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Commenting on the recommendation contained in the Department for Work and Pensions Select Committee report published today (Thursday) that restrictions on the operation of the National Employment Savings Trust (NEST) should be lifted, TUC General Secretary Brendan Barber said:

date: 14 March 2012

embargo: 00.01hrs Thursday 15 March 2012

Commenting on the recommendation contained in the Department for Work and Pensions Select Committee report published today (Thursday) that restrictions on the operation of the National Employment Savings Trust (NEST) should be lifted, TUC General Secretary Brendan Barber said:

'The Work and Pensions Select Committee report shows the strong all-party support for lifting the restrictions on NEST.

'These restrictions have never been in the interests of consumers and were a concession too far to vested interest lobbying by the financial services sector.

'NEST has already shown that it will work in the interests of low to medium earners, which was the only argument with any merit for the restrictions. The government should lift them as soon as possible.'

NOTES TO EDITORS:

- All TUC press releases can be found at www.tuc.org.uk

Contacts:

Media enquiries:
Liz Chinchen T: 020 7467 1248 M: 07778 158175 E: media@tuc.org.uk
Rob Holdsworth T: 020 7467 1372 M: 07717 531150 E: rholdsworth@tuc.org.uk
Elly Gibson T: 020 7467 1337 M: 07900 910624 E: egibson@tuc.org.uk

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