What % of wages for pension

[dodo]

My boss is going to give me my pension as part of my wages as I have my own pension. This arrangement suits me what is a fair % that I should expect to receive as he will work it out and tell me next week.So I want to be ready to pounce if he is coming up short,

 

[ClubMan]

You mean you are on an existing salary and your employer is going to give you a salary increase by paying money over and above that into a pension plan for you (gross - i.e. without any tax or PRSI deductions)?

There is no meaningful answer to your "what is a fair %" question in my opinion. The higher the better from your point of view.

 

[dodo]

Yes increases happen every January,but I heard from another worker if you want more cash outside the normal January then you ask him for a contribution towards your pension which he does not do at the moment, I was think around 4-5% just hopimg there was some % way you can work it out

 

[ClubMan]

Where employers contribute to pensions on behalf of an employee the amount can vary significantly. In the past I've had employers contribute 3%, 5% and (my currently employer) 6% - in all cases contingent on the employee at least matching this amount. Make sure that any contribution qualifies for full tax/PRSI relief (i.e. the total of all contributions - your existing contributions plus the employer contribution doesn't exceed your age related tax relief limit) and is paid gross directly into the fund via payroll (i.e. relief at source). Remind your employer that any money paid into the pension fund "saves" them 10.75% (?) employer PRSI so maybe they might like to forego this saving to increase the contribution. No harm in trying! If in doubt get independent, professional advice.