NEST cuts initial contribution charge to 1.8%

NEST Corporation chairman Lawrence Churchill announced the charge reduction yesterday at the annual Eversheds pensions conference. It also confirmed the annual management charge remains at 0.3%. The news comes after NEST chief executive Tim Jones announced the scheme's charging structure offers an 'outstanding deal' beyond the start-up loan. NEST Corporation managing director, scheme development, Helen Dean says the slight reduction will give NEST members access to a scheme that is "approaching the best in the pensions market". She adds: "It will give more income for members at ...