Pada settles on national employment savings trust (Nest) for personal accounts

The Personal Accounts Delivery Authority (Pada) has announced that National Employment Savings Trust (Nest) will be the new permanent name for personal accounts, due to come into effect under workplace pensions reform in 2012.

Nest will be run by a not-for-profit trustee body, the Nest Corporation. Pada developed the brand identity after carrying out research among 3,200 jobholders, employers and advisers, and working with external specialist agencies.

Jeannie Drake, acting chair of Pada, said: "We have one goal in mind: to make saving for retirement become the norm."