DWP consults on draft laws to remove restrictions on NEST

09 October 2014

The Department for Work and Pensions (DWP) have opened a consultation on their plan to remove the annual contribution limit and transfer restrictions on pension schemes held with the National Employment Savings Trust (NEST).

The consultation runs until 29 October 2014, with DWP inviting views from legal advisers, pensions industry professionals, trustees and scheme managers on the draft Statutory Instruments that will remove the restrictions.

The Government say that they have secured the support of the European Commission for the changes, and intend to lay legislation before Parliament in the new year.