Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate his Department has made of the reduction in the value at State Pension age of the pension savings of an employee affected by the £2,000 salary sacrifice cap.

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.