Protection is unlikely to join the national employment savings trust (NEST) project following a meeting between Government representatives and counterparts from the group risk industry.
The meeting also produced a call to arms for the industry and prompted three suggestions that could provide a solution to the protection gap - one that could save the government £4bn. An executive summary from the session, published by hosting trade body Group Risk Development (Grid), indicates that being added into the present NEST system is highly improbable. "Given the scale of the protection gap currently being experienced in the UK and the many parallels with the pensions, the temptation to consider whether NEST could be adapted to meet these needs is compelling," it says. "Co...
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