Autumn Statement (2): Blink and you missed it…

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It’s only one line in the speech, but an important one:

“I am taking measures to prevent:  ….payments of benefits in lieu of salary”

Whilst I don’t yet know for certain what this means, it may well be a partial response to the possibility that the over 55’s will use the new Freedom of Pension proposals as a means of avoiding paying national insurance through the well-oiled Salary Sacrifice mechanism.

If that is indeed what this is about, then I’m not particularly surprised that measures are being proposed here.  What has been much more surprising is that government was in denial about this possibility as recently as last week.  We shall see.

This – you can be sure – will be something I will be looking at (and commenting on) in more detail again later.

Best regards

Steve

 

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About the author

Steve Herbert is an award-winning thought leader on Pensions and Employee Benefit issues. His principal aim is better communicating the value and usage of employee benefits to employers. This he has achieved through many (highly successful) seminar series over the last decade, and his regular and widely read blog posts on the subject.
He also acts as a judge in HR and Employee Benefits industry awards, article writer, and product innovator. Steve is a regular contributor to DWP forums and compulsive responder to formal Government Consultations on pension and employee benefit issues. He is occasionally accused of making employee benefits interesting.