Why Must We Have QWPS, QQWPS or NEST?

It is a legal requirement under The Pensions Act 2008 that all companies with any number of employees have a Qualifying Pension Scheme or NEST in place by their staging date between October 2012 and 2017.

The Government decided that people were not saving enough, if anything, for their retirement and state benefits will not be sufficient to cover lost income. The Pensions Act 2008 was made confirming that all Employers must provide a pension scheme for their employees and this was to be brought in over a period of time between 2012 and 2016.