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What percentage does your employer contribute to your pension?

42 replies

HootOnTheBeach · 02/07/2015 23:02

Mine recently introduced a pension and it is 4%

I have no idea if this is good or bad.

Hoping to get some benchmarking going and hear your feedback.

OP posts:
Mumoftwoyoungkids · 03/07/2015 22:20

Hero1callylost - we may work for the same company. Recent merger?

Currently I'm paying 8%, they pay 14%.

Dh- they pay 3%, he pays 3%. Think thEU have to do that because of auto enrolment.

80sMum · 03/07/2015 22:22

Mine now contributes a very grudging 1% - and that's only because they are legally obliged to do so, as part of the auto-enrolment roll-out.

chickensandbees · 03/07/2015 22:23

Match up to 5%.

Some of these answers amaze me!

MrsSchadenfreude · 03/07/2015 22:24

I've no idea re percentages, but they apparently pay in £700+ per month and I pay around £200, according to my payslip.

unlucky83 · 03/07/2015 22:54

As a guide - Auto enrolment is still being introduced....not all smaller employers have to do it yet but they will soon.
At the moment (if your employer has been told to start) if you earn more than approx £10k pa it will currently be 2% 1% you and 1% your employer. From Oct 2017 it will rise to 5% (3% employee, 2% employer) and from Oct 18 it will be 8% - 5% you, 3% employer. This is the minimum - so the max employer contribution will be 3%.
They have delayed it before though - and might do again. I don't think it is fair on small employers as they will be jumping from 1% to 3% over shorter period of time.
And it might well be grudgingly -because it is an absolute red tape nightmare unless your staff are paid the same amount every month....I am going to have to do it for the small charity I work for (I do the wages), only one member of staff will have to be enrolled, their monthly income varies (And they don't make the minimum over the year but do the odd month). Every month I will have to make a separate declaration on how much they have been paid and contributed (along with already telling HMRC their total pay - this will be to another body)... and make a separate payment. At 1% each -so 2% just reaching the minimum it will be £10...I think they should at least do the same as small employer PAYE and you can pay them quarterly... or better still tie it with NI/Tax and the HMRC (It is the pension regulator at the moment and private pension providers...)
Employees can opt out but can't be encouraged to and you have to renew the opt out every 3(?) years. Some employees who earn less can also opt in and the employer has to pay...and it was really badly explained but last time I looked they had improved that.

Atthebottomofthegarden · 07/07/2015 19:22

Ooh Unlucky I feel for you on that one. Our staging date is not until 2017 so I haven't got my head round it yet. Clearly one to look forward to!

My employer pays 10%, not bad for private sector. They don't force us to match as they believe we are grown-ups... I do though.

TheBreeze · 07/07/2015 20:45

I pay 5%, they pay 10%

Truffler1 · 21/07/2015 10:06

15% non cont

GreyBird84 · 23/07/2015 21:51

I pay 9%, employer pays 19% (university).

justcallmethefixer · 23/07/2015 22:15

They match up to 6%

OddBoots · 23/07/2015 22:19

They match what we put in up to 10%

Applesauce29 · 25/07/2015 21:39

10% if I pay 2% (and that was only after 6 month probation period).

Not very much, considering I work for a big insurance company that specialises in annuities and knows this isn't enough to provide for a decent income in retirement! And they only pay SMP!

TalkinPeace · 26/07/2015 13:15

Nil
because I earn too little in each of my jobs.

Please be aware that anybody in the LGPS, your employer is in fact paying in around 20% of your salary because of top up fees over and above the 13.5% or 15.6% between the schemes

Please be aware that anybody in the NHS, Teachers, Civil Service, MOD or Emergency Services "schemes" - they are unfunded schemes - there is no pot of pension investments. Your pension will be paid out of your children's contributions.

Pray that there are enough working age people to keep the taxes rolling in.

ememem84 · 26/07/2015 13:18

Mine used to be 7.5%. Then I changed jobs. New employer is 0. But salaries are higher to take this into consideration. I am aiming to pay 10% into mine this year.

ByTheSea · 26/07/2015 14:06

Not that brilliant. 6% plus add 6% to what we contribute (e.g., if I contribute £100 they will add £6. I contribute another 15%.

WhirlpoolGalaxyM51 · 26/07/2015 14:11

They put in 7% then they also match any contributions you make up to 7%.

So if you put in 7% they put in 14% = 21%.

I work in financial services so they usually have reasonable schemes as it's their "thing" IYSWIM benefit packages are usually pretty good.

DH gets final salary Shock he is public sector. Lucky bugger Grin

AndNowItsSeven · 27/07/2015 10:18

Sky walker that is really generous, why is your dh only paying 1% himself?

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