The webinar covered a guide on our member dashboard, a live demonstration of moving members groups and other helpful tips to make navigating your dashboard easier and a overview of the new pensions dashboard and other regulatory.

The presentations and live demo are available below to watch again or share with colleagues:

 

Speakers :
Hosted by Femi Adigun, Senior Propositions Manager

Claudine Bell, Key Account Manager
Gary Ball, Senior Technical Account Manager
Paul Terry, Regulatory Risk Manager

The slides from the webinar are available here: March webinar slides

There were many great questions during the webinar, below are some that we didn’t get time for during the session :

Q: Is there a basic letter to staff to nudge them to look at their pension? 

Answer: Yes, we have an employee engagement toolkit to help you get your workers to engage with their pension, you will find it here Employee engagement toolkit | Nest Pensions 

Q: Why can you not switch from an expression of wish to a nominated beneficiary? 

Answer: The expression of wish is a more popular option and benefits paid in this way will normally not form part of the workers estate for inheritance tax purposes.  The inheritance tax benefit is set to change from April 2027. 

Q: Does every scheme qualify for salary sacrifice? 

Answer: Salary sacrifice is a benefit offered by the employer.  It is the employer’s choice to offer salary sacrifice; a member can only decide to join if the employer offers this.  Find out more here Salary sacrifice

Q: What can an employer do if they have been looked out of their account and are not able to submit a contribution schedule on time? 

Answer: Please arrange a consultation meeting and we can talk you through the process.  To book a meeting please send an email to events@nestcorporation.org.uk with a summary if your issues and some dates and times you are available.

Q: In relation to the member dashboard, do we as employers have to log into this? 

Answer: No, the member dashboard was demonstrated to show you what the member sees.  Employers cannot access this.

Q: Should higher rate tax payers be putting the Nest pension they pay tax onto their tax return as its basic rate only? 

Answer: Higher rate taxpayers should claim additional tax relief on their pension contributions, through their tax return or by contacting their tax office. 

Q: How can an employee draw some of their Nest pension? 

Answer : .Employee once they have reached the minimum pension age (currently 55 increasing to 57 in April 2028) should login to their online account to start the process to claim their pension.  If an employee draws their pension, they will become subject to the Money Purchase Annual Allowance, you can find out more here Money purchase annual allowance (MPAA) | MoneyHelper 

Q: Your current fund reports are not very helpful, please can you generate more user friendly reports? 

Answer: Our quarterly investment reports and a video update from our investment CEO can be found here Nest Pensions Fund Factsheets | Nest Pensions we do not intend to make changes at present but we would be interested to hear your ideas on how these could be improved, please send them to …. 

Q: We’ve previously tried to report an issue with our nest account when adding the contributions into a new schedule however when turning to the next page it mixes up all the employee’s schedules and figures already inputted. Have you ever had this before? We have ended up having to upload the template to get around this. 

Answer: We would like to see this, please book an online appointment where you can share your screen so we can see the issue.  You can book an online appointment by…. 

Q: If a member of staff currently has a salary sacrifice greater than £2000 will they have to reduce that when the cap comes into force? or can contributions set at a higher rate before 2029 stay above that? 

Answer: The detail of the changes due in April 2029 are still not known so we will be in a better place to answer this correctly closer to the date of change.  At the moment it is expected that the contributions will be split with part paid through salary sacrifice and part paid through relief at source. 

Q: I looked at the member dashboard and I just wanted to confirm, if you added a beneficiary of 1x person can you then change this to add an additional beneficiary or change to expression of wish? for example going from having one child to two and wanting to split the pension between the two. 

Answer: Yes, you can change your beneficiaries and add and remove beneficiaries at any time.  It is totally flexible. 

Q: I have not been able to login my employer account for nearly two months while I am travelling to Asia including China. Can you help? 

Answer: This is likely to be because of your location.  If you book an online appointment, it will help us understand the issue and work out the best way to help you.  You can book an appointment by sending an email to events@nestcorporation.org.uk with a summary if your issues and some dates and times you are available.

Q: Some employees lost their details and never register. How can they register? 

Answer:  If your workers cannot find their MEM number, they can still register for their online account by using their national insurance number.  They start the process in the same way as demonstrated in the webinar and just select the blue button I don’t know my Nest ID