DWP consultation on removing NEST restrictions – NAPF comment

06 November 2012

Darren Philp, NAPF Director of Policy, said that NEST (the National Employment Savings Trust) was a key part of the UK savings picture going forward, and NAPF wanted it to be a success.

NAPF welcomed the consultation launched today by the Department for Work and Pensions (DWP) into the operation of the National Employment Savings Trust (NEST).

Darren Philp, NAPF Director of Policy, said: “We are pleased that the DWP is looking into the possibility of removing the restrictions on NEST. The economic landscape has changed significantly since the auto-enrolment reforms were legislated so there is a case for reviewing the restrictions if the evidence shows they are acting as a barrier for employers wanting to use NEST or for employees getting value for money. Other requirements on NEST which limit its ability to compete with other providers in the market, such as its public service obligation to serve all employers, will remain in place.”

Press release

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