Trade union TUC has commented on the announcement that almost 100 employers have already signed up to use NEST, the pension saving scheme set up by the government ahead of the introduction of auto-enrolment into pensions next year.
TUC General Secretary Brendan Barber said ‘this was an important day for UK pensions’ as NEST was a vital part of ‘our pensions future, and it has shown that it is well prepared for auto-enrolment’.
He said: “Auto-enrolment and NEST have won wide support across industry and the political spectrum, which will ensure that they are here to stay. NEST has already shown a refreshing willingness to think from first principles about the needs of low to moderate earners. Combined with its relentless focus on low charges, it is clearly one of the best possible options for staff saving in a pension for the first time after auto-enrolment.”