Rachel Reeves's pension reforms may leave millions of modest earners worse off

Chancellor Rachel Reeves's pension reforms could negatively impact millions of workers. New rules from April 2029 will end National Insurance exemptions for salary-sacrificed pension contributions above £2,000 annually. This change may affect many beyond those exceeding the threshold. The reforms aim to curb rising costs, but concerns remain that even modest earners could lose out, potentially discouraging pension savings.