Nest hits back at Xafinity research
Take-up of Nest after auto-enrolment higher among large employers than Xafinity research suggested, corporation claims.
About one in five large employers in the private and not-for-profit sectors are likely to use the National Employment Savings Trust for some groups of workers as their solution for auto-enrolment, research by Nest Corporation suggests.
A survey of employers by the Nest Corporation found 21 per cent of large employers - those with at least 5,000 employees - and not-for-profit sectors said they are “quite likely” or “very likely” to use Nest for some groups of workers.
Around 16 per cent of employers said they were undecided, and the majority of the large employers who said they would use Nest would do so alongside another scheme.
These figures contradict findings by pension provider Xafinity, in which a poll found that zero of 50 HR, payroll and pensions professionals said they plan to use Nest for all its employees.
Tim Jones, chief executive of Nest Corporation, said: “Large employers who say they are likely to use Nest report that it is likely to be used alongside existing provision.
“That’s one of the roles Nest is intended to play - complementing existing schemes. We are already working closely alongside private pension providers and expect that to continue.”