Majority of advisers think NI cut will not boost pensions savings

During a webinar hosted by M&G Wealth following the Spring Budget attended by over 800 advisers, advisers did not expect the tax cut that is worth around £450 per year to a worker on an average salary of £35,000 to be invested in long-term pensions savings. In the Spring Budget, chancellor Jeremy Hunt cut NI by a further 2p. The latest reduction follows the initial 2p reduction for 27 million workers in the 2023 Autumn Statement. The majority (83%) of advisers said they do not think people will use the extra cash generated from the latest cut in NI to invest more in pensions savings. ...