Senior pension experts have said they doubt HM Revenue & Customs’ (HMRC) figures relating to salary sacrifice uptake, which state 7.7 million people currently use the pension saving method.
Chancery Lane managing director Doug Brodie said he struggled to believe the official figures after examining the statistics produced by HMRC, released to back up the chancellor's decision to curtail salary sacrifice limits in the recent Budget. Rachel Reeves used her 26 November speech to put a £2,000 limit on the salary sacrifice national insurance contributions (NICs) exemption. The salary sacrifice contribution method sees workers give up part of their salary in exchange for pension contributions. Government figures state 7.7 million people use salary sacrifice, and of these, 3.3 ...
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