PFRDA

How many percent of your salary should you contribute to your pension fund?

No in the uk

Public Comments

  1. as much as you can afford..
  2. I think you are referring to your 401K? The pension is provided by the employer, you can't put into it. The 401k, on the other hand is employer sponsored, and the least you should put in is the max your employer will match. For example: many good employers will OFFER to match what you put in, up to a maximum of six per cent of your gross wages. If you make $2000 a month, you could put in $120, and the employer will put in $120. Right there you have made 100% profit. If you chose to put in more, that is very good too, but the employer would still only pay in the 6%. Caution: NEVER, NEVER, NEVER, never.....take out or borrow from your 401k until you are 59 1/2, or better yet until you retire. You will be taxed in the range of 44% penalties and taxes. It would be better to stop putting into the 401k for awhile than to borrow money from there.If you can budget for it, the most successful people budget at least 15% for retirement.
  3. imho, 15%. from this subtract any contribution directly from your pay packet for government sponsored social insurance. Don't deduct the portion paid by your employer, tho.
  4. Rule of Thumb is 15% total. That total can come from different sources. Example: 7% into a personal retirement account, and 8% in employer retirement.
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