Employer pension contributions

[sparkle17]

Hi, is 8 percent employer pension contribution decent. My husband is going for a new job and just looking over the details.
Thanks

Where I work it’s 8% overall, so 5% contributed by the employee and 3% employer. So I’d say it’s decent.

I agree - I think that's pretty good actually

That’s good. The legal minimum employer contribution is 3%. I get 6.5% and I thought that was pretty good, so would be very pleased with 8%.

Assuming private sector yes that's good. Public sector - bit low!

Thanks. His current job is 5 and 5 so I already knew it was better but good to know. It seems an added incentive to switch jobs.

Not bad.

Very little firms tend to do 3%.

My v big firm gives 8, then matches your contributions up to a further 8, so 16 from them plus 8 of my own goes in.

Tiny firm here. We do 5% employer for staff, 7% for senior staff. Plus 1% NI saving for salary sacrifice. I did an extensive peer review - we are top quartile for our sector. So yes, 8% is good.

To put it in context, in public sector defined benefit pensions, employers are usually paying well over 20% and some close to 30%. Plus of course, these are defined benefit pensions where it’s not a pot, but a yearly income for life which is index linked in retirement.

Typically, employees pay in between 5 and 11% depending on their scheme and earnings.

You can see why these pensions end up being so good….it’s because contributions are often 1/3 of salary or more each month.

But often public sector salaries are lower.

I get the minimum. Everywhere else I have worked the employer pension has been really good, enhanced. I hate looking at mine on my payslip as it's next to nothing. So I'd be happy with 8%

It's ok for private sector, if you're happy with the overall package 8% isn't too bad and I wouldn't turn it down on that basis if I was happy with everything else.