Following the recently announced proposed removal of restrictions on NEST, the Chartered Institute of Payroll Professionals has issued the following statement from Karen Thomson, Associate Director of Policy & Research:

“It is a relief to see the government applying common sense, and listening to the industry; not only employers but individuals too. When the CIPP policy team recently asked the CIPP members for their opinion in the Call for Evidence consultation the results showed: More than 60 percent believe any changes should be introduced before 2018, with nearly 50 percent stating the sooner the better; 80 percent believe NEST should participate in an automatic transfer system; Nearly 89 percent believe NEST should have the same transfer rights as other pension providers and 65 percent believe bulk transfers should be facilitated; and whilst many did not believe the cap to be a reason for not using NEST many believed it didn’t provide for a fair playing field.” The Chartered Institute of Payroll Professionals is a 28 year-old membership organisation for payroll professionals in the UK. The Chartered Institute offers:

Professional designatory letters, e.g. MCIPP Advisory Service and e-newsletter with all the latest industry news called News On Line Continuing Professional. Development programme encouraging self-improvement and career development structure Unique standards-based accreditations such as PQP and the Payroll Assurance Scheme for processes and procedures. A membership magazine issued ten times a year called PayrollProfessional. Representation at the highest levels of government through a very active policy team Participation in a long range strategy to change the perception of the payroll profession Regular events, meetings, conferences