PP Show 2010 - NEST charges 'an outstanding deal'

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The 2% upfront charge on contributions into NEST is part of an 'outstanding deal,' delegates at the Professional Pensions Show 2010 heard.

NEST chief executive Tim Jones said the charging structure is 'not unfair' and offers an 'outstanding deal' beyond the start-up loan. He said once members have paid the initial 2% charge, this drops to 30 basis points thereafter. Beyond the repayments of the loan, NEST trustees will decide whether to stick with this charging structure. He said as the charge guarantees a certain cash flow, the repayment of the loan is quicker, so members will be paying less this way than if there was a straight 50bps annual management charge. CBI head of pensions and employment Neil Carberry reitera...

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