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www.nestpensions.org.uk The National Employment Savings Trust ( NEST ) is a defined contribution workplace pension scheme in the United Kingdom. It was set up to facilitate automatic enrolment as part of the government's workplace pension reforms under the Pensions Act 2008 .
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The organisation was set up by the UK Government and is paid for by a statutory levy on the financial services industry. [3] It is an arm's-length body of the Department for Work and Pensions. [4] [5] MaPS is the largest funder of debt advice in England. The service's chair is Sir Hector Sants. [6] In January 2020, Caroline Siarkiewicz was ...
The UK government announced in May 2006 that it proposed to introduce a new type of low-fee pension scheme called a Personal Account, which was renamed National Employment Savings Trust (NEST) prior to its introduction under the Pensions Act 2008.
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In November 2023, The Trussell Trust calculated that a single adult in the UK in 2023 needs at least £29,500 a year to have an acceptable standard of living, up from £25,000 in 2022. [ 8 ] On 14 November 2024, Rachel Reeves announced plans to merge pension funds into megafunds to unlock up to £80 billion for investment and boost the UK's ...