Pension question

[AssemblySquare]

Please can someone explain what a ‘10% non-contributory pension’ means?

I’ve been a teacher all my working life and I’m looking at jobs outside and trying to compare the benefits!

Sounds like a defined contribution type pension where the employer pays in 10% of salary and the employee doesn’t have to contribute (but can choose to). I would guess that there wouldn’t be any additional matching contributions available from the employer above 10% but you never know.

10% of your gross salary annually. You don't need to contribute anything.

Mine is 5% non contributory and 4% matched.
So if I pay in 4% myself I get 9% from my employer on top 13% total for a 4% contribution.

You get 10% for nothing but IMO you should contribute extra or you will have a short fall.

It builds a pot of money that can be used for a pension in the future. The amount of pension you get out is unpredictable,

The opposite of the teachers pension which is based on your earnings and very predictable.

In general teaching pensions will be worth a lot more than money purchase pensions

@GoldenBlue

It builds a pot of money that can be used for a pension in the future. The amount of pension you get out is unpredictable,

The opposite of the teachers pension which is based on your earnings and very predictable.

In general teaching pensions will be worth a lot more than money purchase pensions

∆∆∆ this! Private pensions are so much worse. A £300k pot would buy you roughly £12k per year with no survivor benefits.