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Nest Pension Opt Out

nestpension180
Posts: 2 Newbie
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
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
0
Comments
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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.0
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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.0
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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.html0
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