MPs claim NEST will be 'nobbled' by private providers

This year, several pension schemes angled as NEST competitors have launched in preparation for auto-enrolment in 2012. In September Danish pension scheme NOW: Pensions and Pensions Umbrella Trust (PUT) both launched. Standard Life has extended its master trust pension in the autumn in preparation for auto-enrolment. In an evidence session of the Work and Pensions Committee, which is examining NEST and auto-enrolment, chair Dame Anne Begg questioned how NEST could compete with these new players. Begg asked how NEST could compete when it will be subject to restrictions on contributio...