The annoying theft by NEST in the name of pension!

Linton

uklaw1 said:

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!

Your NEST pension is invested in funds.  It also has the advantage of a significant employer contribution and tax benefits which one may consider foolish to throw away.

uklaw1

dunstonh said:

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.

Respectfully, I am just discussing the weird law. I am not even a citizen, holding my money for 60 years doesn't make sense. This should be applicable to all citizens or people who need this. 

uklaw1

Linton said:

uklaw1 said:

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!

Your NEST pension is invested in funds.  It also has the advantage of a significant employer contribution and tax benefits which one may consider foolish to throw away.

The problem is that I will be leaving the UK soon as I came here to study and explore. I am not spending the rest of my life here. If this law was just for the citizens, that would have made sense!

Marcon

uklaw1 said:

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!

From your posts I fear you don't understand at all. You need to opt out within one month to get a refund of your personal contributions (you don't get anything in respect of the employer's contribution). If you don't comply with that timeframe, then either the funds stay put until you reach the minimum age at which you can access them, or you can transfer to a suitable overseas pension arrangement.

uklaw1 said:

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!

I'd call it a failure of (your) understanding. Read the posts above, calm down and recognise there's a time lag before you get the refund.

vacheron

uklaw1 said:

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!

I guess you must have a UK National Insurance Number for them to have set up the pension? I think the issue is that they can't presume how long you intend to stay, so it is better to auto enroll you and have you opt out than to not enroll people based on a presumption and then have them get all annoyed that they haven't been earning employer contributions like their colleagues.

I guess they will end up upsetting someone whichever option they choose! 

eskbanker

uklaw1 said:

The problem is that I will be leaving the UK soon as I came here to study and explore.

That wouldn't have been an issue, but once you started paid employment then you're governed by the relevant raft of legislation, much of which is in your favour....

Marcon

vacheron said:

uklaw1 said:

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!

I guess you must have a UK National Insurance Number for them to have set up the pension? I think the issue is that they can't presume how long you intend to stay, so it is better to auto enroll you and have you opt out than to not enroll people based on a presumption and then have them get all annoyed that they haven't been earning employer contributions like their colleagues.

I guess they will end up upsetting someone whichever option they choose! 

It isn't an option - the employer doesn't get any say in the matter if someone meets the requirement for them to be auto-enrolled.

Yorkie1

As you say you opted out within a month, you should be fine.