nest refund, I've left my job.( sorted)

stu12345_2

I was with my employer full-time for 3.5 months, paid monthly.  and on the pay 31 may I saw an £85 pension deduction, I said what is this, they said I've been auto enrolled into nest. I said I don't want to join.

I left my employer on Wednesday and started new job but part time, yesterday.

just before I left my old employer they  said Google nest for answers. i contacted nest today who said I'm not on the system, I gave them my NI number, they said once on system via the welcome pack in the post ,I can opt for refund, it takes 10 days or something. they said the £85 will go back to source where it first came from.

I'm due one more pay from old employer, eg days worked after last cut off point up to and including last day earned, 3 days ago, I  also gave my old employer new bank details for final pay due, as I've shut my old bank account down, the one I got paid on 31 may. they said final pay will go into new bank account 

how and where and when will I get this money back

DullGreyGuy

It will come to you via payroll but it takes a bit of time... unfortunately even if you tell them before they enrol you in a pension that you dont want to be enrolled the law requires them to still enrol you, take the monies and then you claim it back after. 

I had the same but knew it was coming... was a hell of a lot more than £85 too 

stu12345_2

so my old employer still has to pay me back even after I have left the job., it will go into my new bank account I assume,  the one I gave to my employer to pay my final pay packet 
what about P45 , cos it won't show this refund if I don't get it refunded in time when my old employer creates my p45

Marcon

stu12345_2 said:

so my old employer still has to pay me back even after I have left the job., it will go into my new bank account I assume,  the one I gave to my employer to pay my final pay packet 
what about P45 , cos it won't show this refund if I don't get it refunded in time when my old employer creates my p45

Won't have any impact on your P45. Your NEST contribution was made from taxed income, so the figures on the P45 for gross earnings and tax paid will be correct.

penners324

Sounds like you haven't even been set up in Nest's system by your old company yet.

stu12345_2

when can I expect nest to register me on their system to get my money back, the clock is ticking and still nothing in the post

Marcon

stu12345_2 said:

when can I expect nest to register me on their system to get my money back, the clock is ticking and still nothing in the post

If your first contribution was made in May, then you'd expect any refund to be in July or more likely August, assuming you followed the correct opt-out procedure. Just saying you don't want to join isn't sufficient.

stu12345_2

I have had no communication from nest, I called them on Friday , and they said I'm not yet registered to start the opt out refund, keep watching the post , they said

 I only get 30 days, I got it deducted on may 28th

stu12345_2

phoned nest today, got my membership number, I went live account on 15 th June, employer can auto enrol you up to  6 weeks prior to this date.

I then went through the telephone option to opt out, I now await 10 days for money go back to employer, and then wait for them to pay it back to me 
it doesn't matter if I've left that employer, which I have as my old employer has to pay it into last known bank details I gave them.

I will not be auto enrolled into new employer immediately or indeed ever cos new job is under £10000 a year

Marcon

stu12345_2 said:

phoned nest today, got my membership number, I went live account on 15 th June, employer can auto enrol you up to  6 weeks prior to this date.

I then went through the telephone option to opt out, I now await 10 days for money go back to employer, and then wait for them to pay it back to me 
it doesn't matter if I've left that employer, which I have as my old employer has to pay it into last known bank details I gave them.

I will not be auto enrolled into new employer immediately or indeed ever cos new job is under £10000 a year

So you are happy with giving up 'free' money from the employer and living on a pittance in retirement?

stu12345_2

marcon, wrong I've done the sums , I rent council and when I get my OAP pension in a few years, I will get housing benefit, council tax benefit, and pension credit.

if I accrue a private pension , all the benefits will drop
I fully intend that not to happen, it's a secret tax by the government 

I also have debts to clear over next few years, it may take much longer than a few years. everything is not black and white, in they you are losing out.
 a newspaper did the calculations a couple of years ago and proved if you don't own your own home and rent social in retirement , you be as well maximising all benefits pensioners can get.

and you have then also fully enjoyed every £ you have earned in your working life by avoiding a variable pension that could easily be worth much less than you've ever paid, pensions dropped 50% in the crash if 20008 and the internet bubble of 2000,