How much is a good amount (% wise) to be putting into your pension pot? Would be good to hear at different salary brackets!

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Max out reduce tax liability and company matches it’s free money

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Depends on your age but yes as you earn more , I would put in more

When I was at 40k, I would put maybe 5% and company match the same

Now I do 10% and company same

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40k not a penny less not a penny more.

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Another nuance is the taper which kicks in at £200K. If you make more than £240k you can only contribute £4K per year.

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As a (very very) rough rule of thumb, Martin Lewis suggests that whatever age you start making pension contributions at, take that number and half it to get the % you should be putting away if you want to maintain your standard of living after retiring. E.g. if you start at 24, you should be saving 12%. If you wait until you're 36, it'll need to be 18%

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Yeah I reckon that's sensible enough. I've always tried to do it without the employer contribution but I'm probably too ascetic.

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Wow in 🇺🇸 we can only do $20k per year

Ya it's an insanely screwed up system

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