Govt unlikely to lift NEST transfer ban

It said there was no clear evidence to suggest the restrictions would act as a barrier to NEST achieving its goals, although it said it would "reflect further" on the issues raised by the Committee. The Work and Pensions Committee had argued the transfer ban could be disruptive for individuals who would like to consolidate existing separate pension pots into their NEST savings, and for employers who would like to operate a single occupational pension scheme. It added the contribution cap could cause "severe complexity" for businesses as it would mean that employers with higher-paid em...