What Percent Contribution Should I Give My Pension, By Age?

Do you feel secure about your pension?

A 2025 survey by the Financial Conduct Authority found that a third of people have less than £10,000 saved in their plans, which has been described as “worrying”.

And in a recent pension special of the Martin Lewis Money Show, the expert said he has a “rule of thumb” that “scares the pants off everybody.”

A viewer asked, “Whilst I want to put more into my pension, I don’t want it to affect my quality of life in the here and now. Is doing 15% contributions as someone in [their] mid-30s enough?”

Lewis replied that the viewer was doing “really well” with that percentage.

Then, he added, “Let me give you the rule of thumb that scares the pants off everybody.

“Take the age when you start putting into your pension, so in your case, we’ll say 30.

“Halve it, that’s 15 [percent contribution]. That’s how much of your income you want going in for the rest of your life for a decent retirement. Very few people ever get there.”

The “real reason” for the advice, he continued, is to illustrate that “the earlier you start, the better… retirement… you’re going to have”.

Of course, he explained, this is in tandem with your State Pension.

The Government has a State Pension Forecast, which will tell you how much you may be entitled to from the government when you reach retirement age.

You can also check what your private pension may be worth when you retire.

These combined figures should tell you roughly what you can expect to bring in a year once you get your pension.

Legal & General said, “The happiest retirees have an average total monthly income of £1,700”.