Transferring into Nest

Why choose Nest?

Here’s just a few reasons why thousands transfer their other pots into Nest every month:

• An award-winning investment approach – we’re recognised for taking less risk while delivering strong returns
• One total balance for all your pension savings – a faff-free way to check if you’re on track for retirement
• A pot for life - keep the same retirement pot and account details no matter how many times you change jobs
• Keep your money safe in our government-backed scheme, rated 5 Stars by Defaqto - the UK’s most trusted source for financial product information
• Zero cost to transfer – we won’t charge you a penny to transfer in or out of Nest. Most providers won’t charge you for leaving, but it’s always worth double-checking
• Great value for money – you’ll get no nasty surprises from us. You pay one simple annual management charge of 0.3%

How do I transfer my pension into Nest?

Transferring your pension savings into Nest is usually quick and simple. Just give us the details of your other scheme and we’ll handle the rest.

The easiest way to get started is by logging in to your Nest account.

All you need to know is:

• Your other pension provider’s name and address
• Your policy number
• An estimate of how much is in your other pot

Can I transfer from another provider into my Nest pension?

Yes. You can transfer pensions from other providers into a Nest pension. However, there are some important points to note:

1. Nest can only accept transfers from other registered UK pension schemes
2. The provider you’re transferring from must also agree to the transfer
3. You should check if there are any penalties or charges from your current provider for transferring your pension
4. You should also consider any benefits you might be giving up by transferring your pension, such as guaranteed annuity rates or the right to take more than 25% of your pension pot tax-free
5. Nest doesn't offer financial advice, so you may want to get independent advice to help you make a decision

Can I transfer a frozen pension into Nest?

Yes. You can transfer frozen pensions or pensions from previous employment into Nest, as long as the pension pot in question follows the guidance set out above.

Should I transfer other pensions into Nest?

Nest offers great value for money, and an award-winning investment approach for its members. Transferring your other pots into Nest could well be the right decision for you.

However, everyone’s circumstances are different. So, before you transfer:

• Look at any costs and charges your other provider might charge
• Consider taking independent financial advice or contacting an independent organisation like MoneyHelper

For more information, read our guide on Things to consider when moving your money into Nest (PDF).

Transfer your savings out of Nest

If you decide to transfer your savings out of Nest, we’ll make the process as simple as possible and we won’t charge you a penny. Learn more about transferring your savings out of Nest.