DC Pension Contribution rates

LuasSimon

What sort of payments are people getting if there employer pays pension contributions .
My employer pays 8% in and will match another 4% so for my contribution of 4% I’ve 16% going in each month .
Is this above or below normal ??

L1011

Vastly above normal. Matching to 5% is the norm.

Some US tech firms go higher, some places that have replaced a defined benefit scheme go higher; some places with strong unions go higher but 5% personal + 5% company is the norm. And probably nowhere near enough for most people!

skippy2

Dont ever leave :-)

franglan

Was at a recent pension talk where we were told the average national total contribution percentage (employer + employee contributions) was 11%.

homer911

I'm in a high tech company where the minimum contribution rate for an employee (once they opt in) is 3%. The company will match contributions between 5% -10% (depending on the grade of the employee). I can also make AVCs

dennyk

My employer matches our contribution +2% (e.g. we contribute 3%, they contribute 5%), up to a 5% employee contribution (at which point the employer contributes 7%). We can also add additional AVCs as well, though there's no further matching on those. Overall it's a pretty good deal and a bit better than the norm.

amcalester

I pay 3% employer pays 6%.