Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

National Employment Savings Trust definition

What does National Employment Savings Trust mean? A government-established workplace pension used by employers to meet automatic enrolment (auto‑enrolment) duties for eligible workers. In legal practice, “NEST” denotes the statutory trust‑based defined contribution occupational pension scheme created by the Pensions Act 2008 and operated by NEST Corporation (a public corporation acting as trustee). Key legal features include: - Qualifying scheme status for automatic enrolment, with a public service obligation to accept any employer and eligible worker. - Standardised participation terms, default investment options and a low‑cost charging structure set under scheme rules. - Transfers in and out generally permitted, subject to legislation and scheme rules. - Engagement with The Pensions Regulator...

NEST versus occupational pension schemes: master trust status, public service obligation, membership and tax relief, charges and investment, transfers, death benefits, employer participation, panels, research duty and pension freedoms

Published by a LexisNexis Pensions expert

Practice notes

NEST Order and NEST rules

In this Practice Note, any mention of the national employment savings trust (NEST) Order refers to the National Employment Savings Trust Order 2010, SI 2010/917 (the NEST Order), as in force from 25 May 2018. References to the NEST Rules mean the Rules of the National Employment Savings Trust effective from 5 August 2024. NEST is a low-charge, defined contribution occupational pension arrangement created as part of the government’s workplace pension reforms. Those reforms introduced a suite of employer obligations (the ‘employer duties’), including a requirement to place eligible jobholders automatically into a pension scheme that satisfies prescribed standards (an ‘automatic enrolment scheme’). NEST was designed to guarantee that every employer could access a low-charge vehicle to help them discharge these new duties. NEST has continued to grow strongly, with membership rising from 12 million to 13 million between March 2023 and March 2024. For more detail on the automatic-enrolment duties, see Practice Note: Auto-enrolment—the requirements. Although NEST came into being through legislation—section 67 of the Pensions Act 2008 (PenA 2008) and Article 3 of the NEST Order—rather than through executing a trust deed, PenA 2008 provides for the...

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Julie Peaple

Nest Corporation

Julie is Director of Pensions and Public law, and Deputy General Counsel, at Nest Corporation, the trustee of the Nest pension scheme. She advises the Nest Board on decision-making and their responsibilities as a public body and as a trustee. Her remit covers both pensions law, including advising on the NEST Order and Rules and managing legal risks in proposition development, and public law, given the Corporation’s public body status. She has worked for Nest Corporation since its establishment in 2010 and, before that, for its predecessor, the Personal Accounts Delivery Authority. The unique interaction of two bodies of law - public law and pensions trust law – to which the Corporation is subject, and the continually evolving nature of the auto enrolment and master trust legislative framework it operates within, creates an interesting and challenging legal environment....

Michael Hames

Nest Corporation

Michael is a Senior Legal Counsel at NEST Corporation, advising both the trustee members and the executive team on all aspects of pensions law and other legal areas as and when required. More specifically, he is heavily involved with advising both the investment and finance team on legal issues. Michael has been involved from the ground up in advising on the legal issues surrounding the setting up and launch of the NEST scheme and continues to be at the forefront of all automatic enrolment issues, pension legislative changes and how this impacts on the NEST scheme and its members. Michael is a full member of the Association of Pension Lawyers. ...

Web page updated on 21/05/2026

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