The National Employment Savings Trust (NEST) could face major reforms under plans laid out in a government consultation, including providing decumulation services for members.
The Department for Work and Pensions (DWP) opened a consultation on the master trust's future today. It runs until 28 September. The DWP wants views on how the government-backed master trust might evolve following the introduction of pension freedom and outlines options for it to provide retirement income choice for members. It wants to hear from industry bodies, trustees, scheme managers and employers. Pensions minister Ros Altmann, who wrote the forward to the consultation, said: "The time is right to consider how NEST might evolve to respond to wider pension reforms. "NEST m...
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