Aegon: NEST restrictions must stay

The provider said lifting the ban on transfers in and out of the scheme, and scrapping the maximum contribution limits would be a mistake and could result in the wrong kind of pension savers using NEST. Yesterday, the work and pensions select committee said the restrictions should be lifted as a matter of urgency. The MPs were backed by the majority of the industry. Aegon UK chief executive, Adrian Grace said NEST was set up to complement the existing private sector pension industry and was intended to plug a very specific gap. He said pension ‘experts' recommending the restriction...