Order and rules

Nest’s order is the legal document that establishes the scheme and appoints Nest Corporation as the Trustee. This can only be amended by Parliament.

The Nest rules document sets out how the scheme is designed and operates. This can be amended by Nest Corporation.

Together the Nest order and rules make up the governing documentation of the scheme.

Nest’s order and rules took effect on 5 July 2010.

The Nest order was last amended on 25 May 2018. The Nest rules were last amended on 5 August 2024. The update made to the rules was as follows.

We amended Rule 11.2 to explicitly allow deductions from members' accounts in certain legally required circumstances, such as void transactions under insolvency law, employer insolvency situations, and compliance with court orders.

We amended Rule 18 (Death Benefits), and added a new definition to Rule 1, to remove the £5,000 limit and to make it “such amount as shall be determined by the Trustee from time to time”. Broadly, this limit is the amount that applies to the value of a deceased member's pension pot below which we’ll pay the death benefit in line with a priority list set out in a trustee determination when no nominated beneficiary or Expression of Wish (EoW) exists for the deceased member, rather than to the estate/ a personal representative.

Help with the small print

Our straightforward guide summarises the key points in Nest's order and rules. It can help you understand why Nest has certain features and obligations.