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pension advice ( please help! )

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Comments

  • xylophone
    xylophone Posts: 45,964 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Pay in as much as you need to get the employer's contribution.

    See if you can get hold of some information about your pension scheme.

    Do start to build up an emergency fund.

    Are you using the best bank account for your needs?

    Here is some information about the new state pension.

    https://www.gov.uk/new-state-pension/overview

    You are on a modest income - are you receiving tax credits of any kind?

    http://www.entitledto.co.uk/help/tax-credit-pension-contributions
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    I'm going to go against received wisdom and most comments here and say forget a pension, practically speaking you aren't earning enough to make any difference at all.
    Concentrate on getting a better job with more money before you think of a pension,
  • atush
    atush Posts: 18,731 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    No one can tell you how much to put in, until you do a bit of work yourself like picking up the phine, calling HR and ask about the company pension.

    W/o that infom, repeating above advie- try to put in enough to get max pemploerys pension This will rise as your salary and hours go up.

    Also, recvied wisdon is that you should put in half of your age by % which can include your tax releif and employers contribs. So a min of 13% of your salary.

    But, as said, if you are living day to day yo really need to build up an emergency savings pot.
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