By Chris Eastwood

As the Autumn Budget approaches on 26 November, pensions are firmly in the Treasury’s sights.

From tax relief to salary sacrifice and even the tax-free lump sum, speculation is mounting that the Chancellor could soon tighten the rules on how Britons save for retirement.

Chancellor Rachel Reeves has already warned that “tough choices” lie ahead, and with the Institute for Fiscal Studies (IFS) estimating a £22 billion gap in the government’s finances, pension perks look increasingly vulnerable.

With headline tax rates on income, VAT and National Insurance politically off-limits, the government is expected to turn to the technical, and lucrative, side of the tax system.

That means allowances, thresholds and reliefs could all be on the chopping block.

One of the biggest potential targets is salary sacrifice, a hugely popular scheme that allows employees to contribute to their pensions in a tax-efficient........

© LBC