Rachel Reeves's pension reforms hit with major 'DEFEAT' as House of Lords calls for tax-free cap to be raised

Rachel Reeves's pension reforms hit with major 'DEFEAT' as House of Lords calls for tax-free cap to be raised

Chancellor Rachel Reeves's reforms to the pension regime faced a significant setback in the House of Lords last week, losing five separate votes on their pension salary sacrifice legislation

Pressure grows on Reeves to water down salary sacrifice changes as Lords increase cap to £5,000

Charlene Young, Senior Pensions and Savings Expert at AJ Bell, highlights growing uncertainty around the government’s proposed pension salary sacrifice changes after five House of Lords defeats. Charlene Young, senior pensions and savings expert at AJ Bell, comments: “Policy ping pong is in full swing as the bill on pension salary sacrifice changes snakes its way through various key stages to Royal Assent. In one of five defeats for the governme…