Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions she has had with the Secretary of State for Work and Pensions on the potential impact of the salary sacrifice pension scheme changes announced in the Autumn Budget 2025 on the value of occupational pension funds.

A Tax Information and Impact Note (TIIN) was published alongside the introduction of the Bill containing the changes to pensions salary sacrifice.

The Office for Budget Responsibility (OBR) set out in their November 2025 Economic and Fiscal Outlook that they do not expect a material impact on savings behaviour as a result of Budget 2025 tax changes.

The government supports all individuals to save into pensions through a generous system of income tax and NICs reliefs worth over £70 billion a year.