To ask you how much you save every month for your pension

[yousignup]

48, not in the UK but similar pension rules. Work part time so will qualify for percentage of state pension. Many years paid in, but no private pension. Mortgage almost paid off, hope to buy another place in a year or two with another mortgage, so basically my paid for house will be my pension pot. It's not worth a lot, but it's something.
Looking at UK articles about pensions, absolutely horrified to realise that for a modest payout at retirement time I need to be paying in approximately 900 GBS equivalent a month until I'm 65. No chance of employer matching any payment, would have to be private scheme.
AIBU to ask you how much you put away each month for your pension, and how old you are? Just thinking about my old age with a sick feeling in my stomach. Why didn't I start 30 years ago?

Ok, so at 45, I should be paying 22.5% in if I started now?

I pay 3% currently and was planning to bump it to 10%. Employer matches, but only up to... erm.

Only started when I was 29.
I pay 9% my employer pays 19%.

I am part time & don't plan to work full time again.

6% of my earnings, plus two private pensions should give me a luxurious few grand a year.
Luckily DH's pension is a good one from 55.
Downsizing should release at least £100k.
Mortgage will be gone in a couple of years.
We have properties and savings as well as received an inheritance recently.
Should be ok and hopefully able to help DC out.

Ok, so at 45, I should be paying 22.5% in if I started now?

Yes, that's right. Though the other general rule of thumb is to only put into a pension the minimum you need to get maximum contributions from the employer, unless you are doing it for tax reasons. And put the rest into an ISA where you have more flexibility with the money.

But yes, you need to save an awful lot to provide an income after you have stopped working. Approx £250k-£300k in savings would yield an income of £15k a year if you link it to inflation.

nil

£0.00

I put in 5% currently, employer puts in 10%. Have paid into a pension since i was about 23 and had first job after uni, am 35 now. Starting early does help I'm afraid. Husband has nothing at all mind...

Hugepeppapigfan is that nhs? I think that's what I do. If so did you sign up to the 2015 change or not?

Local government pension I have quite a few years in the final salary, (will be worth fuck all by the time I retire)

Other than that nothing, DH and I were discussing how screwed we will be. Once both children are in school full time and I'm paying for wrap around care only I will start saving and investing money.

Also we have the house which we will sell/downsize etc.

I pay £80 a month into a private pension. I have a final salary NHS one and an investment property.

DH's is much bigger than mine. He is SE so uses the tax relief he gets by paying anything that would fall into high tax bracket into a pension instead.

£320 a month into a Stakeholder pension (£400 after the 20% tax back). Hoping it's better than nothing.

I have a small (but guaranteed) final salary pension from some years back, but I'm currently on a fairly low self-employed income. DH will also have something.

Have just booked a first session with a financial advisor.

10% of salary

Dribs and drabs. We don't have a pension scheme at work - though we stage this year, the company will only pay the minimum - 1%. It sucks. I need to find a job I like and will stick at with a good pension.

I have some cash savings though not nearly enough.

My current employer pays in 13 percent and i do 5.. i looked a job the other week where they only paid in 3 %!

None. Dh and I relying on property. We can't afford to save anything at the moment.

I pay in 5.5% or about £8 a mth (earn £150ish a mth). My employer pays in around £40 a mth! A lot of my direct colleague's don't pay in, declaring it not worth it on such a small wage. I don't think they realise what they're missing out on. If I die during my employment my dh will also get a lump sum payout and I think a pension of some sort. It certainly won't be mega bucks but every little helps!

I pay 13.5%, employer pays 14.3% (NHS).

I pay about 300 quid a month into a private pension.

I don't expect much from it. My tenants are going to have to pay for my old age.

DW has an excellent work pension.

Fecking hell. NHS. 14.3%. I know you work hard but so do a lot of the private work force. 2% is all we get. 14.3%??? Feck!

About £500pm from me and £500 from employer. I'm 30 and have been paying in since 21 however has increased in line with income over the years.

Hahahaha save.

Nothing, and it terrifies me. OH's workplace just started the scheme last month but its a pittance.

If my career aims pan out we're golden, and plenty of time to worry about it because I'm young. But it still scares me that I have no way to save, no way to buy property, and no inheritance to wait for.

I have zero. DH pays in 6% of net, the company matches that. But we have had to draw Down from it a couple of times. Don't know how much is in there. I'll start one if I get a job soon

I cannot believe the number of people on this thread whose employers pay more than 10%. The highest employer contribution I ever got (private sector) is 10%. I assume any more must be public/govt sector?

I'm in a public sector pension scheme and my employer has never paid more than 10%. It has been 10% in the past when I put in 5% and it was 7.5% each for a long time, I think it's about 6%/9% me/them now - it's always been a total of 15%

Yes, I will get a decent pension, but a lot of money (well over £250k plus up to 48 years of investment time - I started when I was 19 and will receive some of the pension when I am 60 and the rest at my retirement age whenever that is - 67?) has been put in by me and my employer and it's always been compensation for the fact that for what I do salaries are significantly lower than the same job in the private sector.