Chancellor Targets Pension Tax Relief
This is a news story, published by Telegraph, that relates primarily to Rachel Reeves news.
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employer pension contributionsTelegraph
•Reeves tipped to launch £16bn tax raid on pension contributions
71% Informative
Rachel Reeves is likely to target tax relief on private sector pension contributions.
Employers pay NI rate of 8pc on earnings between 242 and 967 a week and 2pc thereafter.
No NI is levied on either the worker or the firm if that same remuneration is paid into a pension.
Exempting employer pension contributions from NI costs the Treasury 23.8bn a year.
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