To ask about your work place pension?

[Mmmmarmalade]

How much you contribute as a % of your salary and how much your employer does?

The minimum an employer has to is 3% which feels awfully low.

my old old employer had a very good scheme, performed v well to, they paid 10% and then a further match up to 6%.
current is ok competitively but not as good, 8+5%

what’s yours like? Wish I still had my old pension plan, can’t lie

Retired American military officer. No contributions from me. Started with half of base pay at time of retirement, which increases each year according to the inflation rate. Full private medical cover paid by fed gov't. Survivor's benefits for my husband upon my death.

Husband is retired American federal government employee. He contributed 3% of earnings to pension while working. At retirement he received the average pay of his last 3 years of service multiplied by 1.1% for each year of service, so roughly 35% of his final pay. He also has full private medical cover and survivor's benefits for me if he dies first.

We both receive Social Security, which is the US Gov't state pension and which is decided by some complicated formula based on lifetime earnings. We contributed 6.2% of earnings toward that while working and the gov't matched 6.2%.

In addition we invested through the government plan in stocks, bonds and US Treasury notes. I didn't get a match being military, but my husband's contributions were matched, with the first 3% being matched dollar for dollar and an additional 2% being matched at 50%.

Lots of people don't understand the difference between DB & DC. I spent a lot of time in my old job trying to explain why the pension scheme was so good and worth the personal contribution.

LGPS and no idea how much I contribute. I only know the figure that hits my bank account every month.

Plenty of vacancies in the NHS. Because more and more people are deciding that a good pension isn't enough to compensate for poor pay compared to similar jobs in the private sector, inadequate funding of services, shift work, badly maintained hospitals etc etc.

I salary sacrifice 6% and my employer matches it. Doing it by ss means we both save on tax, I think.

It will show on your pay slip how much you pay
It will be a set percentage depending on your pay grade.

Currently 7.5%, which is matched by employer. This is the best pension I have had to date. Move jobs in September and will be on LGPS, which I will pay less towards but it is a better scheme overall.

But the 30% isn't funding your pension pot as such in the NHS it's funding the people who are currently receiving their pensions (me included) so your pension is dependent on your earnings over the years. It would be good if your employer did put 30% into your pension though!! Would soon ramp up your LTA.

Even with the new scheme it's a great pension.

I'm at a law firm - they put in 5% and I put in 5%.

I also pay into a private scheme that I've had since I was in my 20s and have other savings.

I mix and match as I like to have some control over my investments. If I wanted to add to my private pension I'd have to go through loads of forms to prove I can afford to. If I want to add to my share ISA, I just log on and do it.

I’m private sector, and have some pensions that have been much better than others.

Current one is ok, I pay in 6% and employer matches it up to 6% but not above.

I pay 6.5% and employer pays 13.5%

The scheme details looked too familiar! I think I actually got it wrong in my OP, it wasn’t 6% it was 7%

inside joke, does everything ‘become complicated’ IYKYK 😂

University. I pay 9.6, they pay 12.3 (not a superannuation scheme!)

Private company, set up for bare minimum - they pay 3%, standard employee contribution is 5%. I've upped my contribution to 10% but they don't change theirs.

Law firm here. So far it's the most generous of where I've worked. They match up to 6% (everywhere else has been 5%). I contribute 14%.

Can only dream of the public sector pensions that some people on here have!

I currently pay 8.6% this will increase to 9.6% when I move through the salary threshold, I can if I choose to go higher and earn more pay up to 11.2%. My employer currently pays 28.6%. However mine is defined benefit and career average meaning my pension is based on my best three years out of my last 10 years of employment in that profession

@DappledOliveGroves I’m sure public sector employees can only dream of your salary though

@easylikeasundaymorn do you mind if I ask what it is that seems so confusing? It would be so helpful for those of us who work in pensions to better understand - as you know there are lots of guides to pensions around but they dont always seem to work as intended.

9.8%
employer pays 23.7%

Private sector defined contribution. I contribute 7.5% and employer 20%.

I know it’s very good, and makes it hard to leave.

A sobering thought if you work in the private sector.

Employer 19%, me 6%. Private sector

Is that legal?

Civil service, i pay in 4%, can't remember what employer puts in but it doesn't really matter as its an average salary scheme so is based on my salary each year

@easylikeasundaymorn It’s not at all confusing, the alpha scheme is very easy to understand.

2.32% of your annual salary goes into your pot each year. The total of the pot is the annual amount you’ll receive at retirement.