Each Panel will be a sounding board for ideas and suggestions proposed by NEST and provide recommendations on key issues, ensuring that any concerns are raised at Trustee level. Visit NEST’s website for full details
NEST TO ALLOW EMPLOYER CONTRIBUTIONS BY DEBIT CARD
14 September 2011 The National Employment Savings Trust (NEST) will allow employers to make scheme contributions using a debit card, a payment method most other providers shy away from. Professional Pensions reports: Contributions can be made using a debit card or direct credit through NEST's new online system for employers, although the provider expects the majority of employers will use direct debit. NEST said paying by debit card or direct credit incurs no additional charge but it does reserve the right to charge if the costs of these become prohibitive - although this is not expected. Standard direct debit payments will incur no charges and NEST has no powers reserved to charge. However, fees could be charged if an employer breaches NEST's terms and conditions, but the first approach is to discuss the issue first before levying any charge - and fees will cover NEST's costs only as it is a not-for-profit organisation. DANISH PENSION FUND LAUNCHES SCHEME TO CHALLENGE NEST 14 September 2011 Global Pensions report that ATP (the Danish pension scheme) has announced the launch of an independent multi-employer trust to rival the National Employment Savings Trust, ahead of automatic enrolment next year. ATP said the new trust, NOW Pensions, will focus on delivering a greater retirement income for the UK population than current provision. The scheme will be open for business from early 2012. Follow thus link to read the full article
Danish pension scheme announce costs
2 November 2011 The multi-employer scheme set up by Danish pension scheme ATP to rival NEST has revealed that the product will offer members one investment choice with an administration charge of just £1.50 per month and a 0.3% annual management charge. Read more from Global Pensions
EMPLOYERS FROM SMALL TO LARGE LINE UP WITH NEST
15 October 2011
CIPP Policy News Journal
09/10/2012, Page 163 of 234
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