MenuClose Menu
NEST logo
Access your mails here
Image my account

How can I take my money out of Nest at retirement?

Key points:

  • This article provides a list of retirement options. 
  • It covers points to consider before you choose any retirement option.
  • It tells you how to choose an option (screen by screen guide).
  • Please make sure your personal details are kept up to date. If you include your mobile number, we'll text you with an update on your retirement request.

What are my options?

Visit Retirement for information on your options available.

You have the following options: 

  • Use one of our self-managed options to take some or all of your pot as cash.
  • Use the Nest Guided Retirement Fund.
  • Choose options from other providers either by buying an annuity or transferring.

You can transfer your money out of Nest at any age to another UK registered pension scheme or a qualifying recognised overseas pension scheme also known as QROPS. For more information please see How can I transfer money out of Nest?

What do I need to think about before taking my money out of Nest?

There are a number of things to consider before you make a decision such as what other pension savings you may have. 

  1. They can explain all your options, the decisions you’ll need to make and the tax or fees that will be applicable.
  2. You can book one free phone appointment or a face-to-face meeting with Pension Wise by calling on 0800 138 3944 between 8am-10pm, seven days a week.
  • When you take withdrawals from your pot, 25 per cent will usually be tax-free and the remaining 75 per cent will be taxed at your marginal tax rate. For more information please see Your pensions and tax.

You may also decide to use a financial adviser. Details of independent financial advisers can be found at Nest won’t be responsible for any fees you may be charged for this advice. 

How do I start taking money out of Nest?

  • The quickest and easiest way to start making withdrawals is by logging in to your online account.
  • Alternatively, you could call us on 0300 020 0090 to get started. 

Screen by screen guide to selecting an option

Log in to your online account and click 'Retirement options’ in Quick links at the bottom of your dashboard.

  • You’ll be able to see some of the details we hold for you on your account such as your name, address and NI number. 
  • Please check if these details are correct on your account before continuing with taking your money out. 
  • To begin, you’ll need to confirm Yes or No to the statement underneath your details. 
  • We’ll need to know if the total value of all your pension pots including Nest, exceed the standard lifetime allowance. 
  • For the 2021/22 tax year, this is £1.0731 million. 
  • If you confirm Yes please follow the instructions and contact us by phone else, confirm No and continue to view your retirement options.

  • Click ‘Your options for taking money out’ to select one of the options to take your money out of Nest.

  • You will find the options available to you on the next screen.

Once you’ve decided which option is right for you, here are some links to useful information on how to complete your choice.

How can I take some of my retirement pot as cash?
How do I take money out of the Nest Guided Retirement Fund?

We value your feedback

Your feedback is important to us. To help us improve, tell us what you think about our member help centre by taking a short survey.

Take the survey

Was this helpful to you?

Tell us how can we improve this article?

Cancel Submit

Thank you.


Was this helpful to you?

Tell us how can we improve this article?

Cancel Submit

Live Chat

Our live help agents will answer your questions and guide you through setting up and managing NEST.

Our chat is available from Monday to Sunday from 8.00AM to 8.00PM