Originally posted by I just need to test it
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
How much do you put in your pension?
Collapse
X
Collapse
-
-
I'm impressed how much you lot are putting in - £1-2k per month!
Historically if a permie is putting in say £3k per year they DO end up with a pension at the end (plus state pension). Are you putting in much more purely because your standard of living is higher and you're used to a much higher income?Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
-
Rule of thumb from most IFA's 15% of gross salary, so include divi's in that as a contractor.
I'm currently chucking in £1600 a month through the company but only for the last 12 months, was £800 before that. Will be doing the sums on topping that up to the £40k limit before year end.
Have a couple of permie pensions as well but not huge amounts in them."Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.Comment
-
£1000 / month here. I increased it in October from £400 / month. I'll probably look to up it again in 5 years, dependant on situation.Comment
-
Originally posted by d000hg View PostI'm impressed how much you lot are putting in - £1-2k per month!
Historically if a permie is putting in say £3k per year they DO end up with a pension at the end (plus state pension). Are you putting in much more purely because your standard of living is higher and you're used to a much higher income?Public Service Posting by the BBC - Bloggs Bulls**t Corp.
Officially CUK certified - Thick as f**k.Comment
-
Originally posted by Fred Bloggs View PostDon't overlook the fact that a pot of £1 million curfently buys you an annuity of around £26k per year. Not exactly a kings ransom. In draw down, though riskjer, you can probably aceive aroynd £45k without excessive risk to capital. Food for thought.Comment
-
Never bothered with pensions. Overpaid the mortgage instead. Missed out on the tax relief but saved a shed load in interest over the years and happy with the outcome.Comment
-
Originally posted by DonkeyRhubarb View PostNever bothered with pensions. Overpaid the mortgage instead. Missed out on the tax relief but saved a shed load in interest over the years and happy with the outcome.
I didn't want all my eggs in one basket so have a few BTL's, overpaid the home, a bit in ISA's and 600 a month in to a pension. One thing it does do is make it difficult to know how much is enough though. As one poster said, no point being the richest person in the graveyard. That said I'm happy with my lifestyle and cutting back on the above isn't really going to make a huge difference.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
-
Originally posted by DonkeyRhubarb View PostNever bothered with pensions. Overpaid the mortgage instead. Missed out on the tax relief but saved a shed load in interest over the years and happy with the outcome."Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.Comment
-
Originally posted by kookachoo View PostWhat is drawdown? You can tell I have NIL pension!Public Service Posting by the BBC - Bloggs Bulls**t Corp.
Officially CUK certified - Thick as f**k.Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment