Business News12 Feb 2013

Government urged to lift NEST restrictions 'now'

The Government should lift the restrictions governing the new National Employment Savings Trust (NEST) as 'a matter of urgency', an influential Committee of MPs has advised.

In a new report, the Work and Pensions Committee calls on the Government to remove the cap on annual contributions to NEST, along with the ban on transfers in and out of the scheme.

Contributions into NEST are currently limited to an annual contribution cap of £4,400. However, the Committee has warned that the cap is adding to the complexity for employers and employees.

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