NEST Scheme

[TheTrolleyMan]

Aw well I’d still rather be in charge of my payments to Nest and my retirement dates , wait until next year when rhe RM PENSION changes its Terms & conditions

[posted]

Have any of you folk received any documentation regarding your NEST account? Hopefully this will follow very shortly

[vmaxv4]

Managed to log online & create my account.
I haven’t received any paperwork as yet but with using my DOB,NI & Surname.
There is a PDF of your welcome letter & membership details created 21:59 last night.
Enrolment from RM 12th October . Active Membership details 3 days later.

[vmaxv4]

Employer Contributions section & a very useful calculator also.

[posted]

Managed to log online & create my account.
I haven’t received any paperwork as yet but with using my DOB,NI & Surname.
There is a PDF of your welcome letter & membership details created 21:59 last night.
Enrolment from RM 12th October . Active Membership details 3 days later.

Thanks, was that using this page?
https://www.nestpensions.org.uk/schemew ... ount.xhtml

[vmaxv4]

Managed to log online & create my account.
I haven’t received any paperwork as yet but with using my DOB,NI & Surname.
There is a PDF of your welcome letter & membership details created 21:59 last night.
Enrolment from RM 12th October . Active Membership details 3 days later.

Thanks, was that using this page?
https://www.nestpensions.org.uk/schemew ... ount.xhtml

Yes.Click on “I don’t have a Nest ID”. It then gives you the option to use your surname.

[TheTrolleyMan]

Has anyone seen any money in their Nest Pension yet ? I’ve paid in for 2 weeks on my payslip but nothing in my account yet !

[koolishy67]

Has anyone seen any money in their Nest Pension yet ? I’ve paid in for 2 weeks on my payslip but nothing in my account yet !

Nothing yet

[TheTrolleyMan]

Finally had some money paid into the Nest Pension Scheme

[TheTrolleyMan]

Has anyone seen any money in their Nest Pension yet ? I’ve paid in for 2 weeks on my payslip but nothing in my account yet !

Nothing yet

Good news Nest is finally up and running

[posted]

Has anyone seen any money in their Nest Pension yet ? I’ve paid in for 2 weeks on my payslip but nothing in my account yet !

Nothing yet

Good news Nest is finally up and running

Same, was able to access my account and switch funds from the default NEST Retirement Date Fund to the Shariah one before any contributions are made.

I am now completing the SW transfer out form. I'll be transferring the entire amount from SW to NEST

Just wondering if there is any benefit in keeping the SW account open with a nil balance. The only benefit i can see is being able to access old pension docs/illustrations.

Just hoping there is no minimum/fixed fee for keeping account open even with a nil balance.

Also, one of the warnings on the form is that

I am aware that
if I choose to transfer all or part of the value of the Retirement account, I will lose any right I have to take a protected tax free lump sum of more than 25% of my Retirement Account value unless this is part of a block transfer and i have been provided information that explains this.

What does this mean?
I take it's referring to the usual 25% tax free lump sum but that usually the max and not the 'more than' that is mentioned above.
In this case it's a block transfer right as it's going from one scheme to another DC Scheme that meets all the rules (as you would expect NEST to do)?

[RobertT]

Just wondering if there is any benefit in keeping the SW account open with a nil balance. The only benefit i can see is being able to access old pension docs/illustrations.

Can you save old documents, etc onto your computer for future reference before you transfer?

I saw online somewhere recently the Nest Sharia fund has ditched it's 100% equity holding in favour of a 70/30 split between equities and Sukuk.
A lot of Sharia investors don't seem too keen, how do you feel about it?

Also, one of the warnings on the form is that

I am aware that
if I choose to transfer all or part of the value of the Retirement account, I will lose any right I have to take a protected tax free lump sum of more than 25% of my Retirement Account value unless this is part of a block transfer and i have been provided information that explains this.

What does this mean?
I take it's referring to the usual 25% tax free lump sum but that usually the max and not the 'more than' that is mentioned above.
In this case it's a block transfer right as it's going from one scheme to another DC Scheme that meets all the rules (as you would expect NEST to do)?

Some pension schemes from before 2006 might have a protected access age or might allow a tax free lump sum of more than 25%.
A block transfer is enables two or more members to transfer those protected benefits to a different provider.
The RMDCP didn't start until February 2009 if I remember correctly, so it's not relevant.

[posted]

Just wondering if there is any benefit in keeping the SW account open with a nil balance. The only benefit i can see is being able to access old pension docs/illustrations.

Can you save old documents, etc onto your computer for future reference before you transfer?

I saw online somewhere recently the Nest Sharia fund has ditched it's 100% equity holding in favour of a 70/30 split between equities and Sukuk.
A lot of Sharia investors don't seem too keen, how do you feel about it?

Thanks, I suppose I could save the documents... in fact I'm turning into my father (who has folders full of old records) and have started to collate all the paper pension illustrations (RMDCP & deferred Section C) I've received in the post for last 7-8 years anyway but I just feel that if it's not going to cost me anything that's one additional repository saved.

With regards Sukuk, I can't find anything about NEST switching to that but I do know (especially in Middle East) there appears to be an increasing push towards it.
Don't know enough about it but as long as it's not Gov Debt (such as Bonds/Gilts) but rather an investment in some underlying asset/infrastructure then I'm cool with that.

[RobertT]

Sukuk is basically the Islamic answer to bonds/gilts, which gets around their religious inability to earn interest.

People already in Nest Sharia were apparently sent an email recently: https://www.reddit.com/r/UKPersonalFina ... aria_fund/

It's mentioned in the Nest blurb: https://www.nestpensions.org.uk/schemew ... -fund.html

What is Sukuk:
https://www.investopedia.com/terms/s/sukuk.asp
https://www.treasurers.org/hub/treasure ... -they-work

[Hyrrokkin]

Just wondering if there is any benefit in keeping the SW account open with a nil balance. The only benefit i can see is being able to access old pension docs/illustrations.

Can you save old documents, etc onto your computer for future reference before you transfer?

I saw online somewhere recently the Nest Sharia fund has ditched it's 100% equity holding in favour of a 70/30 split between equities and Sukuk.
A lot of Sharia investors don't seem too keen, how do you feel about it?

Thanks, I suppose I could save the documents... in fact I'm turning into my father (who has folders full of old records) and have started to collate all the paper pension illustrations (RMDCP & deferred Section C) I've received in the post for last 7-8 years anyway but I just feel that if it's not going to cost me anything that's one additional repository saved.

With regards Sukuk, I can't find anything about NEST switching to that but I do know (especially in Middle East) there appears to be an increasing push towards it.
Don't know enough about it but as long as it's not Gov Debt (such as Bonds/Gilts) but rather an investment in some underlying asset/infrastructure then I'm cool with that.

A good habit to have and something everyone should do - which i have been guilty of not doing in the past !