Pension / NEST Information Notice Workplace Pension Information
Dear Employee,
Soon we will be automatically enrolling you into NEST.
Workplace pension law requires us to enrol eligible employees into a workplace pension scheme that meets legal standards.
We have chosen NEST as our workplace pension provider to meet our employer duties and to help you save for your retirement. NEST provides one retirement pot for life.
You will be automatically enrolled into NEST. If you wish to remain in the scheme, you do not need to do anything.
If you would like to know more about NEST, please visit:
www.nestpensions.org.uk
Once enrolled, you will receive your welcome pack and be able to activate your online account.
Contributions to Your NEST Retirement Pot
We will make employer contributions to your retirement pot and you will pay employee contributions.
If eligible, you may also receive tax relief from the government through the relief at source method.
This means that your pension contributions are made from your pay after tax, and NEST claims the tax relief from HMRC and adds it to your pension pot.
If you pay tax at a higher rate, you may be able to claim additional tax relief through Self-Assessment.
Contributions are based on your qualifying earnings, which may include:
basic salary
overtime
bonuses
sick pay
taxable earnings
Contribution Rates
Employer contribution
3%
Employee contribution
5%
Tax relief
20%
Opting Out
If you decide that you do not wish to remain in the pension scheme, you have the right to opt out.
The opt-out period is normally one month from the date your enrolment begins.
You cannot opt out until you have been enrolled and received your NEST ID / welcome pack.
Once you receive your NEST ID, you may opt out by:
If a valid opt-out request is received, any contributions already deducted will be refunded through payroll.
Re-Enrolment
If you opt out, you may be automatically re-enrolled at a later date, usually every three years, in line with legal requirements.
You may also request to opt back in at a later date.
Further Information
NEST
Nene Hall
Lynch Wood Business Park
Peterborough
PE2 6FY
Website: www.nestpensions.org.uk
Member enquiries: 0300 020 0090
For general pension information:
www.gov.uk/workplace-pensions
Yours sincerely,
JKL Care Services