Established by the UK government as part of its auto enrolment initiative, NEST is one of the world’s fastest growing pension schemes by member numbers.
NEST members are overwhelmingly those with lower and moderate incomes, and those working in sectors with employment patterns that have traditionally made them hard for the pensions industry to reach. Many had no prior experience of pensions or investment products before enrolment into NEST. In spite of this progress, however, there remain significant challenges in ensuring people are saving for a comfortable retirement.
With 7 million members and counting, NEST is building a rich store of data and insights on the needs and behaviours of this previously under researched population. That’s why we set up NEST Insight. Working in partnership with the industry, academics and policy makers around the globe, our mission is to understand and address the challenges facing NEST members and other defined contribution savers. We do this through:
- rigorous quantitative and qualitative collaborative research
- testing practical solutions
- a comprehensive programme of events and roundtable discussions
- a series of publications, briefing papers and online resources, complemented and promoted by our communications programme.
We work to ensure that these data and insights are shared widely and freely so that what we’ve learnt can help inform and support others who are similarly working to improve the outcomes of defined contribution savers, and help those who are yet to start saving, in the UK and around the globe. To do this, we depend on sponsorships, grants and in-kind support from organisations that share our values.
NEST Corporation is the Trustee of NEST. It was established by legislation as a Public Corporation to run the NEST pension scheme. NEST Corporation is accountable to Parliament through the Department for Work and Pensions but is generally independent of government in its day-to-day decisions.