With auto-enrolment firmly established as a business-as-usual approach to workplace pensions, it is important to regularly evaluate the schemes that were recommended to clients. To help you do this, Nest has commissioned Defaqto to conduct an independent fact-based review of the Nest pension scheme.

The review has been done in the format of a Question and Answer report and is designed to help advisers better understand Nest’s proposition, while also considering the core elements required in a Value for Money assessment:

The questions posed by Defaqto were:

  • How is the Nest Master Trust positioned in the market?
  • What are the key governance and due diligence points?
  • How do the Nest funds, in particular their investment strategy and process, work?
  • How have the Nest Default Funds performed?
  • What are the costs and charges?
  • What support does Nest provide to an employer when joining?
  • What additional support does Nest provide to employers?
  • What support does Nest provide to members?
  • What support does Nest provide to members at and in retirement?
  • What is Nest Insight and what do they do?

To read how Nest responded to the questions, download the full report here.

Defaqto is a leading financial information, ratings and fintech business. Its unbiased star ratings help consumers, financial institutions and financial advisers make better informed decisions.

Nest is the UK’s largest auto-enrolment compliant workplace pension scheme, which is used by 10 million savers and at the end of December 2021 had over £23bn invested on behalf of members.

Nest is one of only four Master Trust based schemes to hold a Defaqto 5 Star Rating and has done so consistently for five years. To put this accolade into perspective, 87% of Master Trusts and 66% of all retail workplace pension schemes on the Defaqto database have a lower rating.