Over the last ten years, Nest has helped to revolutionise the pensions industry. You might have seen the tools, services, support, and even a new way of speaking to our customers that’s been delivered – all so your clients and their workers can get more from Nest.
As a public body, we’re accountable for delivering a high-value pension product at a fair cost. We answer to our members and the organisations that employ them, supporting over 1 million employers with top-quality services.
These are the four main ways we work to deliver value:
- providing an award-winning investment strategy
- putting our customers’ interests first
- encouraging members to engage with their pensions
- making it easy for employers to manage their accounts
An award-winning investment strategy
We think our investment strategy is one of the best around. It’s great when our peers think so too. Over the years, we’ve won awards from Corporate Adviser, Pensions Age, Pensions and Investment Provider Awards (PIPA), European Pensions Awards and many more.
Not only have we been recognised for our market-leading approach, multiple studies from independent experts Defaqto show that our investment strategy delivers among the best returns for members while taking less risk with their money, when compared to other pension providers.
Our customers come first
There are lots of ways we can demonstrate we’re run in our customers’ interests, such as competitive terms for members and no charges at all for employers. Take our master trust authorisation, or the fact we’re one of only a handful of providers to have been rated 5 stars by Defaqto for five years running.
However, one of the most important weapons in our arsenal is that we listen. From the Members’ Panel and Employers’ Panel that advise our Board to regular surveys to an online member community, we have many channels to get feedback.
Once we have it, we act on it. It’s all part of our ongoing ambition to keep improving the service our customers receive.
Encouraging members to engage with their pensions
The financial industry hasn’t always made it easy for ordinary people to engage with their products. We were the first pension provider to talk in everyday, plain language after our research showed that this was the best way to help members understand their pension and retirement options. This approach is now widely followed by our peers.
We’ve built on this by testing our product and messaging with our member community, by creating communications toolkits for employers to share with their workforce and by producing personalised video campaigns that see open rates of over 50%. This outperforms the 20% open rate that’s considered successful for the industry.
Making it easy for employers
As a digital-first scheme, we’ve designed our administration and processes to be simple and straightforward. We’ve also developed web services that offer seamless data transfer between payroll software and our system, making it easier for employers to use our pension scheme.
What’s more, we offer support across all major channels including phone, email and live chat.