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Independent quality assurance

The NEST scheme has robust governance structures and controls in place, in line with guidance set out by The Pensions Regulator (TPR) and other relevant bodies.

Our Master Trust assurance report outlines the controls we have in place in relation to the Master Trust assurance framework. This was developed by TPR and the Institute of Chartered Accountants in England and Wales (ICAEW) in Technical Release AAF 02/07 A framework for assurance reports on third party operations. The report gives employers and members assurance as to how the NEST scheme meets these standards. It's intended to help people identify a pension scheme with high quality governance and administration standards.

In producing this report, we’ve demonstrated to an independent assessor that we have the right controls in place to deliver quality services.

Together with our Pension Quality Mark (PQM) READY status and Defaqto 5 Star Rating, this demonstrates that NEST is independently recognised as a quality scheme for the auto enrolment market.

What the report is for

You can find answers to key questions about our Master Trust assurance report in this short overview.

Other recognition

The assurance report is just one of the ways that NEST has been independently recognised as a high quality auto enrolment scheme. Others include:

  • Pension Quality Mark READY – we’ve been independently assessed by the Pensions and Lifetime Savings Association (PSLA) and meet their quality standards on good scheme governance, low charges and clear member communications. Find out more about the Pension Quality Mark
  • Defaqto 5 Star Rating - we've been awarded a 5 Star Rating in the auto enrolment pension category from leading independent financial research company, Defaqto. This shows that employers choosing us for their workers can be assured that they’re getting a scheme with good governance, low charges and clear member communications. Find out more about Defaqto
  • Multi-award winning scheme - we've won multiple awards as a pension provider. Recent awards include MoneyAge Awards 2016: Pension Provider of the Year, Financial News 2016: Best DC Scheme, SME Awards 2016: Auto Enrolment Provider of the Year, Corporate Adviser awards 2016: Best Master Trust; Pension and Investment provider awards 2015: Multi-employer DC Provider of the Year.
  • Award-winning investment approach - our investment approach exceeds all regulatory guidance and we've won multiple awards for our high-quality and innovative approach to looking after members’ money. Recent awards include Investment and Pensions Europe (IPE) 2016: Best European Pensions Fund, Institutional Investor Peer To Peer Awards  2016: Best ESG programme, IPE awards 2015: Best DC/Hybrid award and Chief Investment Officers’awards 2015: Best DC fund. Find out more about our investment approach

Download the report

If you want more information about how the NEST scheme meets the requirements of this framework, download an extract of our independent Master Trust assurance report.