Nest has become a member of the Association of British Insurers (ABI), joining the voice of the UK’s leading insurance and long-term savings sector.
Nest, the National Employment Savings Trust, is a workplace pension scheme with more than 12.6 million members which was established in 2008 to help support the introduction of automatic enrolment. It becomes the new Master Trust to join the ABI following changes to amend our membership criteria, enabling us to work together on areas of shared interest.
Yvonne Braun, ABI Director of Long-Terms Savings, said:
“We’re thrilled to be joined by Nest as the latest member of the ABI. Nest has been crucial to making auto-enrolment in workplace pensions a reality. As the UK’s biggest Master Trust, the expertise and insight Nest will bring to our work to help people save for their best possible retirement will be invaluable, and we are greatly looking forward to working closely with them.”
Gavin Perera-Betts, Nest’s Chief Customer Officer, said:
“Automatic enrolment revolutionised the UK’s pension landscape, bringing millions of people into pension saving, many for the first time. We want to ensure we build on this success, working with the ABI and the industry to support people saving for their retirement.
“We are looking forward to working with the ABI over the coming years and I am pleased to be joining the Long Term Savings Committee to work with colleagues across the industry, representing the best interest of Nest’s members”
Notes for Editors
About Nest
Nest was set up by the government to give every UK worker somewhere good to save, and it aims to provide members with a bigger pension in a better world. It’s now the largest workplace pension scheme in the country, with 12.6 million members. One in three of the working population is expected to have a Nest pension pot by the late 2020s.
Nest’s members benefit from an award-winning responsible investment strategy and one of the most diversified DC portfolios in the industry. Nest safeguards over £33 billion assets on its members’ behalf and by the end of the next decade Nest will have close to £100 billion assets under management.
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