Employer pension contributions

[ilovebrie8]

What is the "norm" for employers?

Thanks😊

I’m not sure there is a norm. The minimum an employer has to pay under automatic enrolment legislation is 3%. Many employers will only pay this; many will pay more. It will also depend on the type of pension arrangement - in the public sector where defined benefit schemes are still on offer employer contributions are often around 25-30%.

As above, it varies from scheme to scheme. Some only pay the bare minimum they can get away with. Some will perhaps offer matched funding up to, say, 10% as an incentive for employees to save more. Others will be far more generous.

for most companies my partner has worked for (us based ones and UK) we’ve been unlucky to get a 3% contribution from them, you just need to top it up quite a bit through salary sacrifice if possible. Sometimes the contract states that their contribution will increase a couple of percent after 2/3 years.
The pay / bonus has been generous and high (tech industry) which helps compensate. He earns x3 times as much for a teacher for example, and they get no bonus but generous pension

I get 8% if I contribute 5%. My last job it was 10% if I contributed 7% but equivalent as Ona better salary

Got 16% in my last job, which is very good. 10% now from my high paying US tech employer. Still not bad.

Useful to hear what others get, so 3% is poor as that is the minimum they have to offer.

Public sector can be lavish
so can private sector which can also be dismal
Charity sector is usually dismal.

I get 7.5% I. The charity sector which is better than average

Think my public sector is 28%. My own contribution is £400 a month.

It might be “poor” or it might be standard for your industry.

Mine is around 28% but I get paid a lot less than I would for a similar role in the private sector so depends if you want the money now or later

Same here, I work in tech companies so have always had 3% until this one which is 5%. But salary and bonus higher than average to compensate.

Minimum of 5%, will match me up to 12%.