Rachel Reeves‘s £5billion pensions raid could leave almost three million workers with less money to live on in retirement, a freedom of information request has revealed.
The Chancellor announced in November’s Autumn Budget that she would be limiting the amount workers can pay into their pensions via salary sacrifice schemes.
The Treasury is set to cap such contributions at £2,000 before they become liable for National Insurance.
That means anything over that figure would be charged at eight per cent on basic rate earnings, up to £50,270, and two per cent above that in the higher rate thresholds.
Reeves’s team say they are looking to stop
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