Rachel Reeves confirms salary rule change with three million workers affected

Rachel Reeves represents Labour’s short-termism at its worst

When Rachel Reeves became Chancellor, she made a lot of promises about improving the long-term prospects of the British economy. She was meant to be ‘fixing the foundations’ and ‘unlocking investment’ to boost growth. And yet as figures emerge showing almost three million workers will be hit by her tax raid on pensions, it turns out that the very opposite is true. Reeves has come to represent short-termism at its worst – and will make the task o…

Almost three million Britons face poorer retirement under Rachel Reeves’ salary sacrifice raid

Almost three million Britons could face a poorer retirement under Rachel Reeves's planned salary sacrifice raid, according to newly released Government figures.

Rachel Reeves deals massive blow to 3 million Britons with pensions raid

Under the changes, workers will face a £2,000 cap on pension contributions via salary sacrifice before National Insurance (NI) becomes payable.

Rachel Reeves confirms salary rule change with three million workers affected

Government is planning a £5 BILLION raid on salary sacrifice schemes from 2029.

Reeves's salary sacrifice raid to leave almost three million poorer

New FOI reveals ‘nearly 3m workers’ expected to reduce pension saving after salary sacrifice changes – Steve Webb, LCP

A Freedom of Information (FOI) request to HMRC by LCP Partner Steve Webb has revealed that more than 2.8m workers are expected to cut back on pension saving once new restrictions on salary sacrifice come into force in 2029.  This comes in the month when the Government’s Pensions Commission estimated that around 15 million people of working age are under-saving for retirement even before this new policy comes into force. The policy in question is…