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Pension contributions

(10 Posts)
yummycake123 Thu 19-May-16 13:07:43

Can I ask how much people contribute towards their pension?

At the moment, I only contribute 3% of my salary (my employer contributes the same amount, so at the moment, I'm putting about £220/month in my pension pot). It's a SIPP.

I'm 42, and we only have my salary at the moment, so I'm prioritising having money to live now rather than putting more in my pension. But my pension fund is looking pretty crap. I think I've convinced myself I will have to work forever...

Wuffleflump Thu 19-May-16 14:26:03

5% via payroll, matched 10% by my employer.

Until recently I was also paying into a stakeholder pension I started in a previous job that had no pension provision, but kept paying into anyway at about 2.5%, but I have since stopped and put that money to a house deposit instead.

Started stakeholder pension about 23, about 10% of pay at that time. Now 33.

But expecting I will have to take a break to have a family at some point.

gininteacupsandleavesonthelawn Thu 19-May-16 14:29:04

6% me, 6% employer

ChessieFL Thu 19-May-16 21:30:10

I pay 6.8% standard contributions plus 1% additional voluntary contributions. Employer pays about 14% (public sector).

yummycake123 Thu 19-May-16 21:49:10

Some of you have really good employer contributions! And I thought I had a good deal, eeek! I'm hoping that once DH finds a job and we are in a better situation financially, I will be able to top up my pension.

concertplayer Thu 19-May-16 21:50:35

There is of course the State Pension (if it still exists) You can get a
forecast by contacting Dwp It seems you have a partner not working
He/she may be able to get NI credits towards the SP if has caring
responsibilities Dwp will help

trashcansinatra Thu 19-May-16 22:44:54

7.35% me, employer ~17% but salary based not pension pot so not quite the same.

thisisbloodyridiculous Mon 23-May-16 22:28:26

I'm self employed so no employer contributions .. currently paying in 120/month but hoping to up that considerably in a few years time!

SueDunome Mon 23-May-16 22:31:03

3% me, 13.5% employer. Group personal pension.

concertplayer Thu 26-May-16 20:18:42

a FA advised you/your employer need to be paying in 20% per annum
minimum but of course it depends how much you earn.
Someone in a Final salary scheme ending up on 18k at the end of
a 40 year working life would get 12k per annum pension with
20% contributions .
The problem is these schemes are now far and few these days
so not good news

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