-timers' pension rights in line with an earlier European Court of Justice decision.

Firms will now be watching to see whether big companies, who are fighting claims in employment tribunals, will follow suit.

Unifi is negotiating with other banks, including the Nat West, and Lloyds TSB, in the hope that they will also settle.