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Employee FAQ

Q. What is NEST?

A. NEST is the government setup pension scheme (National Employment Saving Trust) that is specifically created for auto enrolment.

Q. Why have I been put into a pension scheme?

A. Due to the Pensions Act of 2008, all employers are legally obligated to offer a workplace pension to all employees and enrolling them that meet the criteria.

Q. I do not want to be part of a pension scheme; how do I leave?

A. If you meet the criteria for auto enrolment, your employer will have to enrol you into a pension scheme. If you do not wish to remain in the pension scheme, you will receive a starter pack from the pension scheme provider that will inform you how to leave the scheme. If you leave the scheme within one month of being enrolled, you will receive a full refund of all contributions made into the scheme. If you chose to leave at a later date, you will be removed from the scheme however you will not receive a refund.

Q. How do I join the pension scheme?

A. If you do not meet the criteria to be automatically enrolled you can chose to join the pension scheme by contacting us by email stating, ‘I confirm I personally submitted this notice to join a workplace pension scheme.’

Q. Can I take the money out at any point in time?

A. This will depend on the pension scheme rules and will defined in the starter pack from the pension scheme. With NEST, the employee can start receiving their pension from the age of 55 currently.

Q. Can I move the money into another pension pot?

A. This will depend on the scheme rules. Most pension schemes allow money to be moved over to another pension scheme however they may charge an admin fee. This will include for employees working in the UK temporarily if they will to transfer their pension pot aboard.

Q. How much am I contributing?

A. By default you will be contributing the legal minimum as will your employer. Should you wish to contribute more, we would recommend speaking to your employer who will pass the details onto us.

Q. How is my money invested?

A. We would recommend getting in touch with the pension scheme provider for more details of their current investments.

Q. Can I use another pension scheme?

A. The pension scheme is chosen by the employer for all employees, if you wish to use another pension scheme the employer does not have to contribute towards that scheme.

Q. How are the contributions paid?

A. The contributions are collected each pay period from your gross pay by the employer, and the employer will pay their contributions and yours into the pension scheme on a monthly basis.