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?

I pay 9%, employer pays 19%. That includes additional voluntary contributions of 1% which my employer matches. I lived overseas for a long time so didn't start paying in until I was around 36, which I regret.

Is the percentage of gross or net? I really don't know anyone who could put 20% of their wages away. At 40 we have 3 under 5. We go into our overdraft each month. 20% would be over £1k

Checked dh payslip and he pays £25 and the employer matches it. So we are hardly going to be living the high life! It's so unrealistic for many people.

My oh puts in 9% and his employer puts in 14%. He's on a low wage though so it amounts to peanuts ATM. I have nothing.

Percentages are gross, if you are in an employer scheme, they take the percentage off your gross salary and then tax you on the rest.

I earn £40k and about £230 is deducted from my gross salary. I'm not sure how much my employer puts in, but I think the total amount is over £600 pm and there are plenty on here that earn a lot more than me so will be paying a lot more. I've been paying in for nearly 25 years so I've never missed it.

Fuck me. 20% gross! Dh would be putting £1800 away a month just into his pension. Are you meant to do that as well as savings? How on earth are you meant to pay bills!?

I pay £20 a month into my pension. My employer refuses to contribute. I'm a low earner

44: I put 4% into work pension which employer matches. Plus about 20% into personal money purchase plan. Was putting £50 pm in from early 20's and upped significantly when split from exH in mid-30's.
I don't think it's going to be anywhere near enough.

I save mine and pay in one lump sum each year. I could pay on a monthly basis but I'd get charged a £15 admin fee each month. If only in a lump sum there is an admin fee of £50 but it works out better

Not enough! Having kids, being made redundant and now wirking p/t has shafted my pension. DH has been paying in since 16 though.

I see property as my pension.

I'm 43 and hear of people in 40s and 50s retiring. I expect to be 70+ like my parents!

I'm in my early 40s. I pay 15% of my salary into my pension, my employer also pays in 15%. I've only amassed 12 years worth of contributions though, so I've probably got some catching up to do between now and retirement.

I've already started pensions for both of my DC, so hopefully they will be in a better position than me when they're my age.

At the moment I pay 3% and my employer pays 5%. I started paying in when I was about 26. I would increase mine to 5% which would get me 8% from employer making 13% so just about complying with the half your age when you start rule, but am about to go on mat leave so pension isn't the top priority for the next while. I'm 30 now. DH's pension figures are similar.

I pay 9%, employer pays 19%.

I'm obsessed with mine - started paying in at 27 when I started paid work (post PhD). I am not very financially literate otherwise (have a permanent overdraft, for example) but my dad left my mum after she'd been a SAHM for yesrs and she was screwed, pension wise. She drilled it in to me to get a good pension and never to give it up!

bigkids - me too. In fact, it's the thing that keeps me working FT. Id love to be PT, but the hit to my pension would be awful.

I'm 35 and self employed. I pay £700 a month into a private pension

I pay 9% and employer pays 16%. Hope to sell house and downsize so we can retire early. Do not want to work past 60!

Private sector here. I pay 6 and my company pays 7.5. I also have a very small private pension that is worth nothing.

Husband has a good pension - one of the best around.

We have no mortgage and no kids so have plenty of savings put aside already.

I've been in local govt final salary scheme for 25 years, since I was 21, I think I pay in 6%. I've paid it from the day I started, so I've never paid attention to it coming off my salary.
Saying that, I'm screwed as I've spent the best part of the past 20 years working part time. Fortunately dh has a decent pension too, amd we don't have too many years of the mortgage left

Approximately £1300 per month for the last year, am mid 40's. I have got 28 years in a final salary scheme as well.

I'm 36 and I pay in 6% which is all I can afford at the moment with paying childcare. I also work part time. My employer pays in 15% - I work in HE so we are on the Local Government Pension Scheme. I plan to significantly up my payments once I don't have to use childcare anymore.

DH does not have a pension - he has never been in employment which has offered more than 1 or 2 percent. He prefers to over pay on our mortgage.

MrsK if 20% is £1800 how high can your bills be, that you can't afford to save anything into a pension and go into an overdraft every month?

I have always had 8-9% contributions since I started work so I've never noticed. Between that and childcare vouchers and student loan... I earn over 40k and take home £1800, which is normal to me but I realise is a lot less than I could potentially take home!

Mrskoala if 20% of your husband's salary is £1,800 then his monthly salary is £9,000!? I don't care if you are bringing up a football team of children - only putting £25 into a pension with that level of salary is ridiculous.

Bills are 4.5k a month and every month since we moved in (Apr) we have had to pay £500-2000 on things on the house. This month was cheaper as boiler and plumbing repairs were only £500. Had to pay £300 to movers tho to empty a storage unit (but that will save us £360 in storage costs, even if we are living in steptoes yard).

Maybe it's because I'm a Londoner but I can't imagine ever having enough to put such a large % away. My parents don't have private pensions. Pils never did either.

We saved every penny for deposits and mortgages are very high usually (not for us anymore, but they were). We drive a secondhand ford and don't go on fancy hols. So not extravagant lifestyles.

Sigh. I earn less than some people are putting away each month, so all the percentages aren't really the main factor here. 100% contributions, anyone?

Gosh a lot of you have very generous schemes. I think I have about 10% of (net?) salary going in altogether between my contribution and my employer's contribution.