MPs: govt must scrap NEST restrictions now

The Work and Pensions Committee repeated its position that the cap on annual contributions to the NEST scheme, and the ban on transfers in and out should be removed as a matter of urgency. Committee chairman Dame Anne Begg said: "Since auto-enrolment began, the case for lifting the restrictions has become even more powerful, and the need for action more pressing. "For auto-enrolment to continue to work successfully, NEST must be allowed to thrive." NEST is the nationwide pension scheme set up using government loans. Automatic enrolment means all employers will eventually have t...