PRESS RELEASE: PTL Meeting with Employers identifies NEST Requirements and Alternatives

Pitmans Trustees Ltd (PTL), a leading independent trustee and governance services provider, today announced the outcomes of a NEST Alternatives Roundtable held with large employers.

The purpose of meeting, hosted by PTL, was to create a template of requirements for providers to consider when designing products for the NEST Alternative market.  The attendees were all pension managers of large schemes between them representing approximately one million employees with pension assets of around £30 billion.

Key findings and requirements centered on

• Fund charges
• Communications
• Contributions
• Investment Options
• Protection of Assets
• Administration
• Decumulation
• Branding

Commenting, Darren Jefferson said, 'Our informal research at this meeting demonstrated what we, and indeed the market, has suspected for some time – a large number of employers will be opting out of  NEST and, as such, are looking for good/viable alternatives.  This round table got some of these large employers together so that they could define the common items on their ‘shopping list’. We believe this list should save providers having to re-invent the wheel and also allow employers to benefit from economy of scale. It will also make the process of opting out a more efficient reality for employers.’  

PTL are happy to share the minutes from this meeting to anyone at request.

Please contact DJefferson@pitmanstrustees.com

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