National Employment Savings Trust

The National Employment Savings Trust (NEST) is a defined contribution workplace pension scheme in the United Kingdom.

Due to its public service obligation, any UK employer can use Nest to meet its new workplace duties as set out in the Pensions Act 2008.

These reforms affect the majority of UK employers and are intended to help up to 11 million more people save for retirement.

In April 2014 Nest Corporation announced that it had over 1 million members saving in the scheme.

[needs update] As of June 2021, there is a minimum contribution limit of 8% of "qualifying earnings", paid collectively by the employee and the employer.

The NEST Retirement Date Funds are managed according to the life stage of members in them.

[15] Proposed by the Labour Government in a May 2006 white paper; the infrastructure for Nest was established through the Pensions Act 2008.