14 November 2014
Back to news homeNEST Corporation has today published its governance statement in relation to the Pensions Regulators’ Code of Practice No. 13 for DC trust-based pension schemes.
The Code sets out the 31 quality features that represent the standard of governance and administration that TPR expect DC pension schemes to attain.
Chair of NEST, Lawrence Churchill says:
‘With our focus on governance and member value we are pleased to set out the governance features NEST has in place as part of this voluntary code. NEST Corporation takes governance and administration very seriously and has taken time to provide a detailed and comprehensive statement as to how the NEST Pension Scheme delivers in relation to the quality features set out by the Pensions Regulator.
‘Building on our record, it’s vital that our customers and members understand that this isn’t a paper exercise for us and they can feel assured that everything we do is focused on our members’ interests.
‘NEST is dedicated to ensuring that the scheme is run in an open and transparent way and seeks to follow best practice and guidance on pensions and corporate governance, including the Pensions Regulator’s six principles for good workplace defined contribution schemes and the HM Treasury/ Cabinet Office code on corporate governance.
‘By publishing this statement now we hope our customers will be able to see that NEST has achieved the standards which our stakeholders, including TPR, expect.
‘In line with established plans for our reporting of governance matters we will report back with an independently audited report against the new AAF 02/07 framework in 2015.
Notes to Editors
• Download the full statement from our website
• Find out more about how NEST is governed in the About Us section of our website
About NEST
NEST is a trust-based defined contribution workplace pension scheme established by law as part of the government’s automatic enrolment reforms. NEST is run on a not-for-profit basis by an independent Trustee.