Everything you need to know to plan for your future after Rachel Reeves’s inheritance tax changes in the budget

Since 2012, employers have had to enrol eligible workers in a pension scheme. You can opt out if you want, but the idea is that you are less likely to leave a pension than start one. Once in the scheme, your employer must make payments worth at least 3% of your salary. You must put in the equivalent of at least 5% of your pre-tax salary. But many experts say that isn’t enough. Phoenix Insights, a thinktank, says the current 8% total minimum contribution “is too low for most savers to achieve an adequate retirement income, and may be giving some a false sense of security”. So consider increasingupping your payments if you can.