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Evening Standard

Vicky Shaw

What are salary sacrifice schemes and how do they work?

Rachel Reeves ABI

Salary sacrifice schemes allow people to exchange a chunk of their salary for a different benefit from their employer (Gareth Fuller/PA Archive) - (PA Archive)

A tax raid on salary sacrifice schemes could be announced in Wednesday’s Budget, reports suggest, raising fears that some people’s retirements could be put at risk.

Here is a look at how salary sacrifice schemes for pensions work and what has happened in recent days:

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