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National Employment Savings Trust (NEST) is one of the qualifying pension schemes that employers can use to meet their new duties. It was set up as part of the government's workplace pension reforms. Nest is a trust-based defined contribution pension scheme, run by a trustee (Nest Corporation) on a not-for-profit basis.
The National Employment Savings Trust (NEST) was established to assist employers in adhering to the regulations of the Pensions Act 2008. [6] NEST is a low cost pension provider which employers default to using if they are not able to make arrangements with any other provider or would prefer not to do so.
Since then, the Pensions Act 2008 has set up automatic enrolment for occupational pensions, and a public competitor designed to be a low-cost and efficient fund manager, called the National Employment Savings Trust (or "Nest").
A second change is the creation of a National Employment Savings Trust, a public pension provider for those who do not have an occupational pensions, which will function as a low-fee pension scheme in competition with existing funds.
Private and occupational pensions, including regulatory powers and the National Employment Savings Trust (NEST) Automatic enrolment into a workplace pension Oversight of arms-length bodies, including the Pensions Regulator, Pension Protection Fund, Financial Assistance Scheme and Pensions Ombudsman
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Although many stakeholder pensions have been taken out, they have largely not been successful in encouraging lower earners to save more. 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 ...
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