Can anyone suggest a suitable method of calculating the % DC contribution required to compensate for the loss of a 40/60 Defined Benefit pension.
I can contribute up to 5%, but what level should my employer be contributing at to compensate me for the loss of the DB Scheme?
Is there a calculation that can be made on this to get a feel for whether or not there will be a shortfall, if say the employer contrib. was 7%?
What information would I need to make a case for a higher level of contribution?
I can contribute up to 5%, but what level should my employer be contributing at to compensate me for the loss of the DB Scheme?
Is there a calculation that can be made on this to get a feel for whether or not there will be a shortfall, if say the employer contrib. was 7%?
What information would I need to make a case for a higher level of contribution?