If your employer will match contributions, put in the max – but no more.

If you've anything left to invest, choose a different vehicle.

One problem with pensions is that the money is tied up until retirement, and depends on the scheme/company staying solvent.

I use to put in 5%, my employer added 12% – but that was pretty good for a non-public sector non-final salary scheme. My staff were mostly on 2% and 4%, with the older ones on 3% and 6%.

Pension = savings
If you are disciplined enough to manage your own savings pot fine, if not get a pension

If your employer puts money in, get a pension, it's free money (mine puts in 10%)

Bear in mind that the Pension act 2007 introduced the "National Pension Savings Scheme" to replace the old SERPS, As far as I know this is an auto enrolment scheme for every employed person, where you will have to pay into either an accredited scheme, or into the government one. Most (all) employer schemes will be accredited. Who do you trust with your money the least? The government or a hedge fund manager?

Google it, as my details are a bit hazey from a presentation last year – blah blah blah government scheme, blah blah blah our scheme already accredited, blah blah blah – you get the picture

>Who do you trust with your money the least? The government or a hedge fund manager?

That is actually a tough call! 🙂

If your employer will match contributions, put in the max – but no more.

Why no more?