What kinda pension contribution are you putting away?

Social
#23

me 20%, employer 3%

yes you read that right

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#24

:fist_right::fist_left:

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#25

I only started a pension when I was 38, and that is the compulsory work Nest pension. Up until that point I put all my spare money into saving for a deposit and on house renovations. Whether that was a sensible decision or not is a bit debateable in hindsight.

Currently itā€™s 3.5% of gross (me) and 2.6% of gross (employer).

This all changes this next month though, as I finally clear loans etc taken out for house renovations.

After that, itā€™ll be about 20% going into a private pension.

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#26

I pay 9.6% and my employer contributes 24%.

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#27

Think thereā€™s a not insubstantial chance of societal systems including pensions and retirement support as we know it being completely irrelevant come the time I hit retirement age and fully understand why someone would choose not to pay in. Canā€™t really live my life like that though sadly so pay in I must.

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#28

Blimey, some of these employer contributions are huge! 24%?!

Mine do a pretty lowly 3% with me adding 9% for a total of 12% (maths) - only upped my bit recently having just done the default (3% each) and realising I would be pretty fucked at retirement age the way I was going

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#29

Public sector/teachersā€™ pension. Goes some way to make up for salaries being lower than in the private sector and the shitty working conditionsā€¦! :smiley:

5 Likes
#30

I assume that most, if not all of those are public sector/NHS, or highly unionised sectors.

The trade off always used to be that comparable pay was lower than the private sector, but pensions were better.

3 Likes
#31

Yeah, kinda hoped it was that rather than just my specific employer being stingy!

Really need to try and get to grips with old pensions, getting everything in one place etc - tried to use a pension tracing service but itā€™s not going all that well atmā€¦

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#32

I pay 8.7% they pay 24%

#33

ā€œEmployerā€ lol

#34

This thread has already been eye-opening but I might have to mute for my own self-employed sanity

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#35

5% from me, 4% from Employer which seems terrible compared to everyone else hereā€¦

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#36

Are you USS? If so, should be same as mine.

#37

My new employer has set me up for NEST, previously used peoples pension. Not sure whether to move what I have overā€¦

#38

Looks like 4.5% from me, although I have no idea what my employer contribution is.

This has made me actually find the section of our intranet that has my payslips on. I donā€™t think Iā€™ve looked at one for about ten years.

[Edit, looks like I contribute 5% of my pensionable salary, and apparently my employer is currently contributing 27.3% of my "contributable pensionable salary]

#39

And before anyone points out (quite rightly) that I have the best deal so far listed in this thread (I think) I ought to point out that the unions at my workplace have ground the capital to a standstill today and those two facts might be somehow related.

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#40

And this in turn made me look back through my payslips, which confirm that in the ten years Iā€™ve been in my current job my headline pay has increased by less in total than the low measure of inflation for the last twelve months.

Why am I still doing this?

#41

For that sweet, sweet pension contribution

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#42

Well frankly youā€™re not wrong. That and the retired staff travel pass.

1 Like