Nest launches pioneering member assembly – putting members at the heart of UK Pensions

Nest, the UK’s largest workplace pension scheme by number of members, can today announce its first-ever Member Assembly which puts members at the heart of shaping Nest’s investment approach.

The Member Assembly brings together a diverse group of Nest savers, selected to reflect the scheme’s membership, to discuss and make recommendations on key issues affecting their pensions. This innovative initiative demonstrates Nest’s commitment to transparency, accountability, and member engagement.

Ian Cornelius, Chief Executive of Nest, said:

“We’re excited to give our members a direct voice in decisions that affect their financial future. The Member Assembly is a bold step towards making pensions more democratic, inclusive, and responsive to the needs of our members.”

The Assembly is designed in partnership with leading academic expert, Dr. Emmeline Cooper, ensuring a robust process, with oversight from an external advisory group of leading academics and practitioners and informed by the latest thinking in financial governance. Over two weekend sessions, Assembly members will hear from independent experts, deliberate on complex topics, and develop recommendations for Nest’s leadership.

Charles Pears, Chair of the Nest Members’ Panel, and participant on the external advisory group, said:

“The Member Assembly shows how seriously Nest takes the views of its savers.  We are grateful for members taking time out of their busy lives to come together and share directly what really matters to them. Their willingness to explore complex issues in an informed and thoughtful way gives Nest valuable insight. Nest is strengthening the link between its investment decisions and the priorities of the people whose futures depend on Nest.”

The Member Assembly’s remit, ‘How Nest invests in the best interests of its members.’ will focus on three questions:

• What member values and considerations should guide how Nest Invests? 
• What are members’ views on how Nest exercises ownership rights on behalf of members? 
• What type of involvement, and information should members have in deliberating on how Nest invests? 

Nest’s Member Panel, chaired by Charles Pears, plays a vital role in representing the voices of Nest’s members. The Panel has been closely engaged with setting up the Member Assembly, and the Assembly’s recommendations will support the Panel’s ongoing work in championing member perspectives.

Recommendations from the Assembly will feed into Nest’s ongoing decision making for how it invests and acts as an active and responsible asset owner.