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Should I pay extra into my work pension?

3 replies

Marilynmansonsthermos · 02/04/2019 20:51

It's a shared pension as part of my job for a large educational establishment. I am support staff rather than teaching and don't earn that much however. I don't have any other private pension so do you guys think it's worth paying more into my work one? Say £50 a month? Thanks for any advice

OP posts:
NoSquirrels · 02/04/2019 21:39

I think you might need to provide more details - what does your employer put in & will your employer match your contributions or just pay a fixed percentage of your salary regardless, how much % of your salary do you pay now and what might you put in "extra", how long have you been paying/how old are you etc.

Fairyliz · 02/04/2019 21:46

Is it the Local Government Pension scheme?
If so I assume you will be paying AVC’s which don’t go into this but still a good idea as you get tax relief on payments

kamelo · 02/04/2019 23:20

Depending on the pension type the advice may differ. Almost certainly it would be a good thing but the details matter.

Is it defined benefit or defined contribution?
Does your employer contribute more if you do?

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