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Can I transfer money out of Nest?

You can transfer your pension out of Nest – but before you do, it’s worth checking what your new provider offers and whether staying put might be better for you.

What should I check before I transfer out?

1

Are you getting value for money?

With Nest, you only pay one annual management fee of 0.3%. Make sure your new provider stacks up long term – not just with a great introductory offer.

2

Are you transferring to a top-rated pension scheme?

We’re an award-winning investment scheme with a 5-star Defaqto rating. Does your new provider offer the same quality?

3

Are your savings going into a pot for life?

No matter how many times you change jobs, your Nest account details will stay the same, so you’ll always be paying into the same pot. Will another pension be as easy to manage?

4

Does it sound too good to be true?

Before you decide to transfer, double-check for hidden fees or conditions in the small print.

5

Is moving your money the best option for you? 

If you’re still unsure whether to transfer out, it’s a good idea to get financial advice before making a decision –  or contact an independent organisation such as MoneyHelper

What do I need to know about transferring out?

  • If you’re still making contributions to your pension pot, you can’t transfer out of Nest. If you’re thinking about stopping contributions so you can transfer out, bear in mind that you might miss out on tax relief and contributions from your employer.
  • We won’t charge you for transferring out of Nest, but your other provider might. Plus, if you transfer your money to an overseas pension scheme, you might also have to pay additional tax charges and an overseas transfer charge.
  • To meet regulations, we may need some extra information before you transfer out. In some cases, you might have to attend a scams awareness appointment with MoneyHelper.
  • If you’re transferring your pension because you want to access your savings – and you’re aged 55 or over – there are several ways you can withdraw your pot. Explore our range of retirement options to find what's right for you. 
  • By law, we can only transfer your pot to a registered pension scheme or a qualifying recognised overseas pension scheme (QROPS). Your new provider should be able to confirm this for you. You’ll also need to check if they’ll accept a transfer from Nest – and if there are any fees involved.
How to transfer my Nest pension pot to another provider

How do I transfer my money out of Nest?

Just follow our step-by-step video.


You can also find a more detailed guide in our help centre.

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