How much do you contribute to your pension each month?

[LittlePrecious]

I'm just curious as I've just increased my contributions.

My gross salary is £67K.

I put roughly £750 into my workplace pension each month - £350ish as standard and then I add another £400 each month.

I'm trying it on for size for a year and then might increase it again. I could afford to put a lot more into my pensions, but I want some ££ for short-term flexibility, rather than locking everything away until later life.

I'm 40 with very little prospect of huge salary increase.

How much do you contribute to your pension each month?

Yet again staggered by how much money some MNers have. I have an OK salary but couldn’t even begin to fathom some of these percentages being stuffed into a pension, when I also need to live.

That said I’ve been paying into a pension since I was 22, am 52 now and hopefully it’ll still give me a decent standard income when the time comes.

I put in 10% and my employer 29%.
it’s what keeps people there forever I think!

My pension is hybrid - some of its final salary, some is DC.
My pension is willable.

I do 9% and employer matches, so 18% of gross income in total. A further 10% annually gets split between cash ISA, S&S ISA and Premium Bonds for diversification but also just in case shit hits the fan and I need access to money.
I’ve also got a private pension which is an amalgamation of small pots from previous jobs, I pay nothing in and the annual fees and charges come out of it but it has still grown 20% in the last 6 years.
Other money is saved in specific, easy access pots for things like holidays, house renovations etc.
Since turning 40 we have really focused on our finances and living below our means so that we are set up well for later life

I put in 45% and my employer 12%. I had a 10 year gap when I worked overseas and gaps back here when I was a contractor, so I’ve been catching up over the last few years.

Ditto - me and DH have both seriously upped our finances game since we hit 40.

35% of salary, of which 10% is from employer. This is only recent though, I used to put in the minimum when I was young and trying to play catch up a bit now I’m old

Mine too, the part not final salary is willable, the part that is final salary is not.

Am playing catch up, between pension contribution & AVC 35%, employer 10%. I was part time for 17 years, I don’t regret this as had a good work/family life balance, but my pension took a hit, have had promotions, good pay rises so I directed a good portion of that straight to pension.

I put 2% of my salary into my pension, as that’s what my employer will match (they also pay 12% as standard, so 16% in total).

Not interested in paying any more in at present as I have other financial priorities and my pension is currently on track to give me what I need when I need it.

I pay 8% and employer pays 3%. I'm 37 and plan to increase once the nursery fee years are gone.

This thread has shown me I need to find a new employer with better benefits.

I do 12% and my employer matches that so 24% total.

20% of my salary. Company pays 15%

I am on £74k, and I put in £1300 a month, employer £400 ish. I’m 42.

I'm 48 earn £23k I pay 5%, my employer 8% and a further 8% of my take home goes into a SIPP

My pension is hybrid and allows for AVC (defined contribution) in Additionally to defined benefit.

I put in about 48.5% for the AVC, on top of the usual contribution for defined benefit. Additionally, I also add about £680 to SIPP. The plan is to put in about £3k/month in both AVC and SIPP in the next 7-8 years so I can retire 10 years earlier at 57. After 7-8 years, my AVC and SIPP pot should be about £500k, based on the assumption of 4% annual real growth (after inflation).

Playing catch up after company doing a dirty deal in 20’s so very little pension (long story) and then getting ill with no critical illness cover in 30’s and very little work for 7 years so only really been able to in 40’s. I just upped my contributions to 22% (from 15%) and employer just upped to 10% (was 5%) with a promotion. It’s tough as also trying to pay down mortgage, childcare and rainy day fund (and sole earner). Hopefully if I do this for a few years I can then maybe lessen amounts and have more financial freedom but gain from these years of compound interest.

I did the same that you’re planning and on similar salary about 8 years ago. I have since ramped it up twice and can see even in that time the massive difference that it’s made compounded.

but I’ve also maxed out each years S&S ISA so I have no pension investments as well as I think it’s better to have both and don’t lock it all away.

it really does make a difference if you can do it now.

20% altogether - 8% from me, 12% from employer

I’m in the LGPS and put in (inc employer contributions) about 35% of salary.

36 & earn 84k (although 67k pro-rated). I put in 7.5% and company 15%.

Got about 100k in my pension after starting in my late 20s so that’s about 8 years of contributions.

I put in about 15k a year currently and looking to up that in the future.

Maxxing-out my ISA on the first day of the new financial year is always my top priority!

I put in 6% and my employer 4%. Can’t afford any more and don’t earn much for it to be very impressive. Age 52 current pot is just over £100k and frankly I’m amazed I’ve put that much in as I didn’t start until my mid 40’s having spent my 20’s just not registering and my 30’s self employed and not a penny spare.

On 50k, I put in 10-15% and employer 10%. Surprised I have over 200k in the pot though I've been saving for 20 years now.

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