Pensions??

[Bluebaron]

question?

with a money purchase pension that say your company puts in 15% and employee 15% does that mean that 30% (equivilent) of your annual salary goes in the pot?

ie if your salary is 50k then £15k a year gets saved. What sort of income would that give you after say 30 years.?

BB :confused:

[Scottie]

IT would be more than£15k as you'd get tax relief on your contribution at 40%. So if you put in £7.5k you'd have £3,000 refunded by the IR. So in effect you'd be putting in £18k.

BALPA have excellent IFA's (Independent Financial Adviser) who will help you understand this much better than I can explain it!

As for what your pension would be worth well speak to an IFA.

[hapzim]

Not a lot i'm afraid especially after Gordon's had a go at it.:yuk: let alone every thing else you have worked hard to achieve.