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.

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