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Plan to hit savers’ pension pots

Scottish Daily Express

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November 27, 2025

THE Chancellor announced plans to hammer hardworking Britons saving for their retirement with a £5billion raid on pension savings.

- BY CHRISTIAN CALGIE

Rachel Reeves confirmed plans that the Government will bring in a cap on salary sacrifice pension schemes from April 2029 — limiting the amount workers can save per year without incurring national insurance to just £2,000.

Condemned

The decision, revealed in yesterday’s Budget, will pocket £4.7bn for the Chancellor by the end of this parliament and forms a sizeable part of the “smorgasbord” of tax rises announced.

It was immediately condemned by experts as a tax on savers, and for causing yet more uncertainty for businesses.

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