Appointment of National Employment Savings Trust Corporation Trustee Members

(Limited Text - Ministerial Extracts only)

Monday 20th June 2011 Written Statements

[The Minister of State, Department for Work and Pensions (Steve Webb)]

I am pleased to announce the appointment of the following trustee members of NEST Corporation:

Mr Iraj Amiri

Mrs Sharon Darcy

Mr Nigel Stanley

These appointments will take effect from 20 June.

The appointments will bring a wide breadth of knowledge and skills to NEST Corporation, particularly in the areas of representing the interests of consumers and financial management.

The new trustee members will join the current chair and six trustee members who were appointed last year. Together, they are the trustee of NEST and as such they have a fiduciary duty to act in the best interests of scheme beneficiaries. Trustee members are also responsible for setting the strategic direction and objectives for NEST.

NEST Corporation is the trustee body responsible for running the NEST scheme. It was set up under the Pensions Act 2008 as a non-departmental public body (NDPB) that operates at arm’s length from Government and is accountable to Parliament through the Department for Work and Pensions (DWP).