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

[TheIcyAquaFawn]

On normal salary 37k

Lol pench
I put in 6% and employer puts in 6%. Ive just upped my contribution to 10% for this year though but employer stays at 6% as this is their max contribution.
My last employer double matched up to 10% so it was me 10% and employer 20%. I always put at least the max for employer matching.
I am looking at jobs atm and pension matching and doubling is a main benefit I am looking for if I move roles as I am mid 40s and want to retire early.

I’m 42. I put in £700 pcm and employer £1,000 pcm. I’d like to retire at 60. Doesn’t feel likely, but good to have an ambition.

Its a stupid question because it doesnt tell you anything about the size of the potential pot of money at retirement, which is the only thing that matters in the end, rather than a snapshot %.

I put nothing in now as early retired and my amount varied between 6% and 50% throughout my working life.

I actually quite love pench.

Id be paying more in AVCs if you can afford to ... avoid some of that 40% tax and up your pension.

I just had a look at my pench, its looking pretty hench at the moment.

I don’t mind pench. It’s good that people are interested and talking about them.

I pay in 25% in total - 15% from employer and 10% from me. It’s only been in the last few years that I’ve upped my contributions. The impact of the compounding is now really noticeable though, when I check my pension account.

My tip for defined contribution pensions is don’t assume the default fund option is the right one for you personally. They are often too low risk for people who expect to be working and contributing another for ten years or more. Do your research - a couple of hours online - and review your options.

Skip the lunch
Feel the clench
Save your coins
For the Pench

Even if you are french
And sitting on a bench

I’m self employed. I pay about 15% of my take-home salary into my pension. .

Work for years, in the trench
Lots of stress, lots of tench
Then give HR a formal mench
"I am off, going on my pench"
Then don't give work anymore attench

I love pench 😆. I pay 20% into my SIPP. Self employed but started pench contribs later in life so trying to catch up.

😆

Earn in top 5% of UK salaries. Put in 13% across employer (auto enrolment) and private pensions. Employer pays in around £110 per month which is the legal minimum for someone earning over approx 50k (it's 3% of the money earned between the lower and upper earnings thresholds but around 1% of my actual salary). Those of you on auto enrolment do make sure you check whether your employer is paying 3% of everything or just 3% of your earnings above 6k and below 52k. Auto enrolment thresholds are not well publicised in my view.

Allow it fam.

😂😂

I stash a lil spondooley chaque payday, need the dough for the lean times, don’t flex much either. Brah.

I thought this was going to be another little rap.

Gutted

Me too. In my mind, it is like a financially savvy version of 'hench' - " He is just so pench!"

Soz.

Stop trying to make pench happen

My pench is pretty peng. At 20% going in (mainly to make up years of under paying)

This made me snort 😂

Is this the poster who didn’t want to contribute to the ‘soch’ earlier ?

soch? I can't work that one out.

I am retired with a Teachers' Pension so I have nothing useful to say. I'm only here for the comments on Pench.