How much you save regularly into your pension will depend on your employer’s pension scheme rules and employee benefits programme, but there are legal minimums that employers and employees must pay in together.
Whatever you and your employer are contributing, it is important to understand that this amount is not based on your personal circumstances or linked to any plans you might have for retirement. For example, if you want to retire early, if you started saving into a pension late, or you want to have a very comfortable retirement, you might want to consider paying in a bit more.
Saving extra into your pension is known as making an ‘additional voluntary contribution’, which is made in addition to your normal regular contributions. If you want to start making additional voluntary contributions to top up what you pay into your pension on each pay day, you will need to speak to your employer.
Your employer will arrange to collect this extra money from your salary each time you are paid, so apart from confirming with them how much extra you want to pay, there is nothing else you need to do – everything is taken care of for you.