Labour plots to protect top public sector workers from pension tax raid

Sir Keir Starmer, Sue Gray and husband of Rachel Reeves are among those who have large public Keir Starmer ions. Rachel Reeves ts to reintroduce the 1.073m ma 1.073 cap on the amount that can be saved into pensions free of tax.

Fears of a public sector exodus have led to Labour drawing up plans to reinstate the cap.

The lifetime allowance has historically favoured those in the public sector.

It means a public sector worker could secure a retirement income of 53,655 without breaching the cap.

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