Around 3.3 million workers could be affected by the planned £2,000 cap on National Insurance (NI) relief for salary sacrifice pension contributions from April 2029, according to My Money Matters.

The firm has launched a campaign to raise awareness of the change, under which contributions sacrificed above £2,000 a year will attract NI in the usual way. Citing HMRC’s impact assessment, My Money Matters said 3.3 million of the 7.7 million employees using salary sacrifice currently contribute more than £2,000 annually, including around 850,000 basic-rate taxpayers. It argued that basic-rate taxpayers could be disproportionately affected because they pay NI at 8 per cent, compared with 2 per cent for higher-rate taxpayers. My Money Matters CEO, Amar Mistry, said: “Nobody voted for this cap, and almost nobody’s heard of it - that’s the real problem.” The firm has launched a campaign featuring branded “NI relief cap” caps to highlight the upcoming change and its impact.

Employers have been urged to make pensions a more prominent part of onboarding for young workers, as thousands of school leavers consider entering the workplace following A-level results day.

People’s Pension distribution director, Stuart Reid, said young savers’ biggest advantage was time, allowing even relatively small contributions to benefit from longer periods of investment growth alongside employer contributions and tax relief. He argued that the challenge for employers was making pension saving feel relevant from the outset of someone’s career. “Our research shows younger people want clear, practical information that demonstrates why pension saving matters to them now, rather than something they only need to think about decades down the line,” Reid continued. He added that explaining the full value of workplace pension saving, including employer contributions and tax relief, could help make the benefits more tangible and support stronger long-term saving habits and financial confidence.

PensionBee has expanded its partnership with Saracens to become the rugby club’s new front-of-shirt sponsor and lead partner under a three-year extension running until the end of the 2028/29 season.

PensionBee, which joined Saracens as its official pension partner ahead of the 2025/26 season, will appear on the front of both the men’s and women’s match shirts from 2026/27, alongside expanded branding across training wear, coaches’ kit, matchday bibs and match shorts. The agreement coincides with Saracens’ 150th anniversary season. Saracens CEO, Ed Coetzee, said the partnership brought together two organisations with a shared focus on “innovation, sustainable growth and creating long-term value”. PensionBee VP partnerships, Jordan Lowe, added: “We’re thrilled to deepen our relationship with Saracens and take pride of place on the front of both the men’s and women’s shirts”, stressing that the provider would continue engaging with supporters while promoting better financial futures.

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