Salary sacrifice: Pension tax break reduced by chancellor

Some pension savers will face a hit to the amount of money they can put into their pension without paying national insurance (NI), under measures announced in the Budget. From 2029, there will be a cap of £2,000 per year that can be shielded from employer and employee NI contributions by using a method called salary sacrifice.There is currently a much higher limit to the amount a worker can agree their employer…