Pension

[worldwidetravel2017]

How do you work out what youd have in the future ?
As of jan 2026 - theyll be 240 gbp going in monthly - then 60 gbp added as rex relief
( so 3600 a year ) .. including tax relief

Is that considered a low amount?

*tax relief

Typo where it says rex

Try this calculator. https://www.moneyhelper.org.uk/en/pensions-and-retirement/pensions-basics/use-our-pension-calculator

Depends how old you are, when you plan to retire, what your expenses are etc.

Put in as much as you can afford would be my advice, even an extra £10 a month is worth doing.

The figure of £240 is the most you cam get post 2016 from the basic state pension. People who paid into SERPS and similar may get more.

Those who claimed (only) state pension before 2016 get less. Those who were contracted out of the second state pension need another ten years or so paying/being credited with NI to get the full £240.

And that's before occupational and/or private pension provision kicks in.

Sorry - my whole post was about private pension

I should of made that clearer

Nowhere near enough info. How old are you? What other pensions do you have? What are your retirement goals? What is it invested in?
I'm 35 and the amount you quote is around what I make in addition voluntary contributions, ie on top of my main defined benefit pension contributions. This is to build up a separate pot that I hope will grow to be enough to fund early retirement from around 60 until state pension and my main DB pension kick in. Ie I'm hoping it will cover around 8-10 years. If that's your only pension it doesn't sound like a lot, but if it's all you can manage then anything is better than nothing.

@worldwidetravel2017 my mistake as I saw the £240 figure and didn't read the rest which was clearly about monthly contributions.

OP, I commented on one of your threads a few weeks ago.

If you're still not working then whether or not £240 a month before tax relief is considered a lot or a little is actually neither here nor there. It's the most you're allowed to pay in under any circumstances if you are not earning.

You can't 'work out' how much you'd have coming back as a pension in the future. You would be building up a pot of money in a pension. The size of the pot when you retire will depend on how much you put in between now and then, the investment returns you achieve, the date you want to start taking money out, and how you want to take the money out.