What pension changes is Rachel Reeves considering in the budget?

In the context of Rachel Reeves' upcoming budget, discussions around pension changes are intensifying. While rumors suggest that cutting tax-free cash drawdowns may not be pursued, the Chancellor appears to be shifting her focus towards salary sacrifice schemes. This aligns with her recent plans to raise £7.5 billion through freezing income tax thresholds, which indicates a broader strategy to manage tax revenues effectively. Additionally, her intention to limit tax benefits for salary sacrifice schemes used for purchasing bicycles further illustrates her approach to fiscal reform, emphasizing a comprehensive review of tax policies.