Random Q but how much do you put in your pench each month

[TheIcyAquaFawn]

On normal salary 37k

See, I was right. Pench is the new Chillax.

About 28% between myself & employer.

Into my ‘pench’? Money?

I have a civil service defined benefit pension so employer contributes just shy of 29% and I contribute 7.35% which is around £400 per month. It was a lower contribution when I earned less. Should have 40yrs service if I work until 67.

"pench" I was wondering what the typo was and expecting to see a correction from you. But it's not a typo.

I save about 10% into pension including mine/employer contributions . I also buy ETF’s every month to about 5k annual. I hope to retire early 60’s, but I guess it will depend how the stock market does. We were never encouraged to save. Everything saved earlier has the potential to compound and grow. We should all be taught this rather than algebra at school

Completely agree, the sooner you understand savings and pensions the better, a proper life skill unlike 80% of what’s covered in Maths lessons.

I just put mad skrilla into my pench.

earning that amount I used to put in the minimum, think it’s 6% and employer contribution is the same. Now I put in 13%.

I’m in the civil service too and the same contribution %s. I’m on the Alpha pension which is career average. I should get a very comfortable pension unless it all changes before I retire (which definitely could happen).

I pay 21% in from my payslip and about 7% in a SIPP because I was in my 40s when I started paying.

I don't mind 'pench' as it hopefully indicates a young person and if a young person is thinking about this then they are a giant leap ahead of me.

How busy would you have to be to say ‘pench’ instead of ‘pension?’ 🙈

I don't see the point in asking what others pay into their pensions, as everyone's circumstances are different.

You should pay in as much as you can afford to, especially if you're young, as there's no guarantee that state pensions will be a thing in 20-30 years time.

Having said that, I agree with everyone else that the word 'pench' is diabolical. I hate any bastardisation of the English language.

I had a meeting with my pensions advisor last week. I put around £1000 per month in and we have upped the risk to a 7.5/10. I’m still fairly young (he said) that I can have a higher risk. If I was older I’d keep that around 6. I also put any extra lump sums such as bonus’ in and when I get pay rises I tend to increase my contribution there too. I don’t want to have to work forever ☺️

Always with this. Did you not learn percentages in maths then?
interest, percentages and compound interest are on the curriculum.

No idea what this means but it made me laugh.
Pench is one of the most irritating words I’ve ever seen on here!

Yes my pension looks great. Civil service pension definitely a very good pension. I have Alpha and classic.

I would have thought auto correct did it for you. Pension - yes it does as soon as you type pen.

🤣

Don't be such a silly wench,
Take a moment to unclench.

Don’t you mean the ‘Eng-lang’ 😂😂😂😂

🤣

“Pench” was….ok.

“Mad skrilla in my pench” was much better, sorry OP you got outdone in your own post! Ouchhhhh!

Mad times!

This is definitely a young journalist trying to appear like they know what they’re talking about.

You’re so kind ❤️