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Today's confirmation that salary sacrifice will be capped at £2,000 annually could spell the death knell for the popular pension contribution scheme and may force some small businesses to cut jobs, experts have warned.

On Wednesday, November 26, Chancellor Rachel Reeves delivered the Labour Party government's second Autumn Budget, and in it she targeted the pension support scheme.

The scheme encourages employees to pay more into their pension, at the same time helping employers save on National Insurance.

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Anita Wright, chartered financial planner at Ribble Wealth Management said: “The so called 'pension salary sacrifice raid' is expected to raise a further £4.7 billion by limiting the National Insurance adv

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