Jargon Free Benefits founder Steve Bee has welcomed news that the government plans to legislate for the lifting of NEST's contribution cap and transfer restrictions in 2017, calling the limits "crazy" - and saying they should be removed today.
Removing the cap on contributions by April 2017 means that the cap will be gone before minimum contributions phase up from their current level. Bee (pictured) said the move was "good news", adding that he never understood why there were restrictions in the first place. "Pensions are confusing enough for people without having several different regimes. There is no sensible reason why we should have two different pension regimes depending on who you work for, it's crazy. "Anything that makes pensions more confusing is a bad thing. We need more control over pensions, not less." How...
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