It will be ordinary middle income people who will be discouraged from making provision for their pensions. It is being presented as the people at the top of salary scales, with enormous amounts of money, who will put big chunks of that money into pension funds. However, in that small minority of jobs where people are paid extravagant amounts, those people are key to their workplaces and they will negotiate a package where the company will make the pension contribution rather than the individual. At a 12.5% rate, which is being preserved, the company will get tax relief on the pension contribution and the individual will pay the standard rate, but big chunks of money will still go into pension funds.

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