NEST Pensions Q&A

NEST_Pensions

hyubh wrote: »

Without wishing to make an opinion about the overall intent (maybe other schemes are overly lax), how is that different from any other occupational scheme...?

Hi, we accept other schemes have different processes for managing this. As mentioned in an earlier reply regarding transfers, we are looking into our processes and part of that is how we might make it easier for our members to evidence their identity.

mark1959

:huh:Well other financial institutions manage identity checks electronically [whatever that means]. And if somehow that doesn't work then go down the passport/ driving licence route. Why can't you and why couldn't you from the onset?

Zanderman

NEST_Pensions wrote: »

Hi there,
Firstly thanks for your posts. Your feedback on transfers, along with similar feedback from other customers, has been very valuable, and timely. It’s been an important topic of discussion within NEST too. NEST is a relative newcomer to handling transfers (less than a year) so we appreciate there is room for improvement. To this end, we’ve already kicked off a review of our processes, and customer feedback like yours, will be an important input to that.

Thanks for letting us know you are reviewing your transfer-in processes - which is, sort of, reassuring. But also, actually, worrying. How hard can it be to get this right - other pension providers have been doing it easily for yonks!

Some indication of timetable for your review would be helpful as it is obvious people have, and still are, having trouble with your transfer process.

I would refer you (again! 2nd time on this thread and once before on another - you do give the impression you don't like to respond!) to the three existing threads where this has been raised and never responded to by anyone at NEST. Do you have comments on those scenarios - have they been resolved - and if so how?

Here they are yet again:
https://forums.moneysavingexpert.com/discussion/5731390
https://forums.moneysavingexpert.com/discussion/5665098
https://forums.moneysavingexpert.com/discussion/5732027

NEST_Pensions

Hi,
We’re aware that this is a relatively new process for NEST compared to other pension providers who have been doing this for a lot longer. We’re always looking to improve our processes and feedback like yours plays an important part of helping us do that. We’re currently looking at some changes that can be implemented in the short term over the next month or so which are easier for us to deliver quickly. We’re also developing plans for changes that are more complex as part of our longer term delivery.

datlex

NEST_Pensions wrote: »

Are you referring to our pensions calculator? If yes, you are right to point out our existing calculator does not take into account the phased % statutory increases in contributions. The Money Advice Service provides this calculator, which does show the breakdown of the impact of the increasing minimum contributions

Ok so your response is to state what I already know rather than answering the question. Are you planning on updating the calculator on your website?

Former_MSE_Andrea

Hi everyone

NEST has asked us to update the first post just to say it aims to respond to questions within two business days.

Andrea

datlex

MSE_Andrea wrote: »

Hi everyone

NEST has asked us to update the first post just to say it aims to respond to questions within two business days.

Andrea

Interesting. I see a Nest business day is different from a normal business day.....

Zanderman

MSE_Andrea wrote: »

Hi everyone

NEST has asked us to update the first post just to say it aims to respond to questions within two business days.

Andrea

With effect from when?!! I note it's only an 'aim'.

Alexland

It's quirky that they turned up on the forums but it's not clear that they are going to action any of the improvement ideas.

For a relatively young business they don't seem very empowered or agile. It's like they have spent a lot of money setting up outdated processes. There doesn't seem to be any passion.

Malchester

I have dealings with some new businesses but am appalled by the quality of service, adaptability, speed of response of NEST. I for one will be keeping a wide berth if they cannot respond to issues faster than they do on here.

One query - does NEST having this forum on MSE mean MSErecommend / support NEST? If so I would be concerned about MSE.