(My Original Blog Post: http://ping.fm/31peY)
The Personal Accounts Delivery Authority (Pada) confirmed which company is to administer the new NEST Scheme (formerly Personal accounts).
PADA confirmed that Tata Consultancy Services (TCS) will provide the administration of the scheme when it is launched. Pada will sign a contract with TCS later this month.
The NEST will force employers to contribute to a pension arrangement on behalf of their employees. Employees will also be required to contribute.
Employers will either automatically enrol employees into the scheme or provide an alternative arrangement that meets certain criteria.
To find out more about pension advice and employers responsibility when the Nest scheme is launched click on the links.
Angela Eagle, minister of state for pensions, said: 'Together with automatic enrolment, Nest will help millions of people save for their retirement, with a guaranteed employer and Government contribution.'
