Why would I need a refund?

When you’re setting up your scheme, we’ll ask you to tell us how you’d like to pay contributions and to give us details of the bank account you’d like to use to receive any refunds we owe you. We can only send refund payments to valid UK bank accounts.

We may sometimes need to return money to you. This can happen when:

• a member opts out after you’ve paid us contributions for them
• a member’s contribution has been corrected in a contribution schedule and is now less than you originally paid
• you’ve cancelled a member’s enrolment in NEST after you’ve paid us contributions for them
• you’ve paid contributions for a member who is then no longer eligible to contribute to the scheme because they’ve passed away, or have taken their money out of NEST.

When you set up your NEST account you’ll have been asked to include bank details that we use for refunds. You can check these details by clicking on ‘Manage payment sources’ on your NEST home page.

Refunds can take up to 10 working days to process from the date of the message we send you about your refund.