Auto-enrolment delay will increase NEST debt

NEST was created with a £650m loan facility from the Department for Work and Pensions (DWP). However, the loan will now have be repaid over a longer period of time because the government has given small businesses an extra year to auto-enrol their staff, NEST said. Lawrence Churchill, chairman of NEST Corp, said the extended loan period will create more interest on the loan and so increase it overall. He added bleak economic outlook has forced NEST to reconsider its projected uptake rates, which were previously predicted by the DWP to be around 20%. "We have already started to r...