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How can I take my money out of Nest at retirement?

You have to be 55 or over to claim your retirement pot. From April 2028, the minimum age will be 57. Please make sure your personal details are kept up to date. If you include your mobile number, we'll text you with an update on your retirement request.

Visit Retirement for information on your options available.

You have the following options: 

  • Use one of our self-managed options to take some or all of your pot as cash.
  • Use the Nest Guided Retirement Fund.
  • Choose options from other providers either by buying an annuity or transferring.

You can transfer your money out of Nest at any age to another UK registered pension scheme or a Qualifying Recognised Overseas Pension Scheme also known as (QROPS). For more information please see How can I transfer money out of Nest?

There are a number of things to consider before you make a decision such as what other pension savings you may have. 

  • You might need some help to decide what's best for you. For more information, read Taking your money out of Nest (PDF) or visit our Retirement Hub.
  • If you are age 50 or over, we recommend that you take guidance from Pension Wise, a service from MoneyHelper. They can provide free and impartial guidance about taking your money out.
  • When you take withdrawals from your pot, 25% will usually be tax-free and the remaining 75% will be taxed as part of your income for the year when you get the money. You may also be impacted by the tax-free lump sum allowance of £268,275, this is the total amount you can withdraw tax-free across all your pension schemes. For more information please see Your pensions and tax.

You may also wish to use a financial adviser. Details of independent financial advisers can be found at Nest won’t be responsible for any fees you may be charged for this advice.

  • The quickest and easiest way to start making withdrawals is by logging into your online account.
  • Alternatively, you could call us on 0300 020 0090 to get started. 

Screen by screen guide to selecting an option

Log in to your online account and click ‘Retirement options’ in Quick links at the bottom of your dashboard.

  • You’ll be able to see some of the details we hold for you on your account such as your name, address and NI number. 
  • Please check if these details are correct on your account before continuing with taking your money out. 
  • To begin, you’ll need to confirm Yes or No to the statements underneath your details.
  • Your answers will help us to calculate any income tax that might be payable on your requested withdrawal.
  • If you’ve taken more than £268,275 as tax-free lump sums from all your pension schemes including this current withdrawal or if you’ve been granted protection of your tax-free allowance from HMRC, select Yes.  
  • If you confirm Yes please follow the instructions and contact us by phone.
  • If you confirm No you can continue to view your retirement options.

  • Click ‘Your options for taking money out’ to select one of the options to take your money out of Nest.

  • You will find the options available to you on the next screen. Click ‘View your self-managed options’ to explore your cash withdrawal options.

  • If you’ve taken guidance from Pension Wise for this request, select ‘Yes’ and click ‘Continue’.

  • If you haven’t taken guidance for this request, select ‘No’ and then let us know if you’ve taken any guidance from Pension Wise or a Financial Conduct Authority regulated adviser within the last 12 months.

  • If you’ve taken guidance in the last 12 months, select ‘Yes’ and click ‘Continue’.

  • If you’ve not taken any guidance in the last 12 months, select ‘No’ and confirm if you’d like to book an appointment with Pension Wise.

  • If you’d like to book an appointment with Pension Wise, select ‘Yes’. 
  • If you want us to book an appointment for you, please call on 0300 020 0394 between 8am to 8pm, Monday to Sunday.
  • You can also book an appointment directly on the Pension Wise website or by calling them on 0800 138 3944 between 8am to 8pm, Monday to Friday. 

  • If you do not wish to book an appointment, select ‘No, I would like to opt out’ and click ‘Continue’.

  • You’ll then get a pop-up on your screen to confirm that you wish to opt-out of receiving guidance from Pension Wise. To do this, you’ll need to tick the box and click ‘Continue’.

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