Typical Company pension contributions?

Gatser

roobers wrote: »

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.

Companies should always provide (enhanced) Salary Sacrifice.. it costs them nothing and would encourage more to save in a pension...thereby reducing the burden on the government in the long term.
It's amazing how even large companies pay little attention to the quality of their pension offerings ...

Employer contributions? I have experienced (in last 5 years): 20% ... 6% ... 11%
Personally I believe it should be 10% (minimum £2,000 on full time basis)

coastline

It obvious it varies from place to place...any contribution is a bonus considering final salary pensions are on the way out...
A bigger problem may be ...wheres the money invested with your company....have they done their homework or do they just hire a pension fund management company to invest on your behalf...eg..L&G...Pru etc..
Performance is always key in pensions considering many a defensive to start with....and they aren't always portable when you take up another job...
If you've got the choice as to which provider you invest with..then a bit of homework might compensate for the 3% from your employer..

dano17439

I work for a charity and we get 3% but i have to at least match it. my wife works for a asset management company and she gets 7.5% non contributary

BobQ

The question of whether your current employer pays more or less pension than your previous one is irrelevant. Just think of your employers contribution as additional to your salary and add them together for comparison.

StephenM_2

I'm still in a final salary scheme, but the defined contribution scheme for new starters has a 10% employer contribution regardless of what the employee chooses to contribute.

Peter314

Legal services firm, about 15 employees: 7.5%, no employee contribution required.

opinions4u

Just read the whole thread.

The vast majority of posts reflect the truth. Most people who make contributions to a pension scheme are putting nowhere near enough away for a sustainable retirement.

Even a combined contribution of 15% of salary is going to lead to a retirement fund that is less than you'd like. But keep contributing.

JoeCrystal

Not necessary, opinions4u. If people are young like in their twenties, they might get away with 15% contribution.

Cheers

Joe

somethingcorporate

FTSE100 blue chip tech company.

I pay in 9%, employer matches 9%.

My opinion is that fund performance is largely irrelevant compared to the importance of how much you put in.

ClaretHead

Medium - sized IT Software Services Company - they pay 8% of salary, I pay 3%. And as of April 2012 they have switched to salary sacrifice for the NI savings.