NEST is a strange beast, borne of fears which never materialised. Do we really need a nationalised provider of pensions, which could distort free markets?”
The National Employment Savings Trust (NEST) was established by government to be a pension provider supporting the policy of Automatic Enrolment into pension saving by ensuring that there would be a scheme which would accept any employer who wished to use it, irrespective of size.
In the event, a number of other market participants have emerged who will do this. However, government is now proposing to extend the activities NEST can undertake.
The IoD thinks this could be market-distortive and that NEST should stick to the task it was set up to do.
Malcolm Small, on behalf of the IoD