Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate his Department has made of (a) the total additional National Insurance an employee affected by the £2,000 salary sacrifice cap will pay by State Pension age and (b) the investment growth that sum would have earned if saved in a pension.

The Government has not made an estimate of the reduction in pension savings at State Pension age for an individual affected by the £2,000 salary sacrifice cap.

The impact on an individual’s pension savings will depend on their circumstances, including their age, earnings, pension contributions, investment returns and how they and their employer respond to the change.

The Office for Budget Responsibility has published information on the methodology and assumptions underpinning the costing of the measure.