Typical Company pension contributions?

PThomas_2

My employer provides a Stakeholder pension and contributes 3%.
I don't feel this is very competitive in the job market these days and have asked them to review it.
My previous Company would pay 6% if I paid 4.5% so I am definately going backwards.

I would like to know what sort of % your Company contributes, you don't have to name Employers, I just want to get some idea of what's normal these days.

roobers_2

I don't think 3% is that unusual. Mine pays 4% rising to 5% after one year and 6% after two. It's the best percentage I've come across in the companies I've worked for (software industry).

This one doesn't require a matching contribution either which is somewhat unusual, but they refuse to do salary sacrifice on any amount I do put in.

Bean_Counter

Company puts in 5% if I put in 5%, in the construction industry.

webnibbler

3% isn't a lot, but in my experience it's probably average. I only get the rebate from the NI on contributions in my work's salary sacrifice scheme, this equates to about 2%, but other than that the company contributes nothing. As roobers says, in IT this isn't unusual.

sorcerer

yep same here 3 %.

MoneyMagic01273

Work for a global financial services company.

My employer contributes an automatic 3% of my salary - and then matches my personal contributions up to a further 6% - so overall the potential exists for 9% employer contribution (assuming I contribute at least 6% of my salary myself)

Sauveur

up to 6% matched at a large accountancy firm

hugheskevi

According to Occupational Pension Scheme Survey:

For private sector defined contribution schemes, the average contribution rate in 2010 was 2.7 per cent for members and 6.2 per cent for employers.

Note that this survey doesn't cover contract-based pensions, and in particular Group Personal/Stakeholder Pensions which are used by many employers. But other surveys which do cover those normally come up with a combined employee/employer contribution of about 10% or perhaps a little lower.

The survey covers 1 million individuals in occupational defined contribution pensions so is quite representative.

lexington013

I work for a large supermarket group, I pay in 10% and they contribute 15%.....,

ffacoffipawb

Financial Services outsourcer. Employer pays a matching percentage up to 6%. So we pay 6% they also pay 6%. If we pay 0% they pay 0%.

We can pay more than 6% (I do) but we get no more from the employer.

Salary sacrifice available, which I use. We get half the employer NI saving on top of the employer / employee contributions. The employer keeps half their NI saving.

mgdavid

IT outsourcing and services;
up to 10% employee matched by employer.
Plus a bonus %age (about 4% IIRC) for a couple more years as a sweetener because they chucked us out of the final salary scheme.
Salary sacrifice is encouraged to save the NI.