Nest has a few major problems.
Nest has a few major problems.
1) The contribution charge is unreasonably high, 1.8% of contributions is simply far too high.
2) The fund selection is poor, it's clear that NEST caters to average non-investing brit which is fine, but given how popular NEST is with employers around the UK they need to cater to all types of investors.
Why is there no option for 100% equities? Why is there no option for passive index investing?
3) Why does NEST not support partial transfers? At present there is no option to transfer out without losing money from employers contributions. So you are stuck with them until you change job.
Reply from Nest Pensions
Hi John,
Thank you for taking the time to leave your feedback. I'm sorry we have not earned a better review from you.
You can log in to your Nest account to see which fund you’re in and compare fund performance here: https://www.nestpensions.org.uk/schemeweb/nest/investing-your-pension/fund-choices/compare-fund-performance.html
We do believe that our contribution rates are low, and you can find more details on the website: https://www.nestpensions.org.uk/schemeweb/nest/my-nest-pension/contributions-and-fees.html
If you’re still needing assistance, please get in touch with our customer service team and they should be able to provide the support you would need. They're available on 0300 020 0090, Monday to Sunday, 8am to 8pm.
Thanks,
AJ, The Nest Team
