Nest Pension Opt Out

nestpension180

Hi there,
Is there any reason you can't use a work place pension for the employer contributions through NEST then intermittently (every 6 months or so) close the scheme and transfer to a SIPP before restarting a NEST pension?
Thanks

Dox

If you opt out of your employer's pension scheme, the opt out usually lasts for around 3 years and the employer is usually under no obligation to (re)enrol you until then (ie you'll miss out on money from your employer). Check with your employer what would happen.

nestpension180

Dox wrote: »

If you opt out of your employer's pension scheme, the opt out usually lasts for around 3 years and the employer is usually under no obligation to (re)enrol you until then (ie you'll miss out on money from your employer). Check with your employer what would happen.

Hi thank you for your reply. Is this 3 years a general period or does it depend on the pension scheme? I don't suppose you have a link to relevent NEST documents? Thanks again.

Dox

It's a general period of 3 years. You need to check with your employer (not the pension scheme) to see if they would be willing to let you opt out/transfer out of NEST/opt back in again immediately. They don't have to, but if asked nicely you never know your luck!

Links: https://www.pensionsadvisoryservice.org.uk/about-pensions/pensions-basics/automatic-enrolment/opting-out
and
https://www.nestpensions.org.uk/schemeweb/NestWeb/public/memberhelpcentre/contents/how-can-i-transfer-money-in-or-out-of-nest.html