Salary sacrifice protections overturned by House of Commons

Earlier this month, the House of Lords voted on an amendment to raise the government's proposed cap on salary sacrifice pension contributions to £5,000, from the £2,000 initially proposed in the Autumn Budget. However, the House of Commons yesterday (23 March) overturned this amendment, as well as an amendment to exclude basic rate taxpayers from the measure. As such, the legislation is now set to return to the House of Lords for further consideration. The pensions industry previously praised the Lords move to increase the annual cap on employee contributions for full national insu...