National Employment Savings Trust (NEST)
National Employment Savings Trust (NEST)
The National Employment Savings Trust (NEST) is Royal Mail’s auto-enrolment pension plan.
To help people save more for retirement, the Government requires employers to automatically enrol workers into a workplace pension plan if they meet certain ‘eligibility criteria’. Royal Mail has chosen the National Employment Savings Trust (NEST) to be the pension arrangement it uses to comply with its automatic enrolment responsibilities. Royal Mail has chosen to automatically enrol workers who meet the eligibility criteria after they have completed 3 months’ service.
The eligibility criteria are:
- Earn over £10,000 a year (before deductions) – that’s £833 a month or £192 a week (for the 2024/2025 tax year);
- Are at least age 22 and below your State pension age, and;
- Are working or usually work in Great Britain.
Employees reaching 3 months’ service (or those meeting the auto-enrolment eligibility criteria) will be members of NEST until their 12-month service anniversary where they will automatically become a member of the Collective Plan.
NEST is also available as an alternative pension arrangement to the Collective Plan.
In addition to regular contributions, members may choose to save more in NEST by paying additional voluntary contributions (AVCs).
You can find out more about NEST using the resources below:
- National Employment Savings Trust (NEST) website
- Frequently Asked Questions - see "Technical Questions - Nest"
Forms for actions
This form is for those who do not want to join the Collective Plan at their 12 months’ service (or aged 18). If you are currently in the Royal Mail Defined Contribution Plan (RMDCP) or Royal Mail’s auto-enrolment pension arrangement with National Employment Savings Trust (“NEST”), by completing this form you will automatically move to/remain in NEST. If you are not currently in a Royal Mail pension scheme, you will not be enrolled into any other scheme.
On this form, you also have the option to start or change your AVCs in NEST. If you already have AVCs in NEST, these will continue as they are unless you instruct otherwise. If you are currently paying AVCs into the RMDCP, these will not transfer over. You will need to set up new ones in NEST.
You can only opt out of NEST after you’ve been enrolled. You will need to do this directly through NEST. Your opt-out period is one month and it starts 3 working days from the date you’re enrolled. Once you opt out, you will automatically be refunded any contributions you have made. You can choose to stop contributing after the opt-out period but your contributions (and Royal Mail’s contributions) will remain in NEST and will not be refunded. Visit www.nestpensions.org.uk and search for how to opt out or click here.
This form is for those who wish to opt out of NEST and have been enrolled in NEST for over one month.
An Expression of Wish form should be completed to guide the Trustees when they are deciding who receives the benefits payable in the event of your death. From time to time, it will be necessary for you to update this form, for example, if you get married.
This form is for Storefeeder/Courier Services employees who wish to opt into NEST, change their contribution levels and/or wish to start/change or stop AVCs in NEST.
Click here to access this form.
This form is for for Storefeeder/Courier Services employees who wish to opt out of NEST and have been enrolled in NEST for over one month.
Enquiries
For enquiries about Nest please contact Pay Helpline on 0345 6060 603 or PayHelpline@royalmail.com.
For enquiries about the Collective Plan please contact the Collective Plan Helpline on 0345 6043741 or collectiveplanhelpline@royalmail.com.
Further Information
For information on the Collective Plan, previous Royal Mail pension schemes and Pension Salary Exchange, please visit: