What you need to know about pension salary sacrifice scheme changes

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleRachel Reeves has announced that the Government will cap the amount of money people can contribute to private pensions via salary sacrifice before it incurs tax.The new limit for tax-free contributions through a salary sacrifice scheme will be set at £2,000. Any contributions exceeding this £2,000 cap will be subject to National Insurance contributions. This policy change is scheduled to take effect from 2029 and the measure is estimated to raise £4.7 billion in 2029/30 and £2.6 billion in 2030/31. Employers may offer salary sacrifice as part of their pension scheme as a tax efficient way to help workers boost their pots.In fullHow salary sacrifice schemes changes in Rachel Reeves’ Budget will affect youThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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