The annual contribution cap and pension transfer ban should be retained in NEST's initial period but it is essential they are both reviewed in 2017, David Yeandle says.
The Pensions Regulator has been given a budget to regulate NEST and auto-enrolment schemes, pensions minister Steve Webb confirmed today.
Everything you need to know from today's DWP auto-enrolment review...
The exclusion of micro-employers from auto-enrolment was ruled out due to the number of employees that would be excluded and "substantial" practical issues.
Pensions minister Steve Webb offered reassurance auto-enrolment and NEST would not lead businesses to ‘dumb down' their pension schemes.
The auto-enrolment review has proposed radically simplifying the certification process for existing workplace schemes.
Automatic enrolment into workplace pension schemes will only apply when a person earns more than £7,475 per year, a government review has concluded.
Pensions minister Steve Webb has admitted over 500,000 women would be excluded from NEST under plans to raise the earnings threshold for inclusion from £5,035 to £7,500.
George Osborne delivered his much awaited Spending Review to a raucous House of Commons today.
A fifth of intermediaries in the group pensions market believe they will have fewer customers and earn less because of the RDR, according to a study from ORC International.