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Thread: NEST pensions

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    Regular Member m8internet's Avatar
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    Default NEST pensions

    From March 2013 all employers must enroll "eligible" employees into a NEST pension

    I have just started reading up on this
    It was bad enough with Stakeholder pensions, which were optional for employees

    However, this has not been received by our employees very well
    They see it as an additional tax

    I am seriously looking for alternatives, which may see our company reintroduce the company pay pension scheme

    How are other employers dealing with this?
    Are they swapping from company schemes to NEST, or are they running both schemes together?

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    Regular Member m8internet's Avatar
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    Forgot to mention, we used to offer a private pension through our company supported plan by Scottish Widows
    However when Stakeholders policies came in we passed full management to them
    Their NEST equivalent does not have such good terms and three others I have looked at are quite similar

    The Scottish Widows company supported plan is much better (from an employees point of view) but it means they initially pay a higher rate, but after 5 years will be paying less into their individual plan
    From what I can see that would be the best way to sell it, to our long-term employees

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