NEST- National Employment Savings Trust
From 2012 UK workplace pensions are set to undergo big changes. The introduction of a National Pension Scheme for Employees will mean that for the first time, employers will have to enrol their workers into a pension scheme that meets or exceeds certain legal criteria.
NEST Vs Personalised Company Pension Schemes
[youtube width=”640″ height=”360″]http://www.youtube.com/watch?v=F0h_PxarIzs[/youtube]
What is the NEST Pension Scheme?
NEST is brand new, low-cost, portable pension scheme. Any employer can choose to offer it to their staff in order to meet the new legal duties from 2013.
As an employer using NEST you will need to make sure you:
- Automatically enrol staff who are aged at least 22 but under State Pension age and earn more than £9,440 in a year. They also need to pay a minimum contribution.
- Enrol staff who are aged at least 16 but under 75, earn more than £5,668 in a year and ask to be enrolled. They also need to pay a minimum contribution
Is the NEST Pension Scheme Suitable for my Business?
NEST is a great pension option for a range of companies
- NEST is suitable for employers of any size
- NEST is designed for its members, your workers
- There is no ongoing administration for you if someone leaves your organisation
Although NEST pensions are great they may not be the best option for your workplace. If you are unsure if they are right for you, or just want to know more about other pension schemes available to you why not give one of our experts a call on 020 8394 0954?
Need help with Workplace Pensions?
We will ensure that you receive the very best advice as to the suitability of the contributions and, where appropriate, help you to implement your own pension scheme instead of being forced to adopt the Government’s default option. Find out more about contributions, the NEST payment process and NEST Charges,