CSR: Nest to go ahead in 2011

The government has confirmed the National Employment Savings Trust (Nest) will go ahead as part of the auto-enrolment reforms.

In a paragraph in today’s Comprehensive Spending Review (CSR), it says: “The Department for Work and Pensions settlement includes… funding for the introduction of auto-enrolment and the establishment of Nest, to help individuals save for their retirement and encourage high quality pension provision by employers.”

In a statement, Tim Jones, the chief executive of Nest, says: “The work we have been doing over the summer has ensured that Nest is now really taking shape and will be ready to launch in low volumes in 2011.”