You may have recently seen the TV adverts for the National Employment Savings Trust (NEST), Workplace Pensions, starring UK business leaders exclaiming that “They are in!”. The truth is they have little if any choice in relation to NEST.
For employers who remember the damp squib that the Stakeholder Pension Scheme of 2001 was should be not believe that NEST will be the same stillborn entity that Stakeholder Pensions were. NEST is here to stay with a suite of fines for those who choose to ignore it and unlike Stakeholder these fines will be imposed on those who disregard their duties.
The National Employment Savings Trust (NEST) is the biggest change to UK pension legislation since the State Pension was introduced in 1908.
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