Pension contribution for 25 year old

DavidLaGuardia

muckell wrote:

I was under the impression that the limited that you can pay in for the age of 25 was 17.5%? I've been paying in 17.5% for a few years now and wanted to up it but was told by the pension company that 17.5% was the maximum cap that i could contribute for my age.

Which pension providor are you with? mines fidelity.

There is some confusion between personal and occupational pensions here.

Forgetting about the changes next year:
Personal Pensions, including Group Personal Pensions offered at somework places (which understandably some people refer to as their "company" pension) have a max contribution from all sources of £3,600p.a. or, where greater, a percentage of earnings based on age (17.5% up to age 35 at the start of the tax year, 20% from 36-45, and increasing there after by 5% every fiveyears to a max of 40% at 61 or above)
Occupational Pension schemes can also be based on the performance of funds into which premiums are put (contrast with final salary schemes that have defined benefits). The maximum contribution by the employee is 15% of ALL earnings linked with that employment (this can include things in addtion to basic salary such as taxable benefits in kind like cars). There is no restriction on what an employer may put in, however the final benefits are restricted according to earnings and years of sevice with the employer (irrespective of time in pension scheme)

dunstonh

Which pension providor are you with? mines fidelity.

Fidelity do occupational defined contribution schemes, not personal pensions.