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HM Revenue and Customs (HMRC) figures indicate around 3.3 million pension savers are on course to be hit by salary sacrifice changes announced by Chancellor Rachel Reeves in the Autumn Budget. ‌

Guidance published online by HMRC about the changes said an estimated 7.7 million employees currently use salary sacrifice to make pension contributions. Of these, 3.3 million sacrifice more than £2,000 of salary or bonuses. ‌

Changes announced in the Budget will mean salary-sacrificed pension contributions above an annual £2,000 threshold will no longer be exempt from national insurance (NI) from April 2029. ‌

READ MORE : New State Pension age changes set to delay retirement payments for millions of people READ MORE : New HMRC income tax change due to

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