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COVID-19 (Coronavirus) – Gemini Update.

3rd June 2020

We are in unprecedented times. In line with current Government guidelines, we have taken the decision to close our offices and we are operating a working from home policy for the majority of the team.

However, to reassure you, it is business as usual!

We are still available to contact by phone and email as all our systems can be accessed and operated remotely. Face to face meetings, however, are on a strictly emergency basis only.

Indeed, it is times like these where you may need to seek additional advice from financial services professionals. Both our Wealth Managers and Estate Planning Consultants remain available to assist you and are able to offer guidance on the phone, by email or by video technology.

Please contact us FREE on 0800 255 0123 or email info@gemini-wm.com where we will do our best to assist you.

Family & Friends – If any of your family, friends or colleagues would like to seek assurance from a financial professional, please do pass on our details. Please be aware, any such introductions will be treated with the same confidence and care we give to all of our clients.

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What is NEST?

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The National Employment Savings Trust (NEST) is a defined contribution workplace pension scheme set up by the UK government to support auto-enrolment. NEST provides one pension pot per person, ensuring a simple, cost-effective, easy-to-track pension scheme for individuals who might subsequently change their job or stop working altogether. Although NEST used to cap the amount of money that a member could save into their pot, these restrictions were removed in April 2017, allowing workers to save as much as they like.  

Any UK company can choose to use NEST to help them meet their new obligations. An employer can use NEST as its only workplace pension scheme or alongside another scheme. If NEST is unsuitable for the entire workforce, the employer can choose to use NEST for one group of employees and another pension scheme for employees who fall within a different category. 

NEST members can choose from a total of six funds in which to invest their pension pot. Retirement Date Funds target the year in which the saver expects to withdraw their money, and NEST also offers Ethical, Higher Risk, Lower Growth, Pre-retirement, and Sharia options. However, the majority of members are expected to opt for the default-option Retirement Date Funds. NEST’s charges are relatively low, comprising an annual management charge of 0.3%, and a charge of 1.8% for each contribution. At present, NEST is available free of charge for any UK employer who wants to use it. 

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Gemini Wealth Management Ltd is Authorised and regulated by The Financial Conduct Authority Registered in England & Wales No. 5919877 Registered Office: Gemini House, 71 Park Road, Sutton Coldfield, West Midlands B73 6BT The Financial Conduct Authority does not regulate tax and trust advice, will writing and some forms of buy to let mortgages. The guidance and/or advice contained in this website is subject to regulatory regime and is therefore restricted to those based in the UK.

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