The annoying theft by NEST in the name of pension!

uklaw1

I am working at a private firm and the NEST started taking pension amount from my salary! My employer didn't fill me in properly about the opt out scheme. Then I opted out and NEST took another £80 again. I haven't received any letter yet. No human beings there to talk! Moreover I wont get a refund! I am an immigrant in the UK to explore this country. I started as a student and I will leave soon! But no exception for people like me! £160 is like my one month EMI towards my education loan! This is daylight robbery and I can't believe that a responsible country like the UK have such an illogical law to "protect" the workers!

Isthisforreal99

NEST did not 'take' anything - your employer sent them it after deducting it from your wages. Either the opt out was received too late by payroll or your payroll is incompetent.

Talking about theft by NEST is just silly.

MallyGirl

It may take a month or so for your opt out to be actioned. Nest have no access to your salary, it is your company payroll department who has passed the pension contribution to Nest.

MyRealNameToo

uklaw1 said:

I am working at a private firm and the NEST started taking pension amount from my salary! My employer didn't fill me in properly about the opt out scheme. Then I opted out and NEST took another £80 again. I haven't received any letter yet. No human beings there to talk! Moreover I wont get a refund! I am an immigrant in the UK to explore this country. I started as a student and I will leave soon! But no exception for people like me! £160 is like my one month EMI towards my education loan! This is daylight robbery and I can't believe that a responsible country like the UK have such an illogical law to "protect" the workers!

It makes no difference, the law requires you to be opted in even if from the outset you tell them you want to be opted out. Only after you have been enrolled can you opt out by which time at least one payment will have been taken. If you do opt out within X months (think 6) then the contributions are returned to you. 

The realities of an aging population is that the state won't be able to afford to give everyone a pension that the average person can live on. So rather than raise taxes they have instead made it mandatory for private companies to contribute to pensions. 

Whilst having to be enrolled to then opt out is annoying people elsewhere have decided this is more likely to get people to enrol. Prior to this law change I worked for a large bank who'd decided that rather than contribute to your pension based on your own contribution they would increase everyones "award account" by circa 15% and it was your free choice if you used it to pay for a pension, buy extra days holiday or take it as income... Id argue the accompanying letter positively encouraged you to take it as cash. 

It may be irritating but at least it was £80, when I learned you had to be enrolled before you could opt out it took £1,500 from my pay as via an umbrella both employee and employers elements come out of what I'm paid. 

Ayr_Rage

As above, blame your employer and their payroll department.

There is no theft.

dunstonh

I am working at a private firm and the NEST started taking pension amount from my salary!

Nest do not control your employers payroll.   Your employer or the company they use for payroll does that (although the company is still responsible)

 My employer didn't fill me in properly about the opt out scheme. Then I opted out and NEST took another £80 again. I haven't received any letter yet. 

Payroll is often prepared 3 weeks in advance of the next pay period.   So, there is often a lag between request and action.

This is daylight robbery and I can't believe that a responsible country like the UK have such an illogical law to "protect" the workers!

Calm down and start behaving rationally.  
There is no theft and you are blaming the pension provider when you should be directing your enquiries to your employer.

hugheskevi

MyRealNameToo said:

It makes no difference, the law requires you to be opted in even if from the outset you tell them you want to be opted out. Only after you have been enrolled can you opt out by which time at least one payment will have been taken. If you do opt out within X months (think 6) then the contributions are returned to you. 

From the Pension Regulator:

The opt-out period

Once staff have been enrolled into the pension scheme, they have one calendar month during which they can opt out and get a full refund of any contributions. This is known as the opt-out period. It starts from whichever date is the later of:

• the date active membership was achieved
• the date they received a letter from their employer with the enrolment information

Staff can’t opt out before the opt-out period starts or after it ends. If they decide to leave the scheme outside this period, they will instead be ceasing active membership. Whether they get a refund of contributions will depend on the pension scheme rules.

Bostonerimus1

The 0.3% NEST charges on each contribution is the thing to complain about, that is "daylight robbery".

Dazed_and_C0nfused

Bostonerimus1 said:

The 0.3% NEST charges on each contribution is the thing to complain about, that is "daylight robbery".

Do you mean the 0.3% that is really 1.8% 🤔

uklaw1

MyRealNameToo said:

uklaw1 said:

I am working at a private firm and the NEST started taking pension amount from my salary! My employer didn't fill me in properly about the opt out scheme. Then I opted out and NEST took another £80 again. I haven't received any letter yet. No human beings there to talk! Moreover I wont get a refund! I am an immigrant in the UK to explore this country. I started as a student and I will leave soon! But no exception for people like me! £160 is like my one month EMI towards my education loan! This is daylight robbery and I can't believe that a responsible country like the UK have such an illogical law to "protect" the workers!

It makes no difference, the law requires you to be opted in even if from the outset you tell them you want to be opted out. Only after you have been enrolled can you opt out by which time at least one payment will have been taken. If you do opt out within X months (think 6) then the contributions are returned to you. 

The realities of an aging population is that the state won't be able to afford to give everyone a pension that the average person can live on. So rather than raise taxes they have instead made it mandatory for private companies to contribute to pensions. 

Whilst having to be enrolled to then opt out is annoying people elsewhere have decided this is more likely to get people to enrol. Prior to this law change I worked for a large bank who'd decided that rather than contribute to your pension based on your own contribution they would increase everyones "award account" by circa 15% and it was your free choice if you used it to pay for a pension, buy extra days holiday or take it as income... Id argue the accompanying letter positively encouraged you to take it as cash. 

It may be irritating but at least it was £80, when I learned you had to be enrolled before you could opt out it took £1,500 from my pay as via an umbrella both employee and employers elements come out of what I'm paid. 

I fully understand. Is it true that I will get a refund if I opted out within 6 months? I opted out within 1 month. This law must have been mandatory for citizens right? Why would an immigrant leave a lot of money in a foreign country which would be available after 50 years? Who knows that I will be alive? I would rather invest that money in stock or other funds!

uklaw1

Bostonerimus1 said:

The 0.3% NEST charges on each contribution is the thing to complain about, that is "daylight robbery".

Yea, that money is like 22k back in my country which is equal to 2 months rent in a tier A city! Taking my money without my permission is okay, but not returning it? I'd call that robbery!