Ken Davy: NEST looks to branch out
20 Jul 2016
The Conservative Government, in the form of the department for work and pensions, has just issued a call for evidence linked to proposals for the National Employment Savings Trust (Nest), which could lead to a pensions advice monopoly that frankly even Chairman Mao might have envied.
The paper, Evolving for the Future, explores how Nest could expand its pensions remit after automatic enrolment has bedded in. By 2018, Nest will be one of the UK’s largest pension schemes.
With 3.3m-plus members, it will soon be the biggest pension fund in the UK, with billions of investment funds and enormous economic influence and monopolistic power; however, with great power comes great responsibility.
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