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Rachel Reeves plots stealth tax raid on retirement savings for budget: The Times

Chancellor Rachel Reeves plans pension tax reforms including inheritance tax on pension pots and limits on salary sacrifice schemes to raise £2 billion annually.

  • 1- Chancellor Rachel Reeves is reportedly considering limiting the tax break on salary pension contributions in the upcoming Budget. 2- A proposed cap would mean employee pension contributions above £2,000 a year incur national insurance payments. 3- The change could generate up to £2 billion annually, according to The Times.
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GB News broke the news in London, United Kingdom on Friday, November 7, 2025.
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