NEST applauded by government for pensions calculator aid

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NEST applauded by government for pensions calculator aid

A new guidebook published by NEST Corporation has been warmly received by a source from the government.

Steve Webb, minister for pensions, described a phrasebook unveiled by the company as being helpful in making the upcoming pension reforms as straightforward as possible.

"I welcome NEST's phrasebook as a big step forward in making pensions easy to understand. Employers and workers alike find pensions very complicated," said the MP.

He accepted that the changes taking place in the retirement savings industry are "radical" and claimed this makes clear and simple language all the more important.

The phrasebook was produced by NEST Corporation after it conducted research into which pension terms are fully understood by the public.

Chair of the organisation Lawrence Churchill highlighted how the document could break down barriers to understanding the pensions process.

NEST recently announced the charging level on its members funds, which will be set at 0.3 per cent each year.

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