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Opting out

If you’re automatically enrolled but you don’t want to be a member you can opt out of NEST during your opt-out period. This is usually around one month from the date your employer enrols you. We’ll tell you exactly when the opt-out period starts and ends in the letter we send you after you’re enrolled.

If you opt out before the end of your opt-out period then you’ll get back any money you’ve contributed. We’ll refund your money to your employer within 10 working days of them letting us know you’ve opted out. Your employer will make the refund directly to you. If you miss your opt-out period you won’t be able to get your money back until you’re at least 55.

If you opt out you’ll miss out on any employer contributions you might be entitled to and tax relief from the government. You’ll also miss out on the opportunity to have your money grow in a NEST retirement fund. So think carefully before you decide to opt out. Any contributions made to your pot during your opt out window won’t earn any interest as they are not yet invested by NEST.

A graphic illustrating opt out

What will I get?

If you’re thinking about opting out it’s worth remembering that the longer you save with NEST the more you’ll get. This is because you’ll get tax relief from the government and contributions from your employer as well as whatever you put in. And because your NEST retirement pot is invested it’s likely to grow faster than the cost of living.

What happens to your money

Looking after your money is the most important thing we do. Our NEST Retirement Date Funds are designed to protect it and make it grow over the long term. This means your money will be ready for you when you need it.

If you’re planning to opt out, you’ll need your NEST ID. You’ll find your NEST ID in your member welcome pack which you will receive within three working days of being enrolled. If you haven’t received your welcome pack within five working days, ask your employer to get in touch with us.

You can opt out online or over the phone. You can also opt out by post by calling us to request a paper form for you to fill out and give to your employer.

Opting out online only takes two minutes and it means we’ll immediately stop taking any further contributions from you. With the other ways there’s a chance your employer might take more contributions from your wages before the process is complete.

Need to take a break?

You don’t have to opt out to stop paying money into NEST. Instead, you can just take a break. Taking a break means you’ll keep your retirement pot and you can start paying in again at a later date. When you stop paying money into NEST, your employer may also stop contributing and they may not have to restart when you want to.

Find out about opting out

Opting out means you’ll close your retirement pot and won’t be a member of NEST any more. You can get more information on how to opt out and when this option is available to you in our member help centre.