Nest Admin

Well nothing new there then £600m for admin of NEST that does not take account of the cost so far to arrive at NEST. Stakeholder came in but not the success it should have been due to the government of the day back tracking on compulsion for employer and employee contributions. Strikes me that the frame work was and is still in place for Stakeholder or PP ok not all will agree but surely legislation re compulsory contributions and enrolment to existing pension schemes would have been a much much cheap option or have I missed the point on this one. It is another sign of a bunch of government qangos (sorry past government qangos ) trying to re invent the wheel, when we have been using wheels for thousands of years. Let us hope that the new alliance will scrap this even if it cost £25m thus saving £575m plus the on going charges and let individuals take their own decisions about savings and pensions sad as that may seem. Or do we continue with a nanny state as most that do not wish or are unable to save would opt out anyway which is available under NEST.

Posted by: Jeff