'Messy' net-pay remedy to miss 85% of affected savers

Government estimates low take-up of tax relief top-ups as savers to be asked to apply

James Phillips
clock • 4 min read
Baroness Ros Altmann, who says it is 'disappointing that nothing will change before 2025'
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Baroness Ros Altmann, who says it is 'disappointing that nothing will change before 2025'

Only 15% of those affected by the net-pay anomaly are expected to take up the free cash on offer from the government, Treasury estimates reveal.

As announced in yesterday's Autumn Budget, those impacted by the long-running net-pay issue will be offered a 20% "top-up" to their contributions from the 2024/25 tax year, to be paid the following...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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