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What do you contribute to your employers pension scheme?
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Rate of contribution: I pay 6%, employer pays 6% but 1% of this is used for death in service/sickness benefits, so 11% goes into my fund each month. Every 5yrs employer will up their contribution by 1% upto a maximum of 10% at 20yrs.
Expected return: No idea, hoping for around 40-50% 'final salary'
Date of Joining: 2010
Sector - Engineering
Salary range £55-65k
Age = 27
I also have an index linked FSP worth approx £3.5kpa payable from 65.0 -
15% employer contributions (crica £500)
0% employee contributions (will be contributing in 2011 following house refurb) which will be 100% of my 2011 payrise (hopefully 5%+) would be nice if it is 10% too (long shot but possible).
Goes into a 70:30 Global UK Equities L&G
Private Sector - Petrochemicals (finance)
Expectations at least 50% of salary following 5 years of 5% and 35 years of 15% contributions
Started 2005 - fund currently (15k) (lower contributions earlier on in employment)Plan
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)0
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