The 1.25% National Insurance increase for employers and employees announced this week could boost pension saving by making salary sacrifice more attractive, Chartered Financial Planner Sean McCann has predicted.

The Prime Minister has announced rises to dividend and share tax and a rise in National Insurance from April 2022 to address the funding crisis in the health and social care system.

Prime Minister Boris Johnson is considering increasing National Insurance to fund a long-term reform of social care, according to reports released this morning.

Chancellor Rishi Sunak surprised many in his Budget by raising the threshold for National Insurance Contributions by nearly £1,000 from £8,632 to £9,500 although he left most income tax thresholds alone.