Appendix 1 – NEST
What NEST offers employers
- There are currently no charges for employers to set up and use NEST
- NEST communicates clearly and transparently with its members and supports them as they save. They can get the key information they need from the website or our UK-based contact centre.
- NEST’s investment approach is aligned with recent guidance on automatic enrolment default funds from the Department for Work and Pensions (DWP) and The Pensions Regulator (TPR). Clearly labelled fund choices aim to address the needs of a diverse workforce – all at the same low charge
- NEST can work alongside existing schemes. An employer can use NEST as their only scheme, but it’s flexible enough to work alongside an existing scheme
- Employers have no ongoing administration or responsibility for the NEST retirement pots of workers who leave their employment. With NEST every member has one retirement pot that they keep and can continue to contribute to, whether they change employment, stop working or become self-employed