In this section you will find details of NEST’s completed consultations.
We’re proposing some changes to the NEST rules. They reflect recent changes to legislation or are small tweaks that allow us to simplify our processes.
NEST's governing documentation is set out in the scheme order, which establishes the legal structure, and the scheme rules, which set out how NEST will operate in practice. These were published in March 2010 and two changes were made to the rules following a consultation in 2011.
On 30 October 2012 we began a consultation period on the current proposals which runs until 26 November. At the same time, the DWP is consulting on a number of minor changes to the NEST order. This consultation can be found at http://www.dwp.gov.uk/consultations/
The Pensions Act 2008 required the pension scheme we now know as NEST to be established. NEST’s predecessor the Personal Accounts Delivery Authority (PADA) and the Department for Work and Pensions (DWP) issued a joint consultation paper called the draft scheme order and rules. This was to help determine how the scheme would work.
A summary of responses to the joint public consultation was published in October 2009. View the Summary of responses on the scheme order and rules (PDF, 130KB)
Read more about the consultation on the legal structure of NEST (PDF, 88KB)
In May 2009 PADA published a discussion paper to support the public consultation process on designing an investment approach for NEST.
Read more about the general information on the investment consultation (PDF, 95KB)
A key challenge for the design of NEST is how members secure a retirement income. This consultation was initiated in December 2008.
Read more about the securing a retirement income consultation (PDF, 93KB)
To pay for its set up and running costs, NEST will need to charge its scheme members. In March 2010 the Government announced that NEST’s proposed combination charge would be made up of an annual management charge (AMC) and a charge on contributions.
This briefing note explains how the proposed combination charge for NEST meets NEST Corporation’s low charge objective.
Read more about the choosing a charging structure consultation (PDF, 91KB)