Budget 25

Salary sacrifice cap, pre-97 inflation protection, DB surplus release, IHT and British Coal scheme

Industry welcomes change but warns blocking powers for executors could cause delays

Insight Investment says DB surplus release policy could achieve ‘much more’

Measure will make it easier for trustees and employers to agree surplus extraction

The chancellor chose to leave the tax-free lump sum unchanged in the Autumn Budget

The industry has responded to the chancellor’s decision to cap salary sacrifice for pensions at £2,000

Measure will come into force from April 2029

The industry speculates on tomorrow’s Budget and discusses the impacts of possible reform