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Original poster

How much pension do you have?

16 replies

pensionpot · 03/08/2019 20:00

I've been saving into my pensions for the past 10 years, aged 34 now. Looks like I won't be able to reach my pension target and I'm panicking.

Any tips for saving for a pension?

OP posts:
Skittlenommer · 05/08/2019 20:36

Don’t have children. You can then save a huge amount of your income.

JustTwoMoreSecs · 05/08/2019 20:45

What is your target? I haven’t contributed much earlier on unfortunately so am trying to maximize contributions now. We keep lower mortgage repayment than we could afford and put the difference in the mortgage, same for our lifestyle, we keep it simple, no car, less holidays than we could afford...

OneRingToRuleThemAll · 05/08/2019 21:18

I have a local government career average pension, projected to about £20k. No tips other than don't opt out.

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Lovelydovey · 05/08/2019 21:21

You’re only 34 - there’s still time! As well as saving a regular amount, tuck away what you can when you can. It will all add up over time.

What are you hoping to have as an income in retirement, and how much are you saving each month now?

SleepForTheWeak · 05/08/2019 21:23

Following out of interest.

I'm in my early 30s and only started a pension through work - I only work part time so have pretty much nothing.

My husband has a bigger one than me but not huge. I do worry about it.

Jackyjill6 · 05/08/2019 21:57

You have time OP, what is your target?

Oblomov19 · 05/08/2019 22:03

I worry about mine. I've worked party time for so many years. It's going to be pitiful! Sad

megletthesecond · 05/08/2019 22:05

Are we meant to have a target? Blush

chocolateworshipper · 05/08/2019 22:29

We are aiming for a joint pot of £1M. Neither of us have a final salary pension.

Sparklyring · 05/08/2019 22:33

We're aiming for 500k between us. Early 30s but once mortgage is paid we should be able to do it.

ErrolTheDragon · 05/08/2019 22:43

Any tips for saving for a pension?

Do as much as you can, as soon as you can (though not by incurring other debts), check you're in appropriate funds for your risk profile (generally need safer options as you get closer to retirement) and check the charges.

Nat6999 · 05/08/2019 23:19

I was lucky, joined the civil service when there was still a final salary non contributory pension scheme. I got my pension in 2012 due to ill health & it's a good amount that when I get to state retirement age with my state pension will mean a fairly good standard of living for me.

Cailleach · 06/08/2019 04:34

Nothing.

MaybeitsMaybelline · 06/08/2019 04:55

Mines at about 300k, age 53, been in it since 19. I am putting AVCs into it now so a 21% contribution, my employer is putting in 13%

I don’t expect to be working at 60.

Bluesheep8 · 06/08/2019 05:46

Nothing. Or more accurately very little. I can't see that I'll ever be able to retire tbh.

Original poster
pensionpot · 09/08/2019 20:41

Not sure what my target is to be honest. I've got 100k in pension pot now but don't know if that will be enough

OP posts:
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