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What % of salary do you put in your pension per month and why?
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National Living Wage is £10.42 per hour so ~£18k paqsk said:I read that you cannot contribute an amount such that your earning after salary sacrifice goes below minimum wage.
What is the (annual) minimum wage for a typical full time worker?
No one has ever become poor by giving1 -
I add 28% via salary sacrifice, and my employer adds 3%. I plan to maintain this for 5 years total (I'm 1 year in) to try to catch up. At 37 I only had around £8k in my pension and basically panicked. I plan to have £85k by the time I'm 42 and then I will go part time and ease off the gas£12k in 25 #14 £15,140.07/£18k 24 #14 £15,653.11/£18k 23 #14 £17,195.80/£18k 22 #20 £23,024.86/£23k0
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Im 35 and contribute 30 % with my employer adding 3 % in a DC Pension with Nest.
Contributing this much as I want to reduce tax burden on, set myself up for a better future and options. I would like to move abroad in a few years, which means that a front loaded Pension has time to grow, esp when not contributing at that stage.
We are also saving/investing outside of this which will hopefully help to reach the target quicker.0
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