<img height="1" width="1" style="display:none;" alt="" src="https://px.ads.linkedin.com/collect/?pid=9252258&amp;fmt=gif">
Skip to content
Sign in / Register

Pensions are changing in 2029. It's the cap nobody asked for.

The cheapest way this generation has to build a pension pot is about to get less tax-efficient. You've got three years to make the most of it before the cap lands.

Start a Shared Cost AVC Book the webinar
Cap

What's actually changing?

From April 2029,

there will be a cap on National Insurance relief from salary sacrifice pension contributions. 

£2,000 per year

will remain exempt. Contributions over this amount will not earn NI relief. 

There's 3 years

left to make the most of unlimited double tax relief on Shared Cost AVC contributions.

What's our take?

We’re pretty outraged. The government is making it even harder for the next generation to save for retirement, and no one's talking about it.

We’re campaigning to change that. We’re going to be wearing our own NI relief cap caps, and shouting about what it means for regular people.

Want your own NI relief cap? Join a 'Pensions are changing in 2029' webinar during w/c 10th August and we'll send a cap to three randomly selected attendees.

No one should be blindsided by this change. Help us spread the word.

Book your place
Protest

What does that mean for your savings?

We've produced two different tax examples to show you how these changes will affect your contributions.

Sarah earns £32,000 a year and contributes £4,000 into her Shared Cost AVC each tax year.

Before April 2029: £320 National Insurance relief.

After April 2029: £160 National Insurance relief.

Sarah would receive 50% less National Insurance relief after April 2029. That’s a drop from £320 to £160 each year on the same £4,000 contribution.

Shared Cost AVCs will still be one of the most tax-efficient ways to save for retirement, but after April 2029, anyone contributing more than £2,000 a year will receive less National Insurance relief than they would under the current rules.

*figures based on average My Money Matters' member contributions.

David earns £65,000 a year and contributes £8,000 into his Shared Cost AVC each tax year.

Before April 2029: £160 National Insurance relief.

After April 2029: £40 National Insurance relief.

David would receive three-quarters less National Insurance relief after April 2029. That’s a drop from £160 to £40 each year on the same £8,000 contribution.

Shared Cost AVCs will still be one of the most tax-efficient ways to save for retirement, but after April 2029, anyone contributing more than £2,000 a year will receive less National Insurance relief than they would under the current rules.

*figures based on average My Money Matters' member contributions.

Live sessions for you

Find out what you can do about it.

We're hosting live sessions to help you understand the cap, what it means for you, and how to get ahead of it. We expect these sessions to book up quickly, so secure your place whilst there's still seats left.

10th August12:30pm
Register →
11th August10:30am
Register →
12th August10:30am
Register →
13th August12:30pm
Register →
14th August10:30am
Register →

Ready to get ahead of the cap?

Start a Shared Cost AVC Amend contributions
Rated excellent on Trustpilot