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Can I transfer money out of Nest?

You can leave the flock at any time – but always double check if you’ve found the best pension provider for your needs before you move your money.

What should I check before I transfer out?

1

Are you getting value for money?

We charge one of the lowest annual management fees of 0.3% - and the less you pay in fees, the more of your money is invested for your future. Don’t pay more than you need to, especially if your new provider is only giving you an introductory offer. We also have a 1.8% charge on contributions made by you or your employer, which doesn’t apply to money transferred in.  

2

Are you transferring to a top-rated pension scheme?

Your money is invested by an award-winning team of experts, in a scheme that’s been given a Defaqto 5-Star rating for 9 years running. We’ll take care of growing your pension, so you can focus on everything else. Pensions are investments, and their value can go up and down.

3

Are your savings going into a pot for life?

No matter how many times you change jobs, you’ll always be paying into the same Nest pension pot if you end up working for another employer who uses Nest. Will another pension be as easy to manage?

4

Does it sound too good to be true?

Before you decide to transfer, check the small print for hidden fees or conditions.

5

Is moving your money the best option for you? 

Like all big financial decisions, you might want to ask an expert to make sure you’re doing the right thing. You can check with an independent financial adviser, or get free guidance from MoneyHelper

What do I need to know about transferring out?

  • If you’re still making contributions to your pension pot, you can’t transfer out of Nest. If you’re thinking about stopping contributions so you can transfer out, bear in mind that you might miss out on tax relief and contributions from your employer.
  • We won’t charge you for transferring out of Nest, but your other provider might. Plus, if you transfer your money to an overseas pension scheme, you might also have to pay additional tax charges and an overseas transfer charge.
  • To meet regulations, we may need some extra information before you transfer out. In some cases, you might have to attend a scams awareness appointment with MoneyHelper.
  • If you’re transferring your pension because you want to access your savings – and you’re aged 55 or over – there are several ways you can withdraw your pot. Explore our range of retirement options to find what's right for you. 
  • By law, we can only transfer your pot to a registered pension scheme or a qualifying recognised overseas pension scheme (QROPS). Your new provider should be able to confirm this for you. You’ll also need to check if they’ll accept a transfer from Nest – and if there are any fees involved.
How to transfer my Nest pension pot to another provider

How do I transfer my money out of Nest?

If your other pension scheme uses Origo, it’s quicker to ask them to start your transfer.  

If they don’t, you’ll need to log in and request a transfer pack. We’ll send this to your secure Nest mailbox.


You can also find a more detailed guide in our help centre.

Disclaimer: Pensions are investments - their value can go up and down. Past performance is not a reliable guide to future performance. Transfer times vary, and some providers may charge exit fees. Not all pension types can be transferred to Nest