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UK workers could lose HUNDREDS due to a huge Autumn Budget shake-up announced by Labour Party Chancellor Rachel Reeves today. The Labour Party g overnment will limit how much workers can pay into their pensions tax-free via salary sacrifice.

Workers will be forced to pay the full rate of National Insurance on any contributions they make over £2,000 a year. The cap means a worker who earns £50,270 a year and pays 6% of their salary would be £80 a year worse off.

But if the same worker is saving 10% into their pension, then they would be slapped with an extra £240 in National Insurance payments every year.

READ MORE State pensioners born before 1953 will be denied £2,920 due to 'two-tier' rule

Yvonne Braun, Director of Policy, Long-Term Savings at the ABI said: “The indu

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