Unions call for lifting of Nest rules
Monday 28 January 2013
Printable
EmailUnions urged the government today to lift legal restrictions on the National Employment Savings Trust (Nest), which impose a maximum annual contribution and stops transfers in and out of pension schemes.
A letter on Nest - the new low-cost workplace pension scheme designed for low to medium earners - said that restrictions prevent workers from building up the pension they desire, particularly in the years running up to retirement when many wish to maximise their savings.
TUC leader Frances O'Grady said: "We were always opposed to the restrictions on Nest because they are against the best interests of its members and the UK workforce in general."
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