How much should you contribute to your pension?

There is no single perfect contribution rate

The right pension contribution depends on your age, income, employer scheme, retirement goals and how much you have already built up. A useful answer starts with your own situation.

Starting earlier usually helps because contributions have more time to grow. Later contributions can still be valuable, but they may need to be larger to reach the same retirement target.

Employer contributions matter too. If your employer matches some of what you pay in, not using that match can mean leaving part of your remuneration behind.

The best approach is often to choose a sustainable contribution, then increase it over time when income rises or other costs fall. Consistency can be more powerful than waiting for the perfect moment.

Helpful checks

• Know what your employer contributes.
• Check the tax relief available to you.
• Estimate the income you may need in retirement.
• Increase contributions when affordable.
• Review your pension at least once a year.