Should I add some more (not lots) towards pension
homealone_2
Posts: 2,004
Forumite
I have whatever I would be due for 3 years working in a bank many years ago. So not expecting much from them in pension. Then broke back working elsewhere. Where I receive, half of my part time salary which is £400 a month from an income protection plan they hold. Along with this they pay £80 a month onto my pension plan, but none taken from me. I have paid all NI so will receive state pension in about 10 years. I worry that this won't cover my needs as a disabled person. I receive statements showing where pension is, but only shows a £999 annual pension.
Sorry if waffle, question is if I could add some to this monthly contribution would it, at this late stage, being 55, be worth adding. I could maybe add £80 per month?
Sorry if waffle, question is if I could add some to this monthly contribution would it, at this late stage, being 55, be worth adding. I could maybe add £80 per month?
0
Comments
-
First of all have you got a state pension forecast to double check your assumption about this,.
Then yes, it is worth investing in your future. If you pay in £80 a month, this will be made up to £100 by the tax relief added.No.79 save £12k in 2020. Total end May £11610
Annual target £240000 -
3 years working in a bank0
This discussion has been closed.
Categories
- All Categories
- 342.5K Banking & Borrowing
- 249.9K Reduce Debt & Boost Income
- 449.4K Spending & Discounts
- 234.6K Work, Benefits & Business
- 607.1K Mortgages, Homes & Bills
- 172.8K Life & Family
- 247.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.8K Discuss & Feedback
- 15.1K Coronavirus Support Boards