Govt urged to reconsider NEST restrictions

NEST has an annual contributions limit of £4,200 in 2011/12 per person, and a ban on transfers in and out of the vehicle. Last week, MPs asked how NEST could compete with other private sector providers given the disadvantage these restrictions presented. Today Tim Jones, chief executive of NEST Corp, and Lawrence Churchill, chairman of NEST, suggested it may be time for the government to reconsider NEST's limitations or risk private sector providers undercutting the government vehicle. Giving evidence to the Work and Pensions Committee today, Churchill said: "A lot has changed sinc...