Nest 'will help low-income workers to save'

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Nest 'will help low-income workers to save'

The introduction of the National Employment Savings Trust (Nest) will provide a benefit to individuals who are on lower incomes in terms of their ability to save towards retirement, it has been claimed.

Robin Ellison, partner at Pinsent Masons, said saving for the future can be more difficult for those with less coming in each month, while shorter life expectancies for this group also reduces the chance of them drawing a pension at all.

However, he commented: "The good news is that if you are on a lower income, you want to build up your pension rights as much as possible, so it gives you extra years to build up your pension rights."

Meanwhile, Andrew Hagger, a spokesman for Moneynet.co.uk, recently argued that Brits should be putting money aside whenever they can in order to build up a nest egg for the future.

He claimed life can throw up emergencies that can push people's finances to the limit and beyond, but having a fund to fall back on in times of difficulty can be invaluable.

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