THE REMOVAL OF RESTRICTIONS ON NEST

Following the recently announced proposed removal of restrictions on NEST, the Chartered Institute of Payroll Professionals has issued the following statement from Karen Thomson, Associate Director of Policy & Research:

“It is a relief to see the government applying common sense, and listening to the industry; not only employers but individuals too. When the CIPP policy team recently asked the CIPP members for their opinion in the Call for Evidence consultation the results showed:

·More than 60% believe any changes should be introduced before 2018, with nearly 50% stating the sooner the better

·80% believe NEST should participate in an automatic transfer system

·Nearly 89% believe NEST should have the same transfer rights as other pension providers

·65% believe bulk transfers should be facilitated; and whilst many did not believe the cap to be a reason for not using NEST many believed it didn’t provide for a fair playing field.”

ENDS

The Chartered Institute of Payroll Professionals is a 28 year-old membership organisation for payroll professionals in the UK. The Chartered Institute offers:

  • Training and professional payroll and pension qualifications
  • Professional designatory letters, e.g. MCIPP
  • Advisory Service and e-newsletter with all the latest industry news called News On Line
  • Continuing Professional Development programme encouraging self-improvement and career development structure
  • Unique standards-based accreditations such as PQP and the Payroll Assurance Scheme for processes and procedures
  • A membership magazine issued ten times a year called PayrollProfessional
  • Representation at the highest levels of government through a very active policy team
  • Participation in a long range strategy to change the perception of the payroll profession
  • Regular events, meetings, conferences

Please visit the CIPP website for more information, www.cipp.org.uk

For all media enquiries regarding this release please contact:

Becky Westaway, CIPP Public Relations Officer on 07813 052230 / pr@cipp.org.uk