To ask the Secretary of State for Work and Pensions, what estimate his Department has made of the cost of implementing proposals to allow the National Employment Savings Trust to offer retirement income products to its members; and how much has been spent to date on implementation of those proposals.
11 November 2016
We have recently undertaken a Call for Evidence to consider whether the National Employer Savings Trust should offer decumulation services and extend access to the scheme. The Call for Evidence closed on 5 October, and the Government is considering the full range of evidence submitted, including the likely potential implementation costs. We intend to publish our response in the New Year.