McPhail slams CBI NEST claims

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The Confederation for British Industry's claim that NEST will be deserted by workers fleeing the 2% charge is "absolute rubbish", Tom McPhail says.

In a statement released yesterday, the CBI claimed current proposals to ‘front load' contribution charges to pay for the set up of the scheme would leave savers worse off for more than a decade. The business lobby group also said it was concerned about the structure of these fees - and warned many staff could quit the scheme should they think they were getting a raw deal. CBI deputy director-general John Cridland said: "The next government needs to revisit the structure of these fees. We must make it easier for the low-paid to save by smoothing the cost, instead of front-loading it. T...

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