Context
The Chancellor's Budget imposed a £2,000 cap on salary sacrifice for pension savers, raising an extra £4.8 billion in 2029 and affecting 3.3 million savers and 290,000 employers.
Question
What research has the Pensions Minister done to understand and quantify the negative effects that this cap on salary sacrifice will have on pension savings?
Answer from The Parliamentary Under-Secretary of State for Work and Pensions (Torsten Bell)
I thank the hon. Gentleman for his question because it gives me a chance to bring the House’s attention to research published after the general election in 2024 but commissioned under the last Conservative Government—I have the document here. What was the research into? It was into capping salary sacrifice pension contributions at £2,000. The hon. Gentleman can read the research published and commissioned by his own party about putting back under control this tax relief, which had got out of hand.
Not addressed: The answer does not directly address the research requested but instead references a different piece of work that was commissioned by the previous government.
Was this summary accurate? Tell us
How accurate was this summary? (1 = poor, 5 = spot on)