National Insurance Cap on Salary Sacrifice Pensions
Update: 2025-12-04
Description
From April 2029, new rules will cap National Insurance exemption on salary-sacrificed pension contributions at £2,000 per year. This change, announced by Rachel Reeves, may impact around 7.7 million people, potentially increasing their tax bill. While basic rate taxpayers might not be significantly affected, financial experts advise reviewing pension strategies. Maximizing salary sacrifice contributions before the cap or discussing pension planning during pay reviews could help mitigate the impact. Despite the changes, pensions remain a tax-efficient retirement savings option.
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