What do I need to do if I'm making workers redundant?

How do I inform Nest if I am making workers redundant?

If you’re making workers redundant, you’ll need to mark them as ‘No further contributions payable’ through a contribution schedule, in the same way you’d mark a normal leaver. To let us know that a worker has left, please see How do I let you know a member has left employment? or if you have multiple workers leaving, please see How do I use a CSV file to let you know a member has left employment?

If you need to make contributions after a worker is marked redundant, you can pay them through an exception schedule. For more information please see How do I create an exception schedule?

When do I tell Nest the worker has left?

You’ll need to tell us through the contribution schedule that covers their last pay period. If you do not inform us that the worker has left, we’ll expect ongoing contributions for the worker. If these contributions are not paid by the payment due date, you’ll receive a late payment notifications and eventually if no action is taken we will be required to inform The Pensions Regulator that contributions have not been paid for this worker.

Do I need to inform The Pensions Regulator I am making redundancies?

No, you don’t need to inform The Pensions Regulator (TPR).

What happens to my worker’s pension pot after they leave?

The worker’s money will continue to be invested and they can make additional contributions towards their pension pot directly by logging in to their online account. They can take money out of their pension pot from the age of 55 or transfer it to a different pension provider at any time.

How will my workers know the value of their pension pot?

The workers can log in to their Nest online account and access their retirement pot. You can refer the workers to the article What’s my retirement pot worth? for more information.

My worker has more questions about their Nest pension, who can I direct them to?

The worker can refer to our Member help centre or contact us.

I have more questions about the Nest pension, who should I ask?

You can call or chat with our Employer support team, please see contact us.