Sixth Delegated Legislation Committee

15 April 2026

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Committee Wed, 15 Apr 2026 House of Commons

00:07 - 00:11

Speaker 4

The draft National Employment Savings Trust amendment order 2026.

00:12 - 00:14

Speaker 2

I call the minister to move the motion.

00:14 - 01:39

Speaker 3

Thank you, mister Jardim. It is a pleasure to serve under your chairship. I beg to move, that the house consider this statutory instrument, was laid on the 02/26/2026. Automatic enrollment is a major policy success that has substantially increased workplace pension participation. The National Employment Savings Trust has been central to this progress and remains critical to the system's continued effectiveness.

NEST now supports nearly 14,000,000 members around one third of the working age population, providing a low cost, accessible pension scheme for employers and workers across The UK. Subject to Parliament's approval, this instrument amends the NEST order 2010, which sets out the legislative framework for Nest's operation. The amendment will allow Nest to expand its retirement options to include flexi access drawdown, FAD. FAD is a retirement income option that allows individuals with a defined contribution pension to withdraw any amount from their pension pot while keeping the remaining funds invested. This instrument also enables NEST to offer a scheme pension paid directly by the scheme administrator or through an appointed insurer and gives the trustee authority on a member's death to provide a dependent scheme pension or drawdown pension to eligible individuals including dependents, nominees and successors.

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