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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

To ask how much is in your pension pot and your contribution %

213 replies

Vistada · 19/03/2024 11:38

Just that really?

I'm starting to put a lot of thought into my pension (something that in my 20s I thought just ticked over) but its difficult to get a good gauge of what one should have saved.

WIBU to ask (if you're happy to share) your age, salary, pot size and what you contribute per month in %?

Me: 33, £23k pot, £55k PA (only recently) and joint 13%

OP posts:
Wishlist99 · 19/03/2024 12:04

Age 47 £500k in retirement savings (ISAs which I won’t touch and pension). Won’t be able to pay any more in until I retire so this is it - need to focus on paying down massive mortgage now interest rate above 1%.

VapeVamp12 · 19/03/2024 12:04

38 on £40k a year
I have about £90k in my pot.
Not sure what I pay in % tbh, but it's not a lot. Reading these replies I think I should look at increasing it.

Turmerictolly · 19/03/2024 12:03

I think for anyone under 40 today, the state pension age is likely to rise to 70. I drum it into my dc that the state pension won't exist by the time they reach retirement age so they need to pick a career carefully so they can fund and manage older age.

massistar · 19/03/2024 12:02

Early 50s. 450k between work pension and SIPP. Employer puts 10% and I put 5% which is the maximum. I'm hoping to retire at 60 or at least cut back. I put anything over basic tax rate and all my bonuses into my pension. Only just at a decent salary now I'm full time so hoping to get a fair bit in over next 10 years. The pot required for a comfortable retirement is scary.

Toooldtoworry · 19/03/2024 12:00

46
Pensions = £55467
Putting in £378 currently, but increasing to £978.59 inc tax shortly as want to retire at 60.

Waitingforgeorge · 19/03/2024 11:59

In my early 50’s, after taking a (very) long career break to look after my dcs, I returned to work. I put all my earning into my pension. We survived without my earnings whilst I was a Sahm, so no difference. £240k so far, hope to double that before retirement.

FirstFallopians · 19/03/2024 11:56

I’m 35, took 3 years off with babies and have only now started to take my pension seriously.

I have £7k in my pot, and combined contributions of 12%. I’m on an average wage, less than £30k PA.

Having done the calculations, I know I will have to work until the state retirement age. At that stage I would be comfortable, especially with no mortgage, but there will be no early retirement to look after grandbabies for me!

Thankfully DH has a very good pension and he’s also entitled to a more generous state pension (not UK). We just can’t ever split up.

I’d kick myself for not looking at it more seriously when I was younger, but I’m just glad I’ve addressed it now instead of waiting until 40 or 50 and panicking then.

MarmaladeOrangey · 19/03/2024 11:56

I was a SAHM and also working low paid part time work throughout my life. I'm 50, pension pot 30k (crap!) I am now paying in 35% and company 12% (I'm considering going to 45%). This should get my pot to about 250 by the time I'm 60. I really don't want to work till 68 especially in the job I'm doing, its managerial but also physical.

socks1107 · 19/03/2024 11:56

I can't afford too, I had to stop the payments two years ago thanks to col and haven't been able to restart. I have a good job with the national average in wages and zero debt. It's so unfair but it's likely I'll be in my 70s anyway when I can retire so feel there's time

SallysLeftCheek · 19/03/2024 11:52

There is no such thing as "retirement at age X".

Retirement is a financial status.

It's long been that way in the UK.

Age: 39
Income: 85k/year
Contribution level: about 20% (my contribution plus my employer's)
Pot size: £321k

My spouse doesn't work though, so my retirement planning has to cover us both. It's not enough.

Poachedeggavocado · 19/03/2024 11:48

I'm in my early 50s so getting a bit worried. Recently went through the tedious task of finding all my pensions and seeing what was in them.

I have a pot of about £150k which apparently is not enough to live on by far if I want have a comfortable retirement so I'm upping the payments on my current pension to as much as I can to about 15%. Means cutting down on lots of other spending on clothing etc. I also checked my state pension contributions and found I'm nearly up to the 35 years required. Govt will probably up the retirement age before I get there though, so basically I don't ever see me fully retiring unfortunately.

Floofydawg · 19/03/2024 11:47

Mid 50's, £450k pot in total. I pay 7% in and my employers pay in 9%. Sounds a lot but it's not enough given I'm fucking tired of working.

Kwasi · 19/03/2024 11:42

I was in my 30s and living abroad when pension contributions became mandatory. I was early 40s by the time I started one. I have managed to put in £10k in 5 years but now I am not managing £100 a month (including employer contributions) as I work part-time at the moment. I am retraining in a new field, so once qualified, I hope to get a public sector job and go full time when DS is a bit older.