What % of salary do you put in your pension per month and why?

robaber

My contribution is 6.8% and my employer puts in 14%. I voluntarily add in another 2% via an AVC programme. So 22.8% in total.

Using an old rule of thumb. I started the pension at 26/2=13% minimum contributions. So I am over the minimum.

DrEskimo

I pay in 25% and employer 5%, so 30% total. This was to keep below the £40k allowance, but thinking of increasing now the annual allowance has increased to reduce tax further, as still hitting the HRT threshold.

I’m mid 30s and haven’t really paid into a pension until the last few years (a few years in a BD pension and did a PhD so didn’t earn enough, but nothing substantial), so trying to play catch up whilst I can afford it. 

VNX

Pre covid my pension wasn’t too bad sadly lost my job due to covid and now my pension is rubbish, employer puts in just 3pc and this is fixed I pay 5pc but can increase to anything so when my mortgage deal ends and I make an overpayment I’ll be upping this from 5pc sadly my employer 3pc doesn’t change 

hjghg5

For the past few years I've been paying in 20% with a 4% employer contribution. I've just had a payrise and upped it to 25%, when my mortgage ends in September I might increase it more. I'm almost 45.

retiringtoosoon

i put in 55%, employer 6%
43.5 yo
£480k pot atm
retiring in 9 years time at 53.

Nebulous2

I'm retired already but took a part-time job. It has an NHS pension scheme. I pay 9.8% employee contributions and also pay £500 a month gross into a SIPP. 

My income varies a bit, but I'm contributing about 68% of my current income.

older_and_no_wiser

retiringtoosoon said:

i put in 55%, employer 6%
43.5 yo
£480k pot atm
retiring in 9 years time at 53.

I think this is more relevant information for us (nosy ;-) ) people; not just how much we're putting in but what age we are, what our current pot is worth and when we are planning to retire. Also what our annual living expenses are expected to be in retirement.

Here's mine....

I'm 55 in September
I put in around 30% via salary sacrifice (£1500 per month)
Current pot (including ISAs and cash savings) £540,000
Plan to retire in around 3 years on £25k a year

dcs34

28yo. I pay 7% as this matched the max my private employer will pay at 7%.

When I was looking likely to become a HRT I did think about upping it massively in order to stay a BRT (and keep the perks like £500 extra tax-free interest) but decided money available now to pay into a LISA / house deposit would be worth more overall. Maybe not the right sum mathematically but psychologically I needed to feel my work was leading to me earning and actually having more money!

Cornish_mum

Age 43 (USS)

9.8% of salary up to ~41k to access employers DB scheme.
9.8% of salary from 41k upwards; plus currently an additional 21% of total salary into employers DC scheme.
All by salsac.

Why to avoid HCBT charge & generate DC pot sufficient to retire at age 58-60 & if growth/DB sufficient also withdraw a significant 25% TFLS for another nonessential purpose.

snappyfish

Absolutely nothing.