Pension freedom poses major mis-selling risk, warns NEST

The government-backed auto-enrolment pension scheme said strong default options should be set up to complement a thriving and competitive advice market. It made the comments in its response to the Work and Pensions Select Committee's inquiry on pension freedoms. NEST said providing advice and guidance alone would not meet the needs of millions of savers approaching and entering retirement. It wants pre-set retirement options which meet high minimum governance levels to be set up by pension schemes. Adding, these would extend oversight for members who don't opt out and help them get...