I know there's one or 2 involved in the financial sector and think Hazzy is a FA but don't want detail advice just any tips on best way to take a pension contribution from my employer, would it be better them paying into a company fund or straight into one of my existing pensions? Also want to chip in some more pension from my own salary again best into existing pension or into company scheme? Company pension is not up and running yet but the company said they'd hold my contribution to one side and then pay it in as and when the pension fund set up. Thanks in advance.

Edited March 26, 201511 yr by Mounts Kipper

Get as many shoe boxes as you can

Get as many shoe boxes as you can

Any of these shoe boxes you can put £60 in and receive £100?

Edited March 26, 201511 yr by Mounts Kipper

A company pension using salary sacrfice of your contributions is the future. On salary sacrifice you 'nominally' reduce your salary by the amount you pay in, so it is free of tax & NI.

If it is into a personal pension I'm not sure ytou can use the salary sacrifice option

I know there's one or 2 involved in the financial sector and think Hazzy is a FA but don't want detail advice just any tips on best way to take a pension contribution from my employer, would it be better them paying into a company fund or straight into one of my existing pensions? Also want to chip in some more pension from my own salary again best into existing pension or into company scheme? Company pension is not up and running yet but the company said they'd hold my contribution to one side and then pay it in as and when the pension fund set up. Thanks in advance.

 

 

See the post from Gonk re salary exchange, but try to put it into a decent pension.

See the post from Gonk re salary exchange, but try to put it into a decent pension.

Agreed, but talk to Ani also, he's good at this kind of stuff

At 30, with only 2 years of pension savings behind you what kind of percentage do you need to be putting in (own contribution + company).

At 30, with only 2 years of pension savings behind you what kind of percentage do you need to be putting in (own contribution + company).

Depends how much you want to have when you retire and at what age, if you are a homeowner, other savings/investments, lifestyle choices (more holidays?) and/or want to take a lump sum.

There are calculators on line that let you have a play with the numbers.

At 30, with only 2 years of pension savings behind you what kind of percentage do you need to be putting in (own contribution + company).

 

 

10% overall is a decent starting point and then build it from there

Mint. I'm at 24pc now so I can rest easy for a bit!

Mint. I'm at 24pc now so I can rest easy for a bit!

 

 

24% is a fuckin fantastic position at almost any age!

I'm at 13% (do we include the company contribution too?) but want to increase mine too. Tricky to get the right balance though

21.7% for this kid

Mint. I'm at 24pc now so I can rest easy for a bit!

 

Public sector?

 

I'm 18% (private sector, 6% me, 12% them)

I'm at 13% (do we include the company contribution too?) but want to increase mine too. Tricky to get the right balance though

 

If you look up any calculations on compound interest and long term growth of capital, trust me, you are far better to do it now rather than in future years. If you wait ten years, you'll have to pay in twice as much to catch up (very rough numbers).

If you look up any calculations on compound interest and long term growth of capital, trust me, you are far better to do it now rather than in future years. If you wait ten years, you'll have to pay in twice as much to catch up (very rough numbers).

Oh I'm completely bought into that but I pay into a few other things like shares and just need to balance the living month to month etc. Soon as I can I am bumping it up.

Mint. I'm at 24pc now so I can rest easy for a bit!

 

Blimey that's excellent. I wish I could afford to do that.

 

I'm currently paying about 10% into a pension, as well as making over payments on my mortgage

Private sector. I pay 8, company pays 16. No mortgage or savings any more but a fucking massive pile of used nappies that should come in handy one day.

 

Anewman will buy them off me no doubt once he finds Gartsides address.

My old firm was either you 6% them 12% or you 12% them 18%!!!

 

New firm is me 6% them 7% but they are paying me 50% more salary so it's all swings and roundabouts

Me 5%

Them 16.7%

I don't have one, Ive got a house I rent out but no pension.

I don't have one, Ive got a house I rent out but no pension.

thats prob your best bet if your self employed

but they are paying me 50% more salary so it's all swings and roundabouts

And that's why I reckon I'll still need to increase my contribution at some point unless I move company!

My old firm was either you 6% them 12% or you 12% them 18%!!!

 

New firm is me 6% them 7% but they are paying me 50% more salary so it's all swings and roundabouts

 

No hooky ice cream this summer?!

 

Have a couple of private pensions, not got around to what I can do with the new company.

 

Should really sort it as my original goal had me retiring 8 years ago!

Relying on a mix of property investments and two work pensions to sort my future out

I'm going to open a shop selling ornaments to all the old c*nts with pension pots full of cash and f*ck all else to spend it on...

 

Here's a taster of my wares.