how much is in your pension pot and how long have you been putting into it

The_White_Horse

5000GBP 3 years

bendix

If you mean purely in my UK pension fund, around £77-78,000. Started it in April 2009.

The_White_Horse

mine never seems to move. it always has the same in it, despite paying in monthly.

must be like a watched kettle.

you must put a lot in each month!!

FATBALLZ

about £12k, over 5 years but the majority was paid in in the last 18 months.

bendix

Recently increased it to just under £3900 a month.

I'm on a mission!

When I was 26/27 I devised a strategy. My aim was to be mortgage free by the time I was 40. I achieved it at 36. The next aim was to build up a wedge of cash (outside of a pension) and managed funds which would be my 'flexible' retirement money. I devoted the years 36-44 to that and got to where I wanted the amount to be.

However, I continue to add to those funds now.

I always planned that the years 45-50 would be primarily devoted to exploiting the tax efficient aspects of the UK pensions regime to build up my 'illiquid' aspect of retirement savings. And that's precisely where I am now.

It's meant sacrifices, but it will mean a nice long retirement doing exactly what I want to do, probably beginning in the next couple of years. It's not meant to be easy; it's all about discipline and being flexible, even to the point of moving around the world to do what I needed to do.

Velcro_Hotdog

£7200 started two years ago

MGCP

I'm early (ish) 30's, started about 5 years ago and its currently about £25,000. Am adding a contribution of £500 gross a month to that now. Bit worried I should have done more by now but am slightly torn between adding more or upping my contribution to a S&S ISA instead to spread risk and create a larger pot of long term savings accessible before 55.

I'm also now a member of my company's career average benefit scheme, although I haven't been here long and it is currently under review so that may all change. Depending on the outcome of that review I will probably need to rethink my plans, as that currently takes not far off £200 out of my monthly salary as well.

peterg1965

I have a non contributory final salary pension, the 'pot' must be worth something like £600K + at the moment, I guess. I can draw on that when I retire at 55, in 10 years time, it should be worth around £800K-£900K by then.

In addition, I have a £60K pot in my HL SIPP some of that (£15K) was accrued from a dormant Serps Personal Pension I had years ago, and I am now funding the SIPP at a rate of £1250 (gross) each month, with a view to increasing steadily over the years. The aim being to have a £400K SIPP fund to crystallise at the same time as my occupational pension.

danielley

I feel quite depressed reading some of these.

I cant ever imagine being in a position to earn £3900 a month never mind put that amount into a Pension!

lvader

I have a final salary pension worth 12K a year when I'm 60 and about 105K spread over 2 group pension schemes which I've been paying into for the last 10 years. I'm currently paying in about £850 a month.

C_Mababejive

With FSPS..is there an actual personal pension pot or is it simply expressed as an amount you will be paid at a certain age?