Rachel Reeves’ £3–4bn ‘Pensions Tax Raid’: How a £2,000 Salary Sacrifice Cap Could Hit Your Retirement (22 November 2025)
On the eve of the Autumn Budget, pressure on Chancellor Rachel Reeves is intensifying over plans to clamp down on salary sacrifice pension schemes – a move now expected to raise between £3bn and £4bn a year and potentially shrink workers’ future pension pots by tens or even hundreds of thousands of pounds over a lifetime. Financial Times+2Reuters+2 New briefings today (22 November) and fresh industry research show: At the same time, providers like Fidelity, pensions bodies and business groups are scrambling to explain what salary sacrifice actually is – and who will really pay the price if Reeves presses