I’m not sure a blog has ever been written around one person’s tweets of an event, but Jo Cumbo’s online reporting of the Public Accounts Committee’s session on auto-enrolment is so excellent that I thought to hand over to her twitter feed!
It was an important session, following the recent report of the National Audit. There were no questions (it would seem) about pressing the panic button , as widely reported in the Telegraph and more recently in Corporate Adviser. The issues dealt with were proper issues, those discussed in this blog and those of national interest. Top of the list was the accountability of NEST and the need for it to be clear on how it clears its debt.
There has to be an urgent and cogent discussion on NEST pricing if we are not to have pricing distortions that could lead to major market disruption next year.
Over to Jo…
Jo’s summary statement
Who gave evidence (from the public sector)
Questions on “Workie”
Charles Counsell on choice and workplace pension investment
Helen Dean on NEST investment
Questions on small pots following members
Charlotte Clark on costs and charges in “Workie”
Questions on savings levels
Charles Counsell on supporting SMEs
Questions on the capacity of NEST to repay its public debt
Questions on opt outs and cost to Treasury of low opt-out rates
Questions about the roll-out of staging (the timetable)
(TBC) I will publish the private sector session in a separate blog.
Thanks to Jo for excellent reporting, if I have misrepresented her reportage, I am sure she will be in touch!
Any comments on whether this format for a blog is helpful – most welcome!