Restrictions on the National Employment Savings Trust (NEST) could leave medium-sized employers with only one provider to choose from for auto-enrolment, the pensions minister has said.
Webb made the comments after the government published a call for evidence looking for comment on removing the annual contribution limit and transfer restrictions into NEST. The move comes despite repeated refusals from pensions minister Steve Webb to examine the restrictions before a scheduled review in 2017. But Webb told IFAonline sister title Professional Pensions he had become concerned that medium-sized employers would face a limited choice because of the restrictions. He said: "We don't think we have a problem on day one, we think the big firms that are auto-enrolling now are...
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