Typical Employer Pension Contribution

S

shipship

Registered User
Messages
60
I'm wondering is there data about the level of employer pension contributions in Ireland.

Most of the surveys I've found don't specifically split out employer contributions.

I'm curious because I work for a large successful mnc and they offer 5%. I've heard other large companies offering significantly more, although there's likely a bias here that you're more likely to hear about the better deals.
 
The companies where there was previously a DB scheme tend to offer the very high ones eg 15%. I have had a variety across multiple roles, from 5% to 15%. So few people consider it as part of the package that employers don't tend to compete on it when recruiting.

Current firm has a rewards portal that shows the entire package, including monetary values for all benefits. It is a simple and very effective tool to highlight that your compensation is not just your salary.
 
So few people consider it as part of the package that employers don't tend to compete on it when recruiting.
Click to expand...

That's likely very true, maybe it's only something that more older and more senior people negotiate on.

Most people in my place don't take up the 5%
 
In my experience, most MNC's offer a range of options depending on how much you contribute yourself. I have no doubt that for senior execs, it is probably more. 5% is low but I've seen it as low as 2%
 
5% was the best that I ever got over several tech startups and multinationals.

Multinationals usual offer additional incentive schemes like ESOP, ESPP etc. and any profits from these could be used by the employee to boost their voluntary contributions.
 
Last edited:
In more senior roles it tends to be 10-15 percent in my experience, in my company we do up to 10 matched for all staff which is good, once you can get the young uns to take it up!!
 
I've had 5% from a small Irish business and working remotely for an American firm with a small European footprint.

I feel in both I could've negotiated more match at the expense of salary when first joining, but total comp would've stayed level.
 
10% used to be a standard enough contribution for decent employers 15-30 years ago, even for American companies, in the last 15-20 or so years there has been a big move away from it to offer very low pension contributions of 5% or so, offset by higher tech salaries and share options. Which suits employers and also looks better at the time to employees.

The lowest I’ve ever had is 8%, mostly been at 10%, and last 15 years in current role is 13-15%, this is matched by an increasing required employee contribution also starting at minimum 5% up to max 8%. Basically it’s designed so that anyone working for a long time with company will have a decent enough pension built up even without AVCs.
 
Currently working for an American MN and they will double your contributions up to 12% there end. So happy to ride this train till i retire.
 
Peanuts20 said:
most MNC's offer a range of options depending on how much you contribute yourself. I have no doubt that for senior execs, it is probably more. 5% is low but I've seen it as low as 2%
Click to expand...
Yeah, I've seen a few advertised benefits packages from the MNCs, and they're written to look impressive but they're not great.
 
When I was in a DB scheme years ago, I found out that one year the company paid 29% of salaries.

The best DC I had was 12% company contribution plus up to 4% match
 
Fortune said:
No free money for them!
Click to expand...
I recently spoke with a friend/former colleague who simply can't convince some of their colleagues that participating in the company ESPP is a no brainer - the equivalent of at least 10% gross deposit interest guaranteed on up to 10% of the employee's gross income. And more if the share price is rising.
 
ClubMan said:
a friend/former colleague who simply can't convince some of their colleagues that participating in the company ESPP is a no brainer
Click to expand...
A colleague of my husband spoke to a financial about his scheme. The advisor didn't believe it was not taxed. (Except for cgt)
I must say these schemes are not always clearly explained to employees. It took us a few years to understand that there was a possibility of foregoing wage in one of these schemes as very little information had been provided while in another company clear information is provided yearly.
 
Between 8-12% for me.
If I contribute 5% they will do 8%. Need to contribute 8% to get 12%. Which I have done since day one.
 
You must log in or register to reply here.
Menu
Log in
Register