NEST - advice regarding the newest government pension initiative planned for next year.
An outline of the new pension scheme to be introduced in 2011.
As part of a series of announcements on pensions the government has confirmed that all employers will have pay into a pension for their employees.
Unless a comparable scheme is offered by the employer, employees will have to be enrolled in NEST (National Employment Savings Trust) and an employer must contribute.
We thought we would take a look at this issue in more detail and see just how it affects both employees and employers.
What is NEST?
NEST will be a large money purchase scheme, the contributions it receives from employers and employees will be invested to provide a pension for the member at retirement.