Skip to Main Content

Nest cookies

We use essential cookies necessary for the operation of our website.

We'd also like to set some additional cookies to understand how you use our website, remember your preferences and improve your experience.

We also use cookies set by other sites to help us deliver content from their services.

You can read more about cookies before you decide.

Member
Employer
Adviser
Menu Menu
Access your mails here
Mailbox
close Close

Nest consults on changes to scheme rules

Published: 16 November 2023

Nest has today issued a consultation on proposals to changes to its scheme rules. These changes ensure Nest continues to respond to its members’ needs.

The consultation covers two technical items pertaining to Nest’s rules. These are:

  • changing Rule 18 (Death Benefits) to allow the Nest Trustee to determine the value above which Nest will pay a death benefit to the member’s estate, in the event that there is no nomination form or expression of wish etc., which will usually require a Grant of Representation to be obtained.
  • changing Rule 11.2 (Pension accounts, general account and excess contributions account) to expressly provide a corresponding power to make deductions from members’ accounts in circumstances where Nest is legally required to do so.

The consultation document can be found on Nest’s website.

The consultation runs from 16 November 2023 to 16 January 2024. Please ensure your response reaches Nest Corporation by the closing date. Responses can be sent by email or by post, details for which are given in the consultation document.