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Monday, 23 August 2010

NEST UK pension reforms

Attending business breakfasts is useful.

I hear that from April 2012 the government is introducing a compulsory pension scheme for employees called NEST. Employees will be automatically enrolled unless they opt out. Employees will have to contribute 4% of salary, and employers 3%.

Full details here: nestpensions.org.uk.

I've felt for some while that the situation to do with employee pensions has been confused. So I think it's good news that the new government is going ahead with plans from the last administration, although I can see the agenda of the govenment wanting to reduce dependency on state pensions!

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