PARLIAMENTARY WRITTEN QUESTION
National Employment Savings Trust Scheme (25 July 2019)

The Nest Corporation is the Trustee of the National Employment Savings Trust (Nest) pension scheme. It is a public corporation, established by the Government in 2010 to support the delivery of automatic enrolment. Nest has more than 8 million members and assets under management of over £6 billion.

The Nest Corporation operates independently of central Government and is responsible for the day to day operation of the scheme, including its approach to investments. The Pensions Act 2008 establishes that investment decisions in the Nest pension scheme are the responsibility of the Trustee, in accordance with existing trust and pension law. This ensures that investment decisions remain independent and are made free from political pressures. Nest Corporation has sole power to invest the assets of Nest.

Like every other Trustee, Nest Corporation has a duty to run the scheme in the best interest of its members. The Trustee of Nest produces a Statement of Investment Principles which sets out how the Trustee will invest Nest members’ money. The Statement of Investment Principles is prepared in accordance with all relevant legislation and best practice guidelines. It outlines the principles and policies governing investment decisions made by, or on behalf of, the Trustee for the management of Nest’s assets.