Anyone cashed in a NEST pension?

Truro_Paul

... however the date of the latter in my inbox is different ti the letter they say they sent out.

WOAD

From personal experience NEST is dreadful so don't hold your breath.  For example for some reason I had two accounts same National Insurance number and name.  Been waiting for over 6 weeks now just to merge these two accounts despite providing all documentation at the beginning of April 2024.  You would have thought this would be a quick process but no they have developed the art of incompetence to a level that i have never seen before in business.  I seem to be on the magic roundabout of incompetence as i have been told so many times that its been approved and its a priority its now becoming beyond a joke.  Non responsive throughout and constantly having to chase them and I no longer believe what they say to me as they have lied continuously.  And to make matters worse i cant draw on this pension until they merged and only god knows when that will be possible.  Don't bother complaining as they just don't respond and totally ignoring you.  From my investigation the help desk, back office support and complaints is provided by a company called TATA Consultancy Service and its obvious they are covering up how bad the situation is.  

dunstonh

I no longer believe what they say to me as they have lied continuously. 

Don't mistake slow administration as being fraudulent.

And to make matters worse i cant draw on this pension until they merged and only god knows when that will be possible. 

Does either of these relate to employment that you have recently left?

One of the most common delays with auto-enrolment schemes is that the employer fails to tell the scheme that the person is no longer an active member.   You cannot transfer out fully if you are still active.  And often with AE schemes, the front line staff can't see that information.  

WOAD

I give you a few examples, advised it had been approved and should be processed within 5 working days.  After 5 working days expired and then find out that no action had been taken and it had been marked as complete.  This has been repeated several times.  Not exactly slow administration is it?  I am contractor so move between jobs so not relevant as i work via an umbrella company. 

dunstonh

WOAD said:

I give you a few examples, advised it had been approved and should be processed within 5 working days.  After 5 working days expired and then find out that no action had been taken and it had been marked as complete.  This has been repeated several times.  Not exactly slow administration is it?  I am contractor so move between jobs so not relevant as i work via an umbrella company. 

Does the umbrella company control the administration with NEST, or do you?

WOAD

Not sure of the point you are trying to make the administration is between umbrella and NEST but the pension account is in my name.  All the Umbrella company does is purely transactional process and does not administrate it on my behalf.

Truro_Paul

@WOAD Thanks for your feedback.

What I have been told on the phone doesn't correlate with the letter I received in my Inbox asking me to confirm my bank details and PensionWise advice so I feel it may have been a delaying tactic. Time will tell...

dunstonh

WOAD said:

Not sure of the point you are trying to make the administration is between umbrella and NEST but the pension account is in my name.  All the Umbrella company does is purely transactional process and does not administrate it on my behalf.

The umbrella company does carry out administration.  They input the monthly schedule into NEST (assuming monthly pay).   They inform NEST if you are no longer an active member under that particular payroll.

If you have left that particular payroll then NEST cannot transfer the pension unless they have been told you have left that payroll and the umbrella company is the one that does that.

WOAD

Truro_Paul said:

@WOAD Thanks for your feedback.

What I have been told on the phone doesn't correlate with the letter I received in my Inbox asking me to confirm my bank details and PensionWise advice so I feel it may have been a delaying tactic. Time will tell...

Not surprised nothing said to me makes sense and fingers crossed it gets sorted but don't hold your breath

WOAD

dunstonh said:

WOAD said:

Not sure of the point you are trying to make the administration is between umbrella and NEST but the pension account is in my name.  All the Umbrella company does is purely transactional process and does not administrate it on my behalf.

The umbrella company does carry out administration.  They input the monthly schedule into NEST (assuming monthly pay).   They inform NEST if you are no longer an active member under that particular payroll.

If you have left that particular payroll then NEST cannot transfer the pension unless they have been told you have left that payroll and the umbrella company is the one that does that.

Minor point I have to inform NEST to opted not my umbrella company