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1142055

	registered interest
	date	25/07/2019
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	National Employment Savings Trust Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, what her Department's policy is on ensuring that the investment strategy for NEST remains independent.
	tabling member constituency	Wallasey
	tabling member printed	Ms Angela Eagle
	uin	282209
	answer	answer is ministerial correction date of answer 03/09/2019 answer text <p>The Nest Corporation is the Trustee of the National Employment Savings Trust (Nest) pension scheme. It is a public corporation, established by the Government in 2010 to support the delivery of automatic enrolment. Nest has more than 8 million members and assets under management of over £6 billion.</p><p> </p><p>The Nest Corporation operates independently of central Government and is responsible for the day to day operation of the scheme, including its approach to investments. The Pensions Act 2008 establishes that investment decisions in the Nest pension scheme are the responsibility of the Trustee, in accordance with existing trust and pension law. This ensures that investment decisions remain independent and are made free from political pressures. Nest Corporation has sole power to invest the assets of Nest.</p><p> </p><p>Like every other Trustee, Nest Corporation has a duty to run the scheme in the best interest of its members. The Trustee of Nest produces a Statement of Investment Principles which sets out how the Trustee will invest Nest members’ money. The Statement of Investment Principles is prepared in accordance with all relevant legislation and best practice guidelines. It outlines the principles and policies governing investment decisions made by, or on behalf of, the Trustee for the management of Nest’s assets.</p> answering member constituency Hexham answering member printed Guy Opperman grouped question UIN 282210 question first answered 03/09/2019 15:14:19 answering member 4142 label Biography information for Guy Opperman
	tabling member	491 label Biography information for Dame Angela Eagle

1142060

	registered interest
	date	25/07/2019
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	National Employment Savings Trust Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, what her Department's policy is on the role of NEST trustees in making investment decisions.
	tabling member constituency	Wallasey
	tabling member printed	Ms Angela Eagle
	uin	282210
	answer	answer is ministerial correction date of answer 03/09/2019 answer text <p>The Nest Corporation is the Trustee of the National Employment Savings Trust (Nest) pension scheme. It is a public corporation, established by the Government in 2010 to support the delivery of automatic enrolment. Nest has more than 8 million members and assets under management of over £6 billion.</p><p> </p><p>The Nest Corporation operates independently of central Government and is responsible for the day to day operation of the scheme, including its approach to investments. The Pensions Act 2008 establishes that investment decisions in the Nest pension scheme are the responsibility of the Trustee, in accordance with existing trust and pension law. This ensures that investment decisions remain independent and are made free from political pressures. Nest Corporation has sole power to invest the assets of Nest.</p><p> </p><p>Like every other Trustee, Nest Corporation has a duty to run the scheme in the best interest of its members. The Trustee of Nest produces a Statement of Investment Principles which sets out how the Trustee will invest Nest members’ money. The Statement of Investment Principles is prepared in accordance with all relevant legislation and best practice guidelines. It outlines the principles and policies governing investment decisions made by, or on behalf of, the Trustee for the management of Nest’s assets.</p> answering member constituency Hexham answering member printed Guy Opperman grouped question UIN 282209 question first answered 03/09/2019 15:14:19 answering member 4142 label Biography information for Guy Opperman
	tabling member	491 label Biography information for Dame Angela Eagle