Employers are gearing up for start of auto-enrolment duties in October 2012. Around half (54% of the UK’s largest employers (5000+ workers) say they have confirmed their provider(s) for auto-enrolment according to latest Nest research. A further 34% have a ‘good idea’ of the...
The government should lift two key restrictions on the operation of the National Employment Savings Trust (Nest) as a matter of urgency, says a parliamentary report from its Work and Pensions Select Committee.
The government established Nest as a low-cost pension scheme to help deliver the auto-...
Why behavioural finance matters and why it matters to Nest by Cathy Smith, Allianz Global Investors, and Helen Dean, Nest
Did you know that seeing a picture of yourself as you might look in 20 or 30 years could actually cause you to double your savings rate?
Most people find it difficult to imagine the future, let alone picture themselves living in it. But that is exactly what we ask people to do when they plan for...
We must get people saving, keep them saving and make sure their savings grow quickly urges Mark Fawcett, Nest
For those in the pensions industry, it is easy to make assumptions about the general population’s knowledge levels when it comes to workplace pension schemes. But research has demonstrated that some of these assumptions are open to question.
In 2006, a study1 of Wharton MBA and Harvard...
Nest could prove to be a suitable reference point for other pension providers suggests Rudi Smith, Towers Watson
Recent legislation and regulator guidance has brought into focus the need to consider defined contribution (DC) scheme design and it is only natural for Nest to come under careful scrutiny. To what extent will Nest act as a benchmark for DC schemes?
Nest undertook a perhaps unprecedented degree of...
Lessons can be learnt from the viewing patterns for Strictly Come Dancing relevant to online pension planning suggests Geraldine Brassett, Aon Hewitt
I was flicking through my copy of the Metro newspaper the other day when an article caught my eye. The piece was about the fact that the unseasonably warm autumn weather had substantially reduced the viewing figures for the X Factor and Strictly Come Dancing as people had taken advantage of the...
In the year that millions will start saving for their retirement for the first time, research by Nest shows that very few people think pensions are ‘straightforward’ (6%), ‘easy to understand’ (4%), ‘simple’ (3%), ‘interesting’ (5%) or ‘engaging...
The first employers have joined our scheme, says Tim Jones, Nest
Almost 100 employers have so far signed up to use Nest ahead of the introduction of employer duties in 2012.
Videos of the early experiences of three firms – F2 Chemicals based in Preston, Metal Assemblies, based in West Bromwich, and Positive Support in Tees CIC, based in Hartlepool –...
Offering Nest as another pension option means we could all be in it together suggests Stephen Budge, KPMG
With less than a year away to the onset of the auto-enrolment duties, employers are taking the opportunity to review their pension provision. While the majority of larger employers will want to offer their own arrangement to their employees, maybe all employers should consider offering the National...
In a increasingly crowded sphere, B&CE, the workplace pension provider to over
1.6m people, and ATP, the Danish pension scheme, have unveiled their auto-enrolment solutions set to rival Nest. B&CE offers the enticingly named The People’s Pension, while ATP goes for the impactful...
The government has a long way to go to get the message across according to the 5th UK Pension Reforms Auto-enrolment and Nest Employer Research report produced by JLT Benefit Solutions (JLT).
Duncan Howorth, CEO, JLT, says "With less than a year to go until the reforms start to take effect...
In a increasingly crowded sphere, B&CE, the workplace pension provider to over 1.6 million people, has unveiled its auto-enrolment solution; The People’s Pension, set to rival Nest and ATP’s NOW: Pensions.
From spring 2012 The People’s Pension, a new multi-employer scheme...
Nest announces the members of its two new advisory panels reports Ceri Journalist, financial journalist
Nest has put in place employer and member panels with considerable and diverse expertise as the massive scale of the education task ahead begins to get under way.
More than half the UK workforce is “totally unaware” of next year’s auto-enrolment reforms, according to research...
Tim Jones, Nest, details how employers' feedback is helping to shape the development of the scheme
Over the coming months, Nest will be sharing the experiences of the volunteer employers and members working with us and revealing the range of organisations that have enrolled some or all of their workers into the scheme. These organisations span large, medium and small businesses.
But even as...
Tim Jones, Nest Corporation, gives an update on the slow and careful build up to the establishment of Nest
2011 is an important year for Nest – it is our launch year. We are already working with more than 60 employers who want to use Nest ahead of the onset of employer duties in 2012.
In this article, I want to bring you up to speed on the key elements of the scheme that are now in place,...
The Work and Pensions Select Committee is conducting an inquiry into auto-enrolment and Nest.
Short submissions (no more than 3,000 words) are invited from interested organisations and individuals.
The deadline for written evidence is Friday 26 August 2011.
Submissions...
Nest has selected five annuity providers for its retirement panel. Members wil be free to buy annuities from the panel or shop around on the open market.
The panellists are:
Canada Life, providing both conventional and enhanced retirement income products
Just Retirement, providing...
Speaking at the annual lunch of the All-Party Parliamentary Group on Occupational Pensions, Association of Consulting Actuaries (ACA) chairman, Stuart Southall has urged the Government to think again about how it approaches any attempt to equalise guaranteed minimum pensions (GMPs)
Addressing...
Nest, the National Employment Savings Trust, is too expensive, John Cridland, CBI director-general, said to guests at a recent Towers Watson dinner.
Nest will charge members 0.3% annually with an annual contribution charge of 1.8% initially. But Mr Cridland said: “Nest has an effective 0....
Nest, the National Employment Savings Trust, is too expensive, said John Cridland, CBI director-general, in a thought provoking speech at a Towers Watson dinner.
Nest will charge members 0.3% annually with an annual contribution charge of 1.8% initially.
But Mr Cridland said: “Nest has...
