NEST 2% contribution charge to last 20 years

The estimated time to recoup setup costs was revealed in a written question from Conservative pension spokesman, Nigel Waterson to Pension Minister Angela Eagle. Earlier this month, the Department for Work and Pensions (DWP) revealed NEST will feature an annual management charge (AMC) of 0.3% and a temporary contribution charge of 2%. The contribution charge was seen as controversial, and has been largely abandoned by the pensions industry. Eagle said: The period in which the loan to NEST Corporation will be repaid will ultimately depend on a variety of factors, including the final...