The Work and Pensions select committee has vowed to continue to monitor a reduction in benefits received by some pensioners of the HSBC Bank (UK) Pension Scheme.
In letters to two Conservative MPs, Frank Field, the committee's chairman, said it would be "most welcome" if the bank reviewed the effect of its clawback policy.
Clawback was introduced in the 1940s and allowed workers to pay lower contributions into their occupational pension plans. It also allows employers to deduct some - or all - of the basic state pension amount from their pension payments.
The state deduction feature became part of the rules of HSBC Midland Section of the scheme in 1975 and applied to benefits accrued before 1 July 2009.
Sir Mike Penning, MP for Hemel Hempstead, and William Wragg, MP for Hazel Grove, wrote to Mr Field expressing concern about this practice.
Mr Field said HSBC should "examine how best to mitigate this, as a gesture of appreciation to the dedicated and long-serving bank staff, often on low pay, whose work contributed to the company's profitability over decades".
Several members of the scheme have said this clawback feature was not adequately communicated to them.
Mr Field said the communication measures taken by the bank were "largely insufficient, given that many loyal and long-serving bank staff are evidently only now discovering with surprise and dismay how their retirement incomes are affected".
The Labour MP said he had written to Russell Picot, chairman of the HSBC Bank Pension Trust, about this issue but he had been unable to quantify how much the pension scheme saves through applying clawback.
Mr Field said: "I have since learned that the cost of cancelling clawback has been estimated to be in the region of £400-500m.
"While this is not an inconsiderable sum, it may be viewed in the context of HSBC's latest reported annual after-tax profit of $11.9bn (£8.6bn)."
But Mr Field added that the committee has no plans to conduct a full inquiry on this matter.
maria.espadinha@ft.com
