Chancellor Rachel Reeves is facing pressure to implement significant tax reforms in the upcoming Budget, potentially targeting pensions to raise £15bn to £20bn. Goldman Sachs suggests a flat rate of 20% tax relief on pension contributions could help address the financial deficit. Additionally, the Resolution Foundation recommends a £9bn tax on employer contributions to pension schemes, arguing that the current tax relief is unnecessary and creates inequities. This proposal, however, has raised concerns that it may discourage employers from making generous contributions to employee pensions. Meanwhile, the Institute for Fiscal Studies has proposed capping the amount of tax-free cash retirees can withdraw from their pensions, which could generate an extra £2bn. These reforms, while aimed at addressing government spending, could complicate Labour's commitment to not raise taxes on working individuals.