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Pension Help

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Comments

  • chriswuk_2
    chriswuk_2 Posts: 207 Forumite
    lol - thats exactly my thoughts

    I wasn't going to bother before you gave me the "real" figures

    Plus that figure is at my current salary, so It's sure to be even more with pay rises/bonuses etc.

    I forgot to mention that every march, we get a bonus "upto" 20% of our annual salary, so I assume that each march, an huge extra wad of cash will go into the pension fund ?
  • dunstonh
    dunstonh Posts: 120,240 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Projections are probably done on SMPI basis. This is typically 7% p.a. reduced by 2.5% p.a. for inflation. Although some will project using figures as low as 5% to begin with.

    SMPI is designed to show figures a little lower than what is likely in reality rather than the historical other way round which was to use rates higher than likely.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • clairehi
    clairehi Posts: 1,352 Forumite
    chriswuk wrote:
    every march, we get a bonus "upto" 20% of our annual salary, so I assume that each march, an huge extra wad of cash will go into the pension fund ?

    check your contract but most bonuses are not pensionable.

    sounds like you are doing very well anyway though!
  • chriswuk_2
    chriswuk_2 Posts: 207 Forumite
    Cheers Claire, I'll check that out tonight !

    I'm not doing too bad for myself :beer:
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