Removing NEST restrictions would be a 'mistake'

This morning MPs recommended the two restrictions - put in place to limit NEST's competition with the wider pensions market - should be removed. However, the Association of British Insurers (ABI) said making changes before its launch would be a mistake. Director of life, savings and protection Stephen Gay (pictured) said: "NEST was designed - with the full support of the pensions industry - to help those on low incomes. "With auto-enrolment beginning this year, it should focus on doing that, rather than competing for higher paid customers who already have plenty of choice." Lega...