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Is 7% pension from an employer decent?


I have a job interview tomorrow and they list a 7% contribution as a benefit. Wondering if this is good? It’s only for a 22k a year admin job, so nothing fancy where I’d expect to be treated fancy. I can’t remember what contribution my current employer does, but don’t think it is this high.


Someone answered:

7% is good. The legal minimum employer contribution is only 3%. Whatever employer you decide to go for, you should definitely aim take full advantage of their pension contributions by contributing the requisite amount from your own salary.

Someone answered:

It's mad when us youger people start to consider pensions, it's something we don't really have to look forward to. Pensions 20 years ago would average around 7-8% many places, public sector, even more. My dad received more than 11% working for the fire-service, and matched it. Now my rents live like monarchy (large exaggeration but they paid the mortgage and a chill af)

I work tech recruitment now, and 5-7% is good, any more than that is excellent, and if a company still pays 10%, then they really give a shit about you and hopefully you can stick around for a while!

Hopefully the legal minimum goes up to 5% soon (and the norm is to match it), as it's important for a population to be able to support itself when it reaches retirement age, and I wonder if a lot of people my age (26) and younger don't pay enough attention to the importance of saving, budgeting and getting yo' ass a decent pension!

You good though.

Someone answered:

My employee does 7% which ups to 8% if one contributes more than 7%.