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The attached article relates to the forthcoming introduction of the National Employment Savings Trust (NEST) which, for larger employers, comes into force in October 2012.
Those employers will now be receiving written guidance from the regulators as to their responsibilities and, of course, how the new system will operate. In a Defined Contribution (Money Purchase) arrangement, the minimum contribution is 8% of qualifying earnings, with at least 3% be paid by the employer. Please read on. If you require any further assistance please contact me by phone or e-mail at your convenience.