How much in pension pot at 41?

[chubbaa]

I have almost 44k, which I think is shite. Trying to build it up as much as possible now though. What does everyone else have in their 40s?

I'm 43 and I think mine is about 40k. I have two local government schemes also which will help.

I've always paid into a pension since I started work but it doesn't seem to have added up to as much as I would think.

@TheMateofOphelia at least your government ones will help. I've only had a pension since auto enrolment began (in 2017 I think). Ploughing a few extra hundred a month now as my work pays the minimum. Salary of £43,500 so I can afford to put in a little more at the moment.

44 and have £230k, which apparently is still quite low :(

I'm 56 nearly 57 and I have a grand total of ..........

Wait for it.........

£0.00

£248k (age 48, been paying in since i was 22 but private sector and employee contributions are crap compared to public sector)

That's not low. You are a couple of decades off retirement age. I'll be happy if I have that at retirement tbh.

46 and £412k (public sector). It’s taken me 3 years to get a pension statement and discover that.

@khaa2091 that's awesome.

Aged 42 and £3K. But we have a flat we rent out which will be mortgage free by retirement and our home is mortgage free which we intend to downsize to retire and live off. DH has about £380K in his pot so I can never divorce him

Age 42 with £86k (SIPP, I'm self employed) and an old DB work pension from decades ago should give me about £2.5k a year

At least you're also getting employer contributions even if they're small

Check which funds your work pension is invested in. If you're in the default you're probably not getting the growth you could be. You can change how it is invested. Can you see on your pension statement how much it grew last year? (this is separate from how much you/work put in and the gov tax relief) does it tell you the percentage growth? If not, work it out. My average growth over the past 15 years is 13%. Last year it was 17% if you're not seeing decent growth, do some research and think about changing where it's invested.

@BalletSkiim not 100% sure exactly where the funds are being split but I moved it into high risk and it’s been doing better

I will take a proper look later

42, £230k in current employer scheme, £30k in a small private pension which is an amalgamation of pots from previous jobs. I pay nothing into that one but in the 6 years since it was set up it’s grown £7k!
DH is 45 and has about £90k across a couple of pots. Should be mortgage free by 55 and 58, no other debts thankfully.
We’ve definitely started to focus more on saving and upping pensions since hitting 40s, I’m working on the assumption that the state pension will be non existent/heavily means tested by the time we retire so that doesn’t factor in any of our calculations for retirement

47 and have about £250k, plus a public sector pension that will pay about £6k a year when I’m 68.

51, have approx £40k in one and a teacher pension that will pay out about £17k per year plus £50k lump sum at 60. Mortgage free now so putting extra into pension now to ensure will retire at 60 if not before.

Pensions are important but don't downplay the importance if investments, ISAs and property in your long term planning.

I'm 59 and mine is just £68k. If have a partner, don't forget there should be something from them, then old age pension. As you get older there's no mortgage payments for those that have one, no uni fees for those having to help and possible inheritance, that all means savings can accumulate.

remember that you should be expecting your pots to roughly double every 10 years. So £40k at 40 becomes £320k at 70.

£110k plus a teachers pension which gives me £5k per year and a small lump sum.

It's not enough but I'm doing my best. I've just upped it to £570 per month which is a combination of employer and my contributions (them 10%, me 12%).

I have £145k at age 39. I've massively upped my contributions after not paying much in at all in my 20s. My employer puts in 5% and I put in 15%.

surely you can divorce him and take half of his pot?

lol yes but I should probably wait for him to retire so it’s at its maximum 🤔

I'm 39 and have £41k in my current scheme and a couple of small, old schemes with maybe ~£5k in them.

According to the projections calculator, with contributions continuing as they are, it's estimated to be at £377k by 70 y/o, paying out £23k per year. I'd likely take a tax-free lump sum which would lower all of that down.

My employer has a very generous 27.5% pension scheme (7.5% me, 20% them), so I have zero plans to jump ship any time soon. I've only been with them a few years, so I think I'll be able to make up for low contribution year a little bit.

1.4M

At 41 years old?