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 45 and have around £490k. I prioritized pension investment over the last few years, which also worked out tax efficient and allowed me to get free nursery hours and tax free childcare. I consolidated old work place pensions and moved everything into a properly managed investment portfolio and have a financial advisor who has educated me massively over the last two years. I’m going to pretty much let it grow without too much top up. Plan is to retire at 60 and also to draw down the tax free lump sum at 57 or whatever the earliest age is….i’ll like have a secondary pension from public sector too.

I’m 48

around £50k in an old employment pension

i pay 9.8% to my NHS pension

At 41 I had a total pension pot of £30k all from employer contributions of 5% since age 30. Although I had always earned more than average, I was a single parent and needed money for living costs. Although in retrospect I could have contributed something.

Now at 49 I have £350k. The kids grew and became financially independent, I learnt more about pensions, growth and compounding. I started making contributions, changed jobs a couple of times increased salary and now contribute 40% to pension (still the same shite 5% employer contribution) and reviewed my investments and took higher risks in some places.

Notwithstanding any unforeseen issues, I'm hoping to retire at 60 and will build up non pension investments to bridge the gap.

At 41 you still have time to grow your pot.

Late 40s
£112k in DC pensions
£38k pa DB pension from 67
£294k ISAs

I'm 38 and have £100k in my pension. It's not really enough but I only earn minimum wage so I'm pleased with what I've been able to do. I agree with others that if time is on your side, moving out of the default pension fund and towards higher risk options has served me well. I review the funds my workplace pension is in annually and make changes if I feel I need to based on how things are performing. My pension has subsequently grown FAR more than if I had left it invested in the default fund.

I also have a Stocks and Shares ISA with £20k in it that I add a small amount to each month. That's my "early retirement" pot so I can retire a few years sooner hopefully.

The mortgage is due to be paid off when I'm in my late 50s.

i'm 41, i have £70k in a SIPP and £40k in my current work pension. however, i have a lot more money in ISAs and other investments. I put money into bullion around 2015, which has now tripled since then! i have more money outside of pensions because i do not trust the government.

This thread has worried me! I'm 35 and don't know what a pension pot is! I probably have some form of NHS pension but have no idea how to find out. I've been a SAHM mum for so long so probably don't have much anyway.

The NHS pension will be defined benefit so yours won't be a "pot" like others have. It will be worked out based on your salary and how many years you worked for the NHS. I would dig out any paperwork you may have had or give the payroll people at the trust you worked for a message to find out more.....at the very least it's useful to keep them updated with your address and details of any beneficiaries you'd want your pension paid to if you died.

Even as a SAHP you could contribute just under £3k a year to a SIPP (self invested personal pension). You've got enough time on your side if you start now but I think too many women bury their heads in the sand about it when children come along and this is exactly why there's a massive gender gap in men and women's pension pots.

The trouble is, many SAHP have no income apart from maybe child benefit. It's impossible for me to save anything, never mind contribute to a pension. It does worry me that I have no savings for the future and retirement. I do work part time now, but i don't earn enough to leave any aside.

I am 39 and have about 25k.

Do you have the opportunity to up your hours? Planning for pensions really needs to be part of the conversation and calculations when deciding on hour many hours to work and what you can afford to do.

I was in a very similar place and did Rebel Finance School, I had 50k in 2024.

46 with 70k now. I'm going to put as much as I can in before I turn 50 because my earning power is decent (44k salary) and the compounding interest before 50 is still significant.

My goal is to hit 100k ASAP as it starts to grow more exponentially then.

Numbers wise, it's not unachievable for me to hit 250k by 55 working for employers with 8-10% employer contributions.

The thing to think about is whether you want to reduce your hours in your 50s, and if so then load it as much as possible.

I don't like the idea of having to force myself to go for higher paid stressful jobs just to get enough funds in. I'd rather live a bit more frugally now.

That's an ideal time to look into it. I'm always shocked by the lack of financial knowledge of women. Don't leave it to a partner. They might not be that savvy either! Highly recommend Rebel Finance School (free) for beginners.

I don't think people realise how much financial anxiety is a background source of anxiety and how good more financial freedom feels.

That's still way above average.