A_guide_to_NEST
Transcript of A_guide_to_NEST
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A Guide to the
NationalEmployment
Savings TrustHelping an estimated seven million employees who are not puttingmoney aside for their retirement to start saving for tomorrow, today
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Emloes can stat sin NEST om
2011 i the ant to. Hoee, the
ont be eie b la to enol
okes into a aliin ension
scheme ntil 2012 at the ealiest.NEST is bein intoce b the
oenment to hel eole sae moe
o thei etiement. Emloees ill
hae one NEST etiement n o
lie, hethe the chane jobs, ok
o moe than one emloe at the
same time, o leae emloment.
Lae emloes ill hae to
coml ith the ne oklace
ension ties ist, ith meim an
smalle emloes hain to coml
oe the olloin e eas.
OptiOn tO Opt Out
NEST ill inole emloees ho ae
not alea a membe o a econise
oklace ension scheme.
Emloees ill be ato-enolle
b thei emloes bt the ill be
ien the otion to ot ot. Hoee,
emloees shol think e caellbeoe the o.
The emloees mone as ell as
contibtions om thei emloe an
an tax elie om the oenment
can be ineste in ieent tes
o inancial octs sch as
coman shaes, oet o loans to
oenments that a inteest.
MiniMuM nESt cOntributiOnS
Initiall the minimm NEST
contibtion ill be 2 e cent o anemloees aliin eanins. O
this, the emloe ill nee to a at
least 1 e cent, thoh the can a
moe i the ant to.
The oeall minimm contibtion
ill ise aall to 8 e cent b
2017, o hich the emloe ill nee
to a 3 e cent. The emloee ill
hae to a 5 e cent (ith 1 e
cent o this comin om tax elie).
nEw autO-EnrOlMEnt
The ne ato-enolment obliations
ill aect emloes o all sizes
an ill be hase in beteen
2012 an 2016. Emloes ill hae
esonsibilit o ain contibtionsinto a ension both om them
an the emloees as ell as
commnicatin ith sta an ensin
the ension scheme is comliant.
An emloees atne o othe thi
at can also a contibtions into
NEST on thei behal. These aments
ill cont toas the emloees
annal contibtion limit. The annal
contibtion limit is the maximm
that can be ae to the emloees
etiement n in one ea. Thisincles contibtions om them an
thei emloe as ell as tax elie
om the oenment. The amont is
centl 4,200 o the 2011/12 tax
A Guide to the NAtioNAl employmeNt SAviNGS truSt
A Guide to the NAtioNAl employmeNt SAviNGS truSt
Moe than hal o emloees ae not aae that the col be
atomaticall enolle into a ne national ension scheme
calle the National Emloment Sains Tst (NEST), ith
man likel to be sise hen emloes stat takin
ections om thei a, eseach om HSBC has on.
National
EmploymentSavings TrustHelping an estimated seven million employees who are not puttingmoney aside for their retirement to start saving for tomorrow, today
-
7/30/2019 A_guide_to_NEST
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ea. This ie is ajste annall in
line ith aeae eanins.
taking MOnEy Out
Tanses in an ot o NEST ae not
alloe (excet in seciic limite
cicmstances); hoee this ill be
eiee in 2017.
Emloees ma be able to take
thei mone ot o NEST beoe the
ae ae 55 i the become ill an
i the ae seiosl ill, the ma be
able to take thei entie n astax-ee cash.
I the emloee ies ematel
io to etiement thei etiement
n ill nomall be ien to the
eson o nmbe o eole the
ant to eceie it. The beneicias
etails ae oie on joinin NEST.
nESt chargES
Emloees ill a a small
ecentae chae o each ne
contibtion that oes into thei
etiement n.
n This contibtion chae is
set at 1.8 e cent, so om a
contibtion o 100, 98.20 oes
into the emloees n.
n Thee is also an annal
manaement chae (AMC) o
0.3 e cent o the total neach ea. n
A Guide to the NAtioNAl employmeNt SAviNGS truSt
A Guide to the NAtioNAl employmeNt SAviNGS truSt
THE AIM IS fOr THE NEwAuTO-ENrOLMENT OBLIgATIONSIS TO HELp AN ESTIMATEd SEvENMILLION EMpLOyEES wHO ArENOT puTTINg MONEy ASIdE fOrTHEIr rETIrEMENT TO STArTSAvINg fOr TOMOrrOw, TOdAy.fOr INfOrMATION ABOuT NEST,pLEASE CONTACT uS TO dISCuSSyOur rEquIrEMENTS.
Emloes canstat sin NEST
om 2011 i the ant to.Hoee, the ont beeie b la to enolokes into a aliinension scheme ntil2012 at the ealiest.
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Published by Gn ma l, Prudence Place, Luton, Bedfordshire, LU2 9PE
Articles are copyright protected by Goldmine Media Limited 2011. Unauthorised duplication or distribution is strictly forbidden.
National Emloment Sains Tst is elate b the pensions relato. Content eate is o o eneal
inomation an se onl an is not intene to aess o aticla eiements. It shol not be elie
on in its entiet an shall not be eeme to be, o constitte, aice. Althoh eneaos hae been mae
to oie accate an timel inomation, thee can be no aantee that sch inomation is accate as o
the ate it is eceie o that it ill contine to be accate in the te. No iniial o coman shol acton sch inomation ithot eceiin aoiate oessional aice ate a thooh examination o thei
aticla sitation. we cannot accet esonsibilit o an loss as a eslt o acts o omissions taken in esect
o an aticles. The ension an tax les ae sbject to chane b the oenment. Theshols, ecentae ates
an tax leislation ma chane in sbseent finance Acts. The ale o n nits can o on as ell as an
inestment oth is not aantee.