NEST Pension Scheme
From 01/08/2015 we’re required by law to provide a qualifying workplace pension scheme for you. A qualifying workplace pension scheme is one that meets new legal standards as part of the pension law reforms.
Will I be automatically enrolled?
Not everyone gets automatically enrolled. It depends on your age, how much you earn and whether you normally work in the UK. You can also choose to opt in or to opt out.
The chart below will help you check the category in which you fit.
If you’re not automatically enrolled you may still be able to ask us to enrol you in a workplace pension scheme.
If you would like to opt in, please contact Mark Fountain.
If you’re automatically enrolled but you don’t want to be a member you can opt out of NEST during your opt-out period. This is usually around one month from the date we enrol you. You will be informed exactly when the opt-out period starts and ends in the letter NEST send you after you’re enrolled.
More information about opting out is available here: https://www.nestpensions.org.uk/schemeweb/NestWeb/public/members/contents/opting-out.html
Because auto enrolment’s being introduced gradually, minimum contributions in the UK are starting low and will rise gradually.
How minimum contributions are worked out
The minimum contribution is made up of money from a worker's pay, money from their employer and tax relief from the government.
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