Please Rachel, don’t sacrifice workers’ pensions
Dismembering salary sacrifice is a short-sighted tax grab that will accelerate the UK’s retirement savings crisis
Dismembering salary sacrifice is a short-sighted tax grab that will accelerate the UK’s retirement savings crisis

Expected move by chancellor Rachel Reeves next week faces strong pushback from businesses

From 2029, workers will only be able to pay £2,000 into the scheme and receive tax relief

Cap on national insurance relief set to raise £4.7bn in 2029-30 and £2.6bn in 2030-31

Fears of higher levies and loss of benefits prompt employees to make career decisions to stop their incomes rising

Move would reduce tax benefits from salary sacrifice pension schemes as chancellor aims to fill fiscal hole

With each economic shock, it ratchets up the value of state retirement payments relative to average earnings