Order and rules

Nest’s order is the legal document that establishes the scheme and appoints Nest Corporation as the Trustee. This can only be amended by Parliament.

The Nest rules document sets out how the scheme is designed and operates. This can be amended by Nest Corporation.

Together the Nest order and rules make up the governing documentation of the scheme.

Nest’s order and rules took effect on 5 July 2010.

The Nest order was last amended on 25 May 2018. The Nest rules were last amended on 9 September 2019. The update made to the rules was to: 

Add a new Rule 18.2 which allows Nest members to opt in to the exercise of discretion by the Trustee on the payment of death benefits. Members can opt in to this by completing an expression of wish form indicating who they would like the beneficiaries of their pension pot to be in the event of their death.

On their death, the Trustee will then decide whether to pay their pension pot to the beneficiaries listed on the expression of wish form. If the Trustee decides not to pay to any of the beneficiaries listed on the form, the money will usually be paid to the member's estate.

Please note the Nest Rules are currently being consulted on (the consultation closes 16 January 2024). Please view the Rule Change Consultation (PDF) to provide your views.