Very grateful to have made it! Now to the future!

MetaPhysical

Albermarle said:

MetaPhysical said:

Employer pension contributions are oft-overlooked but a generous employer pension scheme is one of the most valuable benefits you can possibly get. A few extra hundred quid a month early in career can amount to hundreds of thousands of pounds of extra pension come retirement time.

Yes and there can be wide differences of employer contributions even with DC, from 3 % to 20% ? ( although the latter is not all typical) Even the difference between 3% and 8% can make a big difference long term, especially if you match the 8% from a relatively young age.

I'm getting 13% employer (private sector DC scheme) as against the 30% I am current paying.  If I paid a more modest 10% then employer would be 8%.

A generous employer pension contribution is a very, very valuable component of a remuneration package.  It is often overlooked since it isn't money you can spend now but if often decades away and so is often not deemed important compared to salary, health care, company car choice, etc.
I encourage all my young people I work with to be aware of this and to get pension saving ASAP and as generously as their circumstances allow,, which often isn't easy for them, I concede.