NEST cap 'will hurt some members' retirement income'

In its paper, The impact of the NEST contribution limits and restrictions to transfers, the PPI argued the government should remove the low-cost pension provider's constraints when auto-enrolment is fully implemented in February 2018. While the current contribution cap is "sufficient" for most people on low to median incomes to build retirement savings, PPI analysis showed older workers with no savings history were more likely to be constrained by the limit. Employees who wish to save more than the minimum contribution rate will also be hit. The paper said: "DWP's analysis has suggest...