How old are you and how much do you have saved in your pension?

[availableforlunch]

I'm dreaming thinking about retirement and using the MAS calculator. Apparently I need to put a huge sum into my pension each month (over £700!).

I'm 31 and have about 20k saved. Started aged 20 thanks to my sensible boss at the time advising me that I should. She was only 7 years older than me so I took her advice on board.

£20k still seems paltry for 11 years of saving!?

How old are you and how much is in your pension pot?

How do you know how much you have?
I have been paying to pension (comes out of my wages, NHS so is a good pension) but how do I find out how much I have?

@PaprikaPringle why are you worried with what you have?

I have around £100k and I’m 32. I should have over £1million if I continue paying into it at this rate (hopefully more as I’m likely to earn more as my career progresses). I’m very lucky as I’m in the NHS pension scheme which is great.

mid 30s, final salary pension worth about £17.5k at 62 if I stay until then. I'm due at least one more increase (other than annual pay increases) and possibly another, substantial one so it should go up, but I don't know if I want to do this until 62! I also have a tiny AVC pot (£4.5k) and will get a £35k lump sum.

I also have a pot overseas, worth roughly £50k.

I am just 27 , and have around 12,000 at the moment but want to go hard on paying in .

What does everyone recommend I pay in?

Company pension to get the % is 4 percent from me and 7 from them which is good .

Beyond that should I invest in a SIPP?

32 and nothing right now due to many factors in life such as disabled children
My aim is to start saving £100 a month soon which still isn't alot but it'll be there for when I'm 60s 70s

39 and £135k - I am shovelling as much as I can into my pension, my aim is £500k by 60 but going part time and having DC (childcare) has massively reduced the amount I can pay in.
I am lucky that my parents drummed into me to save as soon as I started work so I have a decent pot already but I do need to knuckle down now. I save about £1k a month.

anonacatchat, I can't recommend an amount for you to save (you could ask an IFA or the link in the original post should help calculate)

I put in 10% (~£1k) a month and my employer matches that. I also opt to have all my annual bonus (~£30k) go in my pension, having checked it doesn't exceed the annual allowance

Age late 30's and 12K in pensions. Should be something like 3x your income by age 40. I'm far behind.

Mid fifties and about £450k in pension + 2 final salary pensions from ex-employers (=

Still have no idea how so many people have such huge pots. I'm now shovelling £800 a month into my pension - that's still less than £10k per year.

No idea how I only still have such a low amount after paying in since I was 20.

I have 40 years NI paid, and about £400k in various pension funds.

For this I should get about £20,000 a year plus the state pension at 67.
I know I’ve been lucky and and should be better off than most single women but after a lifetime’s work, it’s hardly champers & round the world cruise territory

What is a good pension calculator to use?

@mlmsuperfan I use the money advice service one

www.moneyadviceservice.org.uk/en/tools/pension-calculator

Thanks.

57 and no pension other than state. But I invested in property and own six properties mortgage free (I rent out five) so that's my pension and for my kids.

44 and about 300k. Realistically will probably only get to 500k by retirement but mortgage paid off and have savings plus full state pension. The predictions are very depressing.

I think the investment growth alone would get you beyond 500k by retirement age.

I'm 35 with a pension pot of £900k

That's surprising. For the last 4 years you'd not be able to put that much in as £10k is the limit (as you're clearly a high earner). So in the 10 years prior you put away the best part of that? At 24 you must have been earning >£200k as that was your last chance at a lump sum

Pension input has allowed:

£215,000 for the tax year 2006–07
£225,000 for the tax year 2007–08
£235,000 for the tax year 2008–09
£245,000 for the tax year 2009–10
£255,000 for the tax year 2010–11

After that it was 50k, then 40k

Did you inherit the pot @PaprikaPringle ?

Late 30s and £125k approx

I'm not sure of exact figures, I haven't checked recently and it's pretty confusing when I do, but I have had an NHS pension for 15 years. Plan to stay in the NHS for life (if it's around) and I'm 38 so have another 30 working years left currently studying for a degree in my spare time (ha!) so I can also get a better paid job and hence more in the pension.

DH doesn't have a great pension but he does have a buy to let. We overpay the mortgage too so should be paid off in 10-15 years ideally and we won't need to move again as we have enough room for the kids to grow up here.

Rule of thumb is about £300k of capital to generate around £10k annuity income

I'll just continue working

@HermioneWeasley that is so depressing for those of us with defined contribution pensions