PA Panel: Advisers sceptical on NEST charging

Last week, the Government confirmed the charging structure for NEST, the public scheme which underpins its pension reform plans. The scheme will feature an annual management charge (AMC) of 0.3%, and a contribution charge of 2%. The Government says the 2% contribution charge is temporary, and will be removed when the scheme's setup costs are met. However, Panel members are concerned about the scheme, with 63% saying it will not work for its members. Advisers are concerned people will continue to opt out of the scheme, particularly the less well-off it is intended to help. "Hard-...