The government-backed master trust scheme Nest has now reached the 400,000 employer mark, it has announced.

According to Nest director of business development Paul Budgen, the scheme attracted a further 300,000 employers just 15 months after it announced passing a total of 100,000 employers.

Following the introduction of auto-enrolment in 2012, large number of employers increasingly needed a scheme that was easy to access and straightforward to understand as many had never set up or run a pension scheme before.

With this, Nest has noted that “a consistent theme” in responses to its surveys is that it is an easy scheme to administer.

The scheme has also recognised the importance of continued technical innovation to maintain the success of auto-enrolment and with helping large volumes of smaller businesses to comply. Nest offers payroll software through NEST Web Services and making the scheme available to intermediaries to help their clients via NEST Connect.

The growth “shows just how rapidly we are growing and we are proud to play our part in helping employers meet their duties and help their employees prepare for their retirement safely,” Budgen commented.

“As we have worked with different types of employer it has become obvious that all organisations, regardless of size, want a pension provider they can trust. Integrity comes from good governance, a reliable service and from consistent investments which deliver value for money to its members. I have worked at NEST for just over four years and in that time the scheme has developed enormously and has delivered fantastic outcomes to an ever-expanding member base. I look forward to welcoming many new employers and members to the scheme and am excited to see where NEST will be in another four years’ time.”

Share Story: