NEST (National Employment Savings Trust) has today announced it has enrolled 2 million members (available here). This equates to a new member joining NEST every 40 seconds. 45,000 small and micro employers will auto-enrol their staff this year.

Nathan Long Head of Corporate Pension Research at Hargreaves Lansdown;

“NEST should be proud of its achievement in hitting the two million member mark. However, with some very busy months ahead, perhaps the champagne corks should remain un-popped for now”. With many advisors steering clear of auto-enrolment advice and no centralised list of pension providers, employers will flock to what many will perceive as the ‘default’ auto-enrolment scheme. For auto-enrolment to truly be labelled a success, much depends on NEST enabling smaller employers to quickly and easily set up a pension in the face of huge volumes. Congratulations NEST, now the really hard work starts.”