Skip to Main Content
close Close

Policy and procedures

Nest Corporation sets out various policies and plans designed to keep key stakeholders, including members and employers using Nest, informed of current and planned activity.

Corporate governance focuses on the way an organisation is run. It provides the structure and control that an organisation uses to set out its goals and monitor its performance.

See our corporate governance statement (PDF)

Corporate responsibility is about ensuring that Nest acts in a way that has a positive impact on its customers, workers and the wider community. Nest Corporation is committed to mapping our impact and reporting on how we're carrying out our responsibilities.

See our corporate responsibility statement (PDF)

The Modern Slavery Act came into force in October 2015. The Act puts an obligation on commercial organisations with a turnover in excess of £36 million to publish an annual statement. That statement must outline the steps taken in the previous financial year to ensure slavery and human trafficking isn’t taking place within the organisation or its supply chain.

Nest Corporation doesn’t condone any form of modern slavery or human trafficking. Since 2016 Nest has issued an annual modern slavery and human trafficking statement, in the interest of public transparency.

Nest’s Women in Finance target was to have 30% women in senior management roles by Autumn 2019. Not only did we hit this in September 2019, there are currently 45% women in senior management within the company.

We’re pleased to have beaten our target, but recognise that men and women make up equal proportions of the UK’s working age population and our membership. Our new target is to have women make up 50% of senior management roles by 2025.

Our Chief Executive Officer, Helen Dean CBE is female but we recognise that there's still more work to be done at the executive committee (ExCo) level running Nest, along with a gender pay gap.

We'll continue to:

  • implement our Diversity & Inclusion (D&I) Strategy and deliver against our action plan
  • support our ExCo to be champions and ambassadors for D&I
  • include D&I measures in our key performance indicators (KPIs), including gender balance targets
  • provide regular reporting to our ExCo and Board on the diversity KPIs
  • look at recognised differences and the relationship between gender and other protected characteristics such as ethnicity, disability and sexual orientation
  • work with our partners, suppliers and sector to improve diversity and facilitate improvements in gender balance

Women in Finance Charter logo

In 2017 UK legislation required all organisations with more than 250 members of staff to publish their gender pay gap annually from 31 March 2018. While we’re not required to publish further details or action we might be taking, we still elect to do so. We also publish our ethnicity pay gap report as part of Nest’s ongoing commitment to transparency and openness.

2021 Gender pay gap summary

2021 Ethnicity pay gap summary

More detailed reports containing data for 2020-21 and 2021-22 will be published later this year.

2020 Gender pay gap report

2020 Ethnicity pay gap report

Our Corporate plan outlines the key priorities and objectives of Nest in the coming years. It’s reviewed regularly to keep track of what we need to do to achieve our vision of helping millions enjoy a better retirement.

Corporate plan 2021-2024 (PDF)

Corporate plan 2020-2023 (PDF)

Corporate plan 2019-2022 (PDF)

Corporate plan 2018-2021 (PDF)

Corporate plan 2016-2019 (PDF)

Corporate plan 2014-2017 (PDF)

Corporate plan 2013-2016 (PDF)

Corporate plan 2012-2015 (PDF)

Corporate plan 2011-2014 (PDF)

Corporate plan 2010-2013 (PDF)

Policies and frameworks

There are a number of other policies and frameworks that Nest has developed to help us deliver our investment strategy and guide our decision making.

icon

Nest Corporation Governing Body terms of reference

Download (PDF)

icon

Board Member code of
conduct

Download (PDF)

icon

Terms of reference for our Board Committees

Download (PDF)

icon

Employers’ Panel terms of reference

Download (PDF)

icon

Members’ Panel terms of reference

Download (PDF)

Related content

Woman and man doing yoga

Investment principles

The Statement of investment principles (SIP) sets out how Nest will invest members’ money.

Investment principles

Woman at desk looking at paperwork

Order and rules

Nest’s order is the legal document that establishes the scheme and appoints Nest Corporation as the Trustee. This can only be amended by Parliament.

Order and rules

Woman smiling at mobile

Freedom of Information Act

The Freedom of Information Act 2000 gives any person of any age or nationality, anywhere in the world, the right to access certain official information held by public authorities in the UK.

Freedom of Information Act

Man with coffee at laptop

Procurement

Nest Corporation works to comply with public sector procurement rules and principles.

Procurement

Waitress taking order

Gifts and hospitality

Nest publishes a register of any gifts and hospitality received or given by Board Members or our executive team each quarter.

Gifts and hospitality

Woman on sofa looking at tablet

Complaints

We’re committed to dealing with any concerns you may have about Nest in a timely manner.

Complaints

Woman looking at clothes

How Nest is run

As a public corporation we have no owners or shareholders. This means we’re free to run the scheme in the interests of our members.

How Nest is run

Man presenting in meeting

Employers’ and Members’ Panel

The panels provide a forum for employers and members to give their perspectives on Nest, key issues and activities.

Find out more about our panels

People listening in meeting

Executive team

Day-to-day management of Nest Corporation is delegated by the Board to the executive team.

Executive team

Meeting in sunlit room

The Trustee

Nest Corporation is the Trustee of Nest, comprised of up to 15 Board Members. They set the strategic direction and objectives of Nest.

The Trustee