Nest enrolment guidelines launched

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Nest enrolment guidelines launched

A new set of guidelines have been launched by Nest Corporation to help companies understand when they need to take action in order to comply with the incoming rules on pension auto-enrolment.

Tim Jones, Nest Corporation chief executive, said many businesses are unsure as to what they actually need to do to get ready for the new system and this publication outlines timelines for action and the steps needed to comply.

He commented: "We aim to make our processes as simple for employers as possible, whilst being flexible enough to work well for organisations large and small. We will provide more information and guidance in the months to come."

According to Fraser Smart, UK managing director for Buck Consultants, the move from retail price index inflation to the consumer price index for pensions will have a significant impact on UK savers.

He told listeners to the BBC Wake Up to Money podcast last month that RPI is traditionally one per cent higher than CPI, meaning pension contributions will be lower from the government under this new regime.

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