McClymont urges removal of NEST restrictions

Speaking at the launch of the LV='s State of Retirement Report McClymont described auto-enrolment as "the key to improving the architecture of Britain's pension system". He continued: "It is great providers like NOW and B&CE have come in to provide competition but should we get rid of the restrictions on NEST?" Such restrictions include the imposition of an upper limit on contributions. Legislation also prevents transfers in or out of NEST. McClymont also noted that the challenge "was to bring public opinion into line with the pension system." This disparity was highlighted in t...