UK may reform pensions in Nov. 26 Budget, affecting tax rules, state pension, and NI, but no final decisions yet.

UK Chancellor Rachel Reeves may unveil major pension reforms in the November 26 Budget, including potential changes to tax rules, such as limiting salary sacrifice schemes and altering tax-free lump sums, to boost government revenue. Possible adjustments to the state pension triple lock and increased National Insurance contributions are also under consideration. While reforms could target pension inequality and improve retirement savings, especially for women and lower earners, the government has delayed compensation for the Waspi generation, sparking legal action and criticism. No official decisions have been made, and the full scope remains uncertain.