Nest scheme opens to transfers

Nest, the government-backed pension scheme provider, is to allow employees to transfer old pensions into their Nest accounts. Some 4 million people have their auto-enrolment pension managed by Nest, and many of them have old pensions from former employers. Nest’s low charges could make transferring to it attractive, but the best advice is that people should always check whether their old contracts incorporate valuable guarantees that would be lost on transfer.