NEST joins STAR Initiative as Opperman urges other to follow suit

The initiative aims to improve industry standards while reducing pension transfer times for defined contribution schemes to less than 21 days. Along with the government-backed auto-enrolment (AE) provider, it will work to influence how appropriate standards are defined. Pensions and financial inclusion minister Guy Opperman has warned the industry to "act urgently" to join NEST in the Star Initiative or "face being named and shamed". "I'm glad NEST has signed up to the 21-day transfer pledge. NEST looks after the pensions of millions of people brought into retirement saving by AE, so ...