What % do you pay?

AnxiousTheElephant
AnxiousTheElephant Posts: 94 Forumite
First Anniversary First Post
in Pensions, annuities & retirement planning
Just wondering what % everyone pays into their work pension?

My employer sets us up at 5% but I'm debating increasing this..
https://forums.moneysavingexpert.com/discussion/6141579/future-is-bright#latest
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Comments

  • jefaz07
    jefaz07 Posts: 546 Forumite
    First Post Name Dropper First Anniversary
    What does your employer contribute?
  • bolwin1
    bolwin1 Posts: 248 Forumite
    First Anniversary First Post Name Dropper
    Currently paying in 11% & employer puts in 5%. I started paying into a pension scheme at the age of 21 & have always paid more than the minimum. I'm 54 now & will comfortably be able to retire at 60 & possibly 2-3 years earlier then that.
  • AnxiousTheElephant
    AnxiousTheElephant Posts: 94 Forumite
    First Anniversary First Post
    At the moment 3% but after 12months service (currently at 4months) they increase to 10%
    https://forums.moneysavingexpert.com/discussion/6141579/future-is-bright#latest
  • rawhammered
    rawhammered Posts: 118 Forumite
    First Post
    30% me
    12% er
  • MallyGirl
    MallyGirl Posts: 6,599 Senior Ambassador
    Photogenic First Anniversary Name Dropper First Post
    50% me, 10% employer - 52 and planning to retire at 58
    I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
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  • JoeCrystal
    JoeCrystal Posts: 3,008 Forumite
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    I pay 3% of my income above the qualifying earnings of £6,136 and my employer pay in 5%. I used to pay 17% of my earnings on top into my personal pension but reduced it to 8% as I am focusing on paying off the debts. So 16% overall.
  • ffacoffipawb
    ffacoffipawb Posts: 3,593 Forumite
    Name Dropper First Anniversary First Post Photogenic
    75% of full salary via salary sacrifice in the 3 years prior to early retirement.
  • Novice_investor101
    Novice_investor101 Posts: 873 Forumite
    First Anniversary First Post Cashback Cashier Energy Saving Champion
    I pay 8% & my work pay 14%. I'm 37 & this is my only DC scheme. I paid into a DB for 10 years until it was closed & transferred its replacement DC pension (3 years worth) into my current works DC when I moved jobs.

    It's salary sacrifice, so I'll be upping my contribution to 10% when the annual payrise comes round next year. Works will stay at 14%.
    I also pay £200 a month into a LISA. I'd get more for my money if I Sal Sac this into the pension but I want to build as much flexibility as I can for tax free income in retirement (aiming for 60) & I can only pay into a LISA for another 13 years.

    I'll increase my pension payments once I get to 50, when the LISA payments will stop & my mortgage will be gone.
  • sheslookinhot
    sheslookinhot Posts: 1,973 Forumite
    Name Dropper Combo Breaker First Post First Anniversary
    9% for me and 15% from company, 1 1/2 years to start collecting.
    Mortgage free
    Vocational freedom has arrived
  • ex-pat_scot
    ex-pat_scot Posts: 691 Forumite
    First Anniversary Photogenic First Post Name Dropper
    Everything I can.
    £40,000 (roughly 35% of salary) combined from employer and I, under salsac. Employer is 8% (plus a bit of saved NI) - roughly £10,000.
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