NEST restrictions “should go”

date: 6 November 2012

embargo: For immediate release

Responding to the government's call for evidence on whether to lift restrictions imposed on NEST, the low-cost pensions scheme established by government in advance of pensions auto-enrolment, TUC General Secretary Brendan Barber said:

'This call for evidence is welcome.

'Restrictions on NEST harm consumers who cannot take full advantage of this low- cost, well-governed scheme.

'They are a burden on employers who often cannot use NEST as a single scheme for all their staff.

'NEST's public service obligation that compels them to take on any employer, even those the industry would not touch with a bargepole without high charges, is sufficient justification for the very modest state aid in NEST's loan arrangements.'

NOTES TO EDITORS:

- Further information on auto-enrolment is available on the DirectGov website at http://bit.ly/QKjzFZ

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Alex Rossiter T: 020 7467 1337 M: 07887 572130 E: arossiter@tuc.org.uk