ABI warns of NEST risks

In its response to the DWP's Workplace Pensions Review, Craig makes clear the ABI's support for NEST, due to come into full effect by 2012, but highlights some concerns. "The ABI fully supports automatic enrolment into workplace pensions, which needs to be implemented without delay," says Craig. "This is vital to tackling the chronic lack of saving for retirement, and helping thousands of people avoid a dramatic drop in income and living standard when they retire." However, Craig warns of the risk to employees of employers abandoning good existing schemes. "The Government needs ...