To be nosey and ask how much you pay into your pension?

[Popc0rn]

I have only had a pension for the last few years since I started working in the NHS. From the start, I have paid 7.1% of my salary towards my pension every month, and have just had a pay rise, so will be paying in 9.3% from now on. This will be about £200 per month, it was about £140 before (it varies every month as my monthly pay varies depending on how many nights and weekends I do). The contribution rate that the NHS pays was 14.3%, but this has been increased to 20.6% from the 1st of April 2019 (which seems like a big increase to me, but I'm not complaining!)

I'm just curious nosey as to how much other people in different jobs pay towards their pensions, and how much their employers contribute?

[makingmiracles]

Dp pays 4% his employer pays 6%
NHS is probably one of the best pensions out there tbh, a small pay back for the long often unsociable hours and hard work.

[PeachyPrincess]

I’ve just been playing around with this and I’m going to increase mine. Currently 6%

www.pensionbee.com/pension-calculator

[Stroller15]

I pay 8% and my employer 16%.

[NeverTwerkNaked]

I pay 7% and my employer pays 16 %. (Public sector).

[CarDaze89]

I pay into my work pension and my employer adds free money.
I also know how many years I have paid into for my state pension, how much I'm estimated to receive and when I will receive it

[79problems]

Isn’t the question not what you/your employer put into it, but what you’ll get as a % of your salary once in retirement?

In the local authority pension scheme, whatever the % rate you or your authority put in, for every one year of paying you get 1/49 of your salary (as it was that year) back in pension.

I’d be interested to know how that compares to the NHS? And indeed private companies?

[DinoGreen]

Ha at all the ridiculous public sector replies so far. In the private sector I pay 5% and my employer pays 5%. That’s been the maximum employer contribution at all the places I’ve ever worked. Some didn’t contribute at all (this was obviously before auto enrolment).

[florence11]

9.3%, guess where I work!

[2015newstart]

@79problems that scheme sounds like a defined benefit / final salary pension. They're quite rare now - if you're lucky enough to be in one hang onto it! They work completely differently from defined contribution, which most people have.

[HunnyCaramel]

Fck all. Been self employed and lived hand to mouth, needed to contribute 200/mo years ago - LOL! Not happening.

[origamiunicorn]

I pay 4% my employer pays 18% (public sector)

[Brown76]

Self employed here, has been nothing for years, couldn’t afford it/was having kids but now going to start with £400 a month which because I’m over 40 wont buy me much pension. But I hope that I might be able to eke out a living with a mixture of pension, downsizing, state pension and doing a little bit of work forever (don’t think I’ll be able to retire). Also worked for private sector who didn’t pay much so entire retirement pot up to now is about 20,000 (which will get, like, £500 a year in old age).

[sighrollseyes]

University pays in 22% increasing to 24% in 2020.

[RiddleyW]

God these are amazing employer contributions- mine is woeful 😩

[Iwantmychairback]

Amazing contributions by your employers.
Mine pays in the legal minimum of 3%.

[MaybeitsMaybelline]

I put in 21% and employer 13%, which totals just over a grand a month.

However this is recent, I’m 53, been in my pension scheme since 19, have paid off the mortgage and am trying to increase my pot for the last 7-8 years.

Most of my working life I have put in 9% and employer 7.5% I think. Or maybe it was the other way round?

[MaybeitsMaybelline]

That’s working for a large corporate, which was once many years ago public sector before privatisation.

[AloneLonelyLoner]

I don't know why I open these threads, it just makes me depressed.

[topcat2014]

Agree with PP. Most private sector employers will be on 3%, with 5% employee minimum coming in this month.

And defined contribution,

So, you save £100k to get about £6k per year, with the remainder going to the pension fund if you die before 15 years.

[Lovelydovey]

I’ve got a career average non-contributory pension and my employer puts in around £35k pa. I have a separate pension that I save £150 per month in. I also save £100 per month for each of my children.

[LellyMcKelly]

Amazing pension contributions yes, @ridley, but that’s offset by mediocre pay given how qualified many of these people are.

[SimonJT]

I pay in 21% of my salary and my employer pay in 12.3%.

[8FencingWire]

79problems, the NHS is 1/54 for every year in employment.

[RiddleyW]

I need to sort my pension out really. I have a lump sum coming my way so might dump some in then.

[stucknoue]

It's going up to 3% by employers (law) this year so no pay rise the real world is pretty harsh. I put in 5% this year