If this actually comes to pass, Rachel Reeves is an ass. I've just read that it is likely that she will put an annual tax free limit on pension contributions and then, then, you will pay NICs. She really can't see further than next wednseday can she?
Believe it or not I asked for a similar story to be removed earlier, because it was a year old. She's obviously been keeping it in her back pocket 'just in case'
So it looks like DS will be cutting his hours and stopping paying into his pension, putting his money esewhere.
"Ms Reeves is preparing to extract an additional £2billion from retirement funds by imposing restrictions on salary sacrifice pension arrangements, as part of efforts to address a substantial gap in Government finances.
The Chancellor intends to establish a £2,000 annual limit for these schemes, with National Insurance contributions becoming payable on amounts exceeding this threshold.
These measures form part of the Treasury's strategy to generate revenue for a financial shortfall reaching as much as £30billion, partly attributed to anticipated productivity revisions by the Office for Budget Responsibility (OBR)."
Pension savings to be targeted in £2bn tax raid under Rachel Reeves's 'backward' Budget