The Pensions Regulator has been given a budget to regulate NEST and auto-enrolment schemes, pensions minister Steve Webb confirmed today.
Webb announced NEST and auto-enrolment will go ahead from 2012 today, with an income threshold for employee inclusion set at £7,475 and no exemption for any businesses regardless of size.
He said the regulation of NEST and the increased number of company pension schemes will be funded by DWP.
Webb says: "The Pensions Regulator has been given a budget for the contract to handle auto-enrolment and NEST, but the amount remains confidential."
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