How will I know when to take my money out of Nest?

Key points:

• When you’re enrolled we set an intended retirement date to let you know when we expect you to take your money out of Nest.
• You can choose to take your money out of Nest from the age of 55.
• You can change your retirement date at any time and to any date as long as the retirement date you choose falls after your 55th birthday. Please see How can I change my Nest retirement date? for more information.

How will I know when to take my money out of Nest?

• We’ll send the first reminder six months before your intended retirement date by your preferred mode of communication.
• You should start thinking about how you’d like to take your money out. Please see How can I take my money out of Nest at retirement? for more information.
• If we don’t hear from you, we’ll send you another reminder three months before your Nest intended retirement date. 
• If you’ve opted for paper communication, or if your retirement date is age 75 or over, the communication will also include retirement claim forms for you to complete.
• If you’re not planning to retire at your intended retirement date setup by Nest, you can change the date to keep your money invested effectively. To know more about our investment strategy when you’re nearing retirement please see Nest Retirement Date Funds.

What do I need to know when I am nearing my retirement?

• If you’re nearing your retirement, please see Nearing retirement for more information.
• You can get free and impartial guidance from Pension Wise, a service from MoneyHelper, if you’re age 50 or over.
• They can explain all your options, the decisions you’ll need to make and any tax implications.
• You can book a phone appointment with Pension Wise by calling on 0800 138 3944 between 8am to 8pm, Monday to Friday.