Bank of England is offering to help its staff pay for sex-change surgery that can cost more than £30,000
- Bank of England is offering to help its staff pay for sex-change surgery
- The ‘pelvic surgery for purposes of transitioning’ can cost more than £30,000
- Offering procedure through health insurance can speed up years-long process
The Bank of England is offering to help its staff pay for sex-change surgery.
It has told employees they ‘may be able to claim for the treatment of pelvic surgery for the purposes of transitioning’ under private medical insurance provided by Axa. Such surgery can cost more than £30,000.
Offering the procedure through health insurance could speed up a process that can take years on the NHS for people with ‘gender dysphoria’ – a sense that a person’s biological sex and gender identity are mismatched.
The Bank of England updated its policies on equality for transgender, non-binary and gender-fluid employees earlier this year.
The Bank of England is offering to help its staff pay for sex-change surgery. Pictured: The bank’s headquarters on Threadneedle Street in London lit up in blue, pink and white to mark Transgender Awareness Week
In guidance to staff, released after a Freedom of Information request, it said: ‘If you are transitioning, the Bank will aim to work with you to ensure that you feel supported in the workplace.
‘Transphobic abuse, bullying and harassment directed at individuals who are transitioning will not be tolerated and will be dealt with under the Bank’s anti-bullying and harassment policy.’
Banking giants Lloyds and Goldman Sachs have previously introduced policies to provide insurance to cover the medical costs of sex reassignment.
Prestigious law firms Clifford Chance and Linklaters have similar policies.
But the introduction of the policy at the 327-year-old Bank of England will lay down a marker in the City.
Its Governor, Andrew Bailey, last year approved the lighting up of its headquarters on Threadneedle Street in blue, pink and white to mark Transgender Awareness Week and The Mail on Sunday revealed last year that the Bank has three times more transgender staff than the average for the UK population as a whole.
City firms are offering an increasing variety of personal medical benefits to employees in order to attract and retain talent.
NatWest and British Gas are offering staff cut-price fertility treatment while TalkTalk is allowing women to claim the cost of menopause medicine on expenses.
The Bank of England declined to comment.