0370 270 6000

already registered?

Please sign in with your existing account details.

need to register?

Register to access exclusive content, sign up to receive our updates and personalise your experience on brownejacobson.com.

Privacy statement - Terms and conditions

bigger NEST egg?

25 November 2010

The trustee body of the National Employment Savings Trust (“NEST”) announced yesterday that there will be a reduction in the proposed contribution charge from 2% to 1.8%.

The annual management charge remains at 0.3%, which will be payable from the employee’s pension pot annually.

The reduction in the monthly contribution charges will mean that employees who are members of NEST will see more of their and their employer’s contributions in their pension pot rather than swallowed up in administration costs.

The contribution charges were put into place to cover the initial set up costs for NEST. Once the set up costs have been recouped, it will be interesting to see whether there are any corresponding adjustments to the contribution charges.

related opinions

Home Office Central Registry for modern slavery statement goes live - first universities publish statements

The Home Office recently launched a central registry for modern slavery statements. A growing number of educational organisations, including a number of universities, have published statements on the registry.

View blog

Equal pay at ASDA stores - appeal to the Supreme Court unsuccessful

35,000 workers working in ASDA’s retail business sought to compare themselves to workers at distribution depots for equal pay purposes. Find out more about this Employment Appeal Tribunal.

View blog

Supreme Court confirms that sleep ins are not working time

The Supreme Court judgment represents the conclusion on whether or not “sleep in time” should be classified as working time, when calculating the National Minimum Wage (NMW).

View blog

Mencap case: No entitlement to National Minimum Wage for sleep-in shifts

In a pivotal and much anticipated judgment for the social care sector, the Supreme Court has ruled that workers are not entitled to the National Minimum Wage for all time spent on a sleep-in shift.

View blog

mailing list sign up



Select which mailings you would like to receive from us.

Sign up