Atkin trustees, actuaries, consultants & administrators

NEST will be more popular than current predictions indicate

Atkin & Co, the pension scheme administrator and actuarial consultant, has today argued that the National Employment Savings Trust (NEST) could be a more popular choice than currently being predicted, particularly for smaller employers.

Chris Atkin, Director, commented: “Many smaller companies, unfortunately, are likely to leave it late to instigate arrangements for auto-enrolment and may not have the time, inclination or resources to carry out proper due diligence on all the different auto-enrolment options.  Without a proper process, such employers will be at risk if things go wrong and we may, therefore, see a flight to NEST as the safest option.

“Further to that, alternative schemes, which unlike NEST, will not benefit from the status as the default Government option will be in a very competitive environment. As such, given a lack of resources and possibly know-how, we may see small employers selecting NEST in order to avoid potential miss-selling scandals and legal battles. Anything from lack of advice over options, the incorrect set up of the scheme or an inadequate reorganisation of the existing scheme could create issues by which members are let down.”

Atkin continued: “As a result of all this, it is likely that NEST will become a much bigger player than is currently predicted as NEST may appear a much easier and safer option.”

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The service provided was at such high level that I have subsequently introduced Richard to other Final Salary Schemes and continue to be continually impressed with the level of service. Atkin are responsive and understanding and are quick to identify potential issues before they arise. Communications between the employer, adviser, Actuary, accountant etc. are excellent & I have no hesitation in recommending them.

Mike Emery, Ashley Law