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Auto Enrolment

Work place pensions

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National Employment Savings Trust (NEST)

Government approved low cost pension scheme

NEST is run by the NEST Corporation on a not-for-profit basis. If you are between the ages of 16 and 75 you can start saving with NEST at anytime and your employer can opt to adopt it as their work place pension. They will automatically enrol you if,-

  • you are at least 22 years of age and under the state pension age
  • working or ordinarily working in the UK
  • earning over £9440 a year

Charges associated with your NEST account

The main advantage associated with NEST is cost. There are two separate charges,-

  • Annual management charge - which is set at 0.3% of your total fund and collected each year.
  • New contribution charge - every new contribution you make a 1.8% of the contribution will be deducted as charges.


The pension pot you biuld up in NEST can stay exactly where it is until your retirement even if your circumstanes change. Even if you change jobs you can still contribute to your NEST account and your new employer can also start contributing to it. Even if you stop working or your employer has other arrangements for auto enrolment you can still contribute.

You can also stop contributing at anytime and start again at anytime without penalty. This is something to consider before electing to opt out. If your employer automatically enrols you into NEST you have the option to opt out within the first month and have any contributions refunded.

NEST management

It is important to let NEST know when you plan to retire because how they manage your pension pot investments will depend on your anticipated retirement date. They will assume your retirement date to match the state pension retirement dates.

They will invest your pension fund into their NEST Retirement Date Funds, however, they do have a limited number of other investment funds available should you decide to manage your own fund investment allocation.

Retirement options

At your chosen retirement the NEST Corporation will advice on the options open to you with regard to your pension pot.

Call 0800 634 4846 to arrange your initial consultation