Salary sacrifice shake-up: what it means for staff and employers
From 2029, workers will only be able to pay £2,000 into the scheme and receive tax relief
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

Treasury plan to cap relief on pension contributions is set to raise £2bn a year

Dismembering salary sacrifice is a short-sighted tax grab that will accelerate the UK’s retirement savings crisis

Companies are also watering down ESG elements of pay plans as boards reassess whether such awards ‘make sense’

Law bolsters unions, upgrades protections and strengthens enforcement, but it will take years to thrash out details