Introducing NEST

Further reading

The Library contains downloadable PDFs of NEST publications including facts about the scheme, information on how NEST is run and useful documents for members, employers and advisers.Library

NEST is a straightforward workplace pension scheme for employers to use for their UK-based workers.

It means that employers can provide a workplace pension scheme for all of their workers, including those who may not have had access to a pension arrangement before.

NEST also makes it easy for employers to meet the new legal duties that start to be introduced in 2012.

Who is NEST for?

NEST for employers

Employers can use NEST on its own or alongside an existing scheme they have in place. From 2012, when the new employer duties start, employers will need to provide some or all of their workers with access to a qualifying pension scheme.

If the qualifying pension scheme they choose works on a defined contribution basis like NEST, then the employer will be required to make minimum contributions on behalf of some or all of their workers.

NEST for savers

NEST gives members one retirement pot for life, which they can keep contributing to. If they change jobs and their new employer uses NEST, they can still receive contributions from their new employer into their existing retirement pot.

Whether a member wants to have a say on how we invest their money, or prefers to let NEST choose for them, we will manage their retirement pot. We will aim to manage their money in an appropriate way for them.

NEST for advisers

NEST is open to employers of any size from any sector who want to meet their new employer duties being introduced from 2012. Automatic enrolment will create demand from more employers for workplace pension scheme advice. NEST can help advisers serve clients they may not have been able to serve before.