ICAS Warns NI Cap Could Discourage Pension Saving
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
Source: Yahoo Finance
- Pension Saving Risks: ICAS warns that the Chancellor's cap on national insurance relief could discourage pension saving, particularly as some employers withdraw salary sacrifice schemes, indicating that short-sighted tax policies may exacerbate existing pension inadequacies.
- Employer Reactions: According to ICAS tax director Katie Close, the withdrawal of salary sacrifice schemes by employers is unsurprising, as the changes announced in the 2025 Budget will have long-lasting impacts on both individuals and businesses, potentially reducing pension provision.
- Low Pension Participation: ICAS cites research from the IFS and the Pensions Commission, revealing that over a fifth of private sector workers do not save into workplace pensions at all, and among those who do, around 30-40% are not on track for adequate retirement income, with policy changes risking further exacerbation of this issue.
- Policy Recommendations: ICAS urges the establishment of coherent, stable, and long-term pension rules to instill confidence in employers, savers, and the wider industry, ensuring that the core purpose of pension policy is to secure sufficient retirement income for individuals, thereby avoiding widening existing inequalities such as the gender pensions gap.
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Analyst Views on GS
Wall Street analysts forecast GS stock price to rise
12 Analyst Rating
5 Buy
7 Hold
0 Sell
Moderate Buy
Current: 900.000
Low
604.00
Averages
951.45
High
1100
Current: 900.000
Low
604.00
Averages
951.45
High
1100
About GS
The Goldman Sachs Group, Inc. is a global financial institution that delivers a range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Its segments include Global Banking & Markets, Asset & Wealth Management and Platform Solutions. The Global Banking & Markets segment offers a range of services, including financing, advisory services, risk distribution, and hedging for its institutional and corporate clients. It facilitates client transactions and makes markets in fixed income, equity, currency and commodity products. The Asset & Wealth Management segment manages assets and offers investment products across all asset classes to a diverse set of clients. It also provides investing and wealth advisory solutions. The Platform Solutions segment includes consumer platforms, such as partnerships offering credit cards and point-of-sale financing, and transaction banking and other platform businesses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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