NEST consults on changes to scheme rules

NEST (National Employment Savings Trust) has today issued a consultation on proposed changes to its scheme rules, which bring aspects of the scheme into line with changes to pension legislation and takes account of the lifting of the restrictions on NEST from April 2017.

The consultation covers various technical items pertaining to NEST’s rules. These include:

Updates to NEST’s rules to allow lump sums and partial lump sums to be paid as benefits as provided for by the ‘freedom and choice’ changes introduced in April 2015
Changes which reflect amendments Parliament has made to the NEST order and their revocation of the ‘Disapplication regulations’ (both from 2017), to lift the restrictions on NEST
‘Tidying up’ changes, for example to bring the rules into line with recent legislative changes such as the change to pension input periods

The consultation can be found on NEST’s website

The consultation runs from 20 January 2016 to 21 March 2016. Please ensure your response reaches NEST Corporation by the closing date of 21 March 2016. Responses can be sent by email or by post, details for which are given in the consultation document.

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