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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.

More Information

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.


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 (PLSA) 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 DC investment provider award at PIPA awards 2018, scheme of the year at the Institutional Investor Institute peer to peer awards 2017 and highly commended award for best Master trust at the Pensions Insight DC Awards 2017. Other awards we’ve recently obtained include the impact awards at the ISG Paragon Awards Europe 2017, the Innovation Award at the World Pensions Summit 2017, and Master Trust offering of the year at the Pensions Age awards 2017.

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 Pensions Insight DC Awards 2017: Highly commended award for the best default strategy, Investment and Pensions Europe (IPE) 2016: best European pension fund and Investment and Pensions Europe (IPE) awards 2016: best small pension 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.