Pension contribution % at IB vs hedge funds

[ContractorBanking]

It's been a while since I was a permie but what are the typical pension contribution rates at tier 1 IB these days and US hedge funds?

I was at RBS in 2006 where they contributed 13% into your pension.
In 2008 I was at Barclays where their contribution was 10%.

I've been applying for permie roles and expecting to get two offers - IB in Canary Wharf and a hedge fund. I'm in my mid-40's so pension contribution is high on my list.

No idea on the hedge fund pension contribution but I've seen rates around 3% in financial services (non-IB) so have no idea on the going rates at hedge funds. I hope this is not typical as its abysmal.

Anyone have any recent experience on pension contribution rates, would love to hear.

[eek]

It depends on what that firm thinks is enough.

so it may be little or it may be 80% of your salary (which is roughly what the Bank of England offers from distant memory).

[TheDude]

It's been a while since I was a permie but what are the typical pension contribution rates at tier 1 IB these days and US hedge funds?

I was at RBS in 2006 where they contributed 13% into your pension.
In 2008 I was at Barclays where their contribution was 10%.

I've been applying for permie roles and expecting to get two offers - IB in Canary Wharf and a hedge fund. I'm in my mid-40's so pension contribution is high on my list.

No idea on the hedge fund pension contribution but I've seen rates around 3% in financial services (non-IB) so have no idea on the going rates at hedge funds. I hope this is not typical as its abysmal.

Anyone have any recent experience on pension contribution rates, would love to hear.

Deutsche offered a flat 11% for a perm position (which I declined) - it used to be 20% at my age.

[ContractorBanking]

Deutsche offered a flat 11% for a perm position (which I declined) - it used to be 20% at my age.

20% is very geneous, that's awesome.

Are you saying the employer pension contribution varies with age, the older you are, the more generous the employer's input?

[eek]

20% is very geneous, that's awesome.

Are you saying the employer pension contribution varies with age, the older you are, the more generous the employer's input?

Which part of used did you not grasp.

[ContractorBanking]

Which part of used did you not grasp.

it used to be 20% at my age

[eek]

it used to be 20% at my age

Yes it used to be the case that percentages differed with the age of the employee but it’s no longer the case.

[DelboyTrotter]

Currently employers 10.8% at an investment management firm in the city, no matching of any employee contribution: just 10.8% and you can throw in what you want.

I know of another investment management firm that makes a 16% monthly contribution and matches these contributions up to 2% as well as make an additional contribution equal to 10% of the monthly amount you pay. So if you paid 2% of your salary into your pension each month, you’d receive a contribution from the company of 18.2% on top of that.

[NowPermOutsideUK]

I just took a role back in London now. Financial services. Salary is high as perm but pension is 3% from employer!

[mattster]

I know of another investment management firm that makes a 16% monthly contribution

Sounds generous, but is it really a "contribution" or is it just the employer's NI that they no longer have to pay? I think the maths for what they pay in NI (13.8%) with respect to your salary would work out at nearly bang on 16%.