NEST: removal of the annual contribution limit and transfer restrictions
13 April 2015
Draft legislation has been approved to remove the annual contribution limit and the transfer restrictions on NEST from 1 April 2017.
The National Employment Savings Trust (Amendment) Order 2015has been approved by parliament. The Order:
- removes articles so that there is no annual contribution limit for contributions made in each tax year by, or on behalf or in respect of, a member of the Scheme; and
- makes an amendment to lift the restrictions on transfers of a member’s pension account to another pension scheme.
Previous CIPP News
- NEST: removal of the annual contribution limit and transfer restrictions - 27 January 2015