How can I transfer money out of Nest?

• Log in to your account and select ‘Take your money out’ on your dashboard and follow the online journey.

• Your pack should arrive in your Nest Messages within 24 hours.
• If we’ve got your email address, we’ll message to let you know when it’s there.
• If you’ve told us you prefer paper communication, we’ll post the pack to you. It should reach you within 5 working days.

• Once you receive the pack, read the instructions carefully before entering your details on the form.
• You can send us the form through your online account or by post. It’s faster to send them through your Nest online account.
• We may ask you to send us some proof of identification through your Nest account or by post.
• If you want to transfer to a UK workplace or personal pension scheme that’s not a public service pension scheme, an authorised master trust or an authorised collective money purchase scheme we’ll let you know if you need to send additional documents.

• Log in to your Nest online account and select ‘Messages’.
• Select ‘Mailbox’ and then ‘Message us’.
• Enter the subject, message type and the text of your message in the 'Your message' field.
• Select ‘Add an attachment’ to upload your document. You can send up to 3 attachments in one message. Make sure each attachment file size is 4 MB or less. 
• If you have more attachments, send us multiple messages from your Nest mailbox.
• Don’t compress, zip or password protect the files as we can’t accept these file types.
• We can only accept jpeg, .gif, .tiff, .doc, .docx, .xls, .xlsx and .pdf file types.
• Once complete, select ‘Send’.

You can transfer to another pension scheme at any time after you’ve stopped contributing into your Nest pension pot. For information on stopping contributions see our help centre article How do I stop contributions?

• It usually takes 5 to 10 working days for us to process your completed transfer request for you. 
• It’s usually faster when your new provider also uses the Origo Transfer Service to automate the processing of transfer requests. 
• It may take longer if we need you to send proof of identification or other additional documents before we can make payment to your new provider. We ask for extra documents to help protect your pension savings from fraudsters.
• Once we’ve received everything we need to approve release of your money, we’ll calculate the exact value of your pension pot based on how it’s invested. We’ll transfer that amount to your new provider.
• If we have your mobile phone number, we’ll text you when we’ve sent your money. It may take a few days for the payment to be added to your pension pot at your new provider and you may check with them for details.

We don’t charge you anything to transfer your money out. 

The provider you’re transferring to may deduct a charge when they receive the transfer payment from us. If it’s an overseas pension scheme, you may have to pay an overseas transfer charge. This will depend on where the pension scheme is based and what type of scheme it is.

A charge could also apply if you exceed the overseas transfer allowance, for most people this would be £1,073,100. The amount will be reduced by any other overseas transfers you have taken in the past or take in future.