Upcoming changes to NEST service
10 March 2017
NEST is making some improvements to their service in March 2017.
Some of these changes are to improve the efficiency of how their processes work behind the scenes. Others are to make NEST easier for you to use.
Moving your money
From April 2017 you’ll be able to transfer money into NEST from a UK based-pension scheme that’s registered with HMRC. NEST will only be able to accept certain types of transfer payments.
From April 2017, you’ll also have the option to transfer your pot to another registered pension scheme even if you are under the age of 55. You can find out how to transfer money in or out of NEST in the member help centre.
Removal of Annual contribution limit
The annual contribution limit (ACL) is the maximum amount that can be contributed to any member’s NEST retirement pot in a tax year. This limit is being removed from 1 April 2017. Until then, the current annual contribution limit still stands at £4,900 for the 2016/17 tax year.
Improvements to the member help centre
NEST is listening to your feedback and they continue to make improvements to their help centre to make it more useful. For example, they have added new information under ‘changes in my circumstances’ and ‘logging into my account’ sections. Some new screenshots have also been added into the article to make it easier to follow.
For full details, go to Upcoming changes to NEST service.