Bank of England will help staff to cover sex-change surgeries 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 will pay its employees for sex change surgery.

The company informed employees that they may be entitled to treatment for pelvic surgeries for transition purposes under Axa private medical insurance. 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.

This year, the Bank of England made changes to its policies concerning equality of transgender, gender-fluid and non-binary workers.

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

Bank of England offers to pay its staff for sexchange surgery. Pictured: Transgender Awareness Week is celebrated at the bank’s Threadneedle Street headquarters in London.

It released guidance for staff following a Freedom of Information Request. The Bank stated that if you are in transition, they will work closely with you to make sure you feel at home at the office.

Transphobic bullying, harassment and abuse directed towards individuals transitioning to independence will not be tolerated. The Bank will take appropriate action under its anti-bullying policy.

Goldman Sachs and Lloyds, two of the world’s largest banks, have introduced insurance policies that cover medical expenses for sex reassignment.

Clifford Chance, Linklaters, and other prestigious law firms have policies similar to theirs.

However, the Bank of England policy will mark a significant milestone in the city’s history.

Andrew Bailey, the Bank’s Governor, approved lighting Threadneedle Street headquarters in blue, pink, and white last year to celebrate Transgender Awareness Week. The Mail On Sunday reported last year that The Bank employs three times the number of transgender workers than the UK overall.

To attract and keep talent, city firms offer a greater variety of medical benefits for employees.

British Gas and NatWest are providing staff with low-cost fertility treatment, while TalkTalk offers women the opportunity to pay for menopause medication on their own expense.

The Bank of England did not respond to our request for comment.