Consultation on changes to NEST pensions

Close date: 29 October 2014

The consultation is seeking views on draft legislation to remove the annual contribution limit and restrictions on transfers on the National Employment Savings Trust (NEST) pensions. The NEST was established by the Government in 2010 to support pension auto enrolment. The draft National Employment Savings Trust (Amendment) Order 2015 and the draft Transfer Value (Disapplication) (Revocation) Regulations 2015 remove the restrictions on transferring in and out of the pension scheme and remove the annual contribution limit. The proposed legislation is expected to come into force on 1 April 2017.
Consultation document: The National Employment Savings Trust (Amendment) Order 2015 and The Transfer Values (Disapplication) (Revocation) Regulations 2015