To be nosey and ask how much you pay into your pension?

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I have only had a pension for the last few years since I started working in the NHS. From the start, I have paid 7.1% of my salary towards my pension every month, and have just had a pay rise, so will be paying in 9.3% from now on. This will be about £200 per month, it was about £140 before (it varies every month as my monthly pay varies depending on how many nights and weekends I do). The contribution rate that the NHS pays was 14.3%, but this has been increased to 20.6% from the 1st of April 2019 (which seems like a big increase to me, but I'm not complaining!)

I'm just curious nosey as to how much other people in different jobs pay towards their pensions, and how much their employers contribute?

Wow, I thought my employer was generous, but i’m gobsmacked by some of the contributions that are made here!

I pay in 6%, my employer pays in 12%. It’s ex public sector so it’s a hangover from that I think - some of my colleagues that have been here a while are on some very generous final salary type schemes. My old job paid in 5% to my 5% and I think that’s more the standard.

I pay in 12% and my employer pays in just over 16 %.
Yes it’s one of the better pensions but as pp said, everyone has always known that public sector is often lower pay but better pension than using your skills in the private sector. The fact that people have been leaving the NHS and teaching in droves suggests that decent pensions aren’t enough to keep people in there

All changed now though- you can’t get such good deals in the public sector any more.

Between me & employer it's now 25% - it's a tax efficient way of saving so tend to increase my % if I ever get a pay rise.

Work for a bank. I pay in 7%, they match the 7% and pay an additional 8%.

NHS, so paying 7.1%. Before NHS I was in a private scheme paying 2%, I doubt that parts going to get me more than £500p.a so am relying on the NHS part

10% and employer matches to 10%.

It's a private sector company that deals partially with pensions - they were surprised when they tried to rationalise all their employee pension schemes that we noticed when they were trying to sell us a dud - so they agreed to increased employer conts.

I’m self employed so pay a certain amount. I’d like to know how this compares.

How do the % work?
Those saying they pay 10% and their employer 10% for example. Is that 20% of your gross monthly wage goes into your pension? Or 20% of your net wage for the month?
Or is it 1/12th of 20% of your annual salary?

Private business, employer will match up to 4% and has done since pre auto enrolment.
I put 4% + employer 4% into that, plus about 25% into a personal pension plus ad-hoc annual contributions depending on my position.

Most companies I know are only paying 3% Er, 5% Ee.

I pay 6% and my employer pays 7% (medium sized charity). I work part time so it's only about £70 per month.

museumum, it depends on the scheme as to actual amounts - e.g. ours only do it on monthly basic, not any paid overtime or commission.
The % is of your monthly gross figure.
Again depending on how the scheme is set up the employee contribution is then taken pre or post tax. If pre-tax you get tax relief at source, ie pay less tax and NI in your PAYE. If post-tax your contribution is then grossed up by HMRC paying over the tax to your pension provider.

I’m self employed so I’ve just set up a LISA (life time ISA). You can set one up until your 40th birthday and pay in up to £4K per year and the government tops this up with 25% of whatever you paid in, up to £1k. So I pay in £333 pm and will have £50k in ten years’ time. I recommend this to anyone who is self employed because it’s flexible and you can skip paying in or pay in more whenever you want. The Money Saving Expert site has clear and up to date info about them.

I can’t recall what I paid in when I was employed but it was always over £200pm on a salary of £40-£50k.

I put in 10% of my salary and employer also puts 10%. Going to try and increase my contributions to 20% as at the moment it looks like will be spending my old age eating baked beans on toast for every meal

Teachers pension contributions are going up to 23.8% in September

I don't know what percentage dh puts in but I think roughly 800-1000 a month goes into the pot altogether

So that works out to 20% if gross wages

Nothing! I have a couple of paid up ones from when I worked for other people, will mature when I’m 60+, but I bought property instead thinking it would be the better investment and so far have been proved right. It’s usable, profitable, and increases in value each year.

Looking at a LISA now MooseHoose, thank you.

My last employer (a year or two ago) started off paying 1% and then upped it to 2% of my salary. I was, by default, also set to pay in 1%. It was a tiny amount so I opted to raise my share to 10%.

@2015newstart

What's so special about their scheme, why is it rare. You say hold onto it... in what sense IE how could you not hold onto it!

Do you think it's worth carrying on with it even if cease to stop working there. Is it worth buying more of it? Sorry for questions

Private sector, my employer pays in 15% and it's non-contributory. I match it with 15% on a salary sacrifice (so works out about 13% on reduced salary but with employer NI added on, nice of them to pass on that saving!)
I used to be public sector on a 1/80s scheme and I overpaid there too to buy back years. My grandparents have had a lovely retirement living in the sun in wintertime so I've always had that in mind!
My DH is a teacher but on career average rather than final salary.

DoLookBackinAnger Here www.moneysavingexpert.com/savings/lifetime-isas/

MooseHoose thank you

I'm an nhs worker so similar to you! Apparently the pension was even better 10 years ago, it's still pretty decent too believe though. I have no plans to pay anything additional in. The problem is it reduces massively if taken early and retirement age is nearly 70 for me :( no time to enjoy the money!

I pay 6%, my employer pays 5%.

Private employer that contributes virtually nothing, works out as 1% of my salary, really depressing. I need a new job with better benefits!