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Provider review

NEST

Last verified: Q1 2026 · Source: provider fee page
Fee model
0.3% AMC + 1.8% contribution charge on every contribution
AMC + contribution charge · No SIPP · Workplace available
Annual platform fee by pot size
£25,000 pot
£75/yr
0.30% effective
£50,000 pot
£150/yr
0.30% effective
£100,000 pot
£300/yr
0.30% effective
£250,000 pot
£750/yr
0.30% effective
£500,000 pot
£1,500/yr
0.30% effective
£1,000,000 pot
£3,000/yr
0.30% effective
Platform fee only. Fund charges (OCF) are additional: Included in the 0.3% AMC
Note: Fees shown reflect the 0.3% AMC only and do not include the 1.8% charge levied on each contribution. The contribution charge significantly increases the true cost during the accumulation phase. See our NEST fee calculator for the combined impact.

NEST is the UK government's default auto-enrolment scheme — the largest workplace pension by membership with over 12 million members. The 0.3% AMC is competitive, but the 1.8% contribution charge is unusual and adds up over decades. For every £100 you contribute, only £98.20 enters your pot. NEST was designed as a safety-net scheme for employers who can't or won't choose their own provider, and it serves that purpose well. For accumulating savers who leave an employer, transferring the NEST balance to a low-cost SIPP is usually worth the effort — the transfer is free and takes 4-6 weeks. If you're currently employed and your employer pays into NEST, stay enrolled (the employer contribution is free money).

Strengths
  • +Government-backed — cannot fail
  • +Competitive 0.3% AMC
  • +Free transfers out
  • +Ethical fund option
Limitations
  • –1.8% contribution charge on every payment in
  • –Very limited fund choice
  • –No self-directed investing
  • –Designed as default, not optimised for engaged savers
Details
Fund range5 fund choices (retirement date funds, ethical, Sharia, higher risk, lower growth)
Minimum investmentNo minimum (auto-enrolment)
Typical fund OCFIncluded in the 0.3% AMC
SIPPNo
Compare NEST with
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Things to consider
  • •Fees shown are platform fees only — you also pay fund-level charges (OCF) on top, which vary by fund choice.
  • •Fee structures change without notice. Always verify the current fee on the provider's website before making any decision.
  • •The cheapest provider is not necessarily the best fit — consider fund range, customer service, platform features, and the specific funds you want to hold.
  • •Transferring a pension may involve exit fees, loss of guaranteed benefits, or loss of employer contributions. Check before you transfer.
  • •This page is factual information based on published fee schedules, not a recommendation to use or avoid any provider.
  • •If you're unsure which provider is right for you, speak to an FCA-regulated financial adviser.

This calculator provides estimates based on 2025/26 tax rates and is not financial advice. Scottish taxpayers are subject to different income tax rates and bands. The calculations assume your salary is your only source of income and do not account for benefits in kind or other taxable income.

For personalised guidance on your pension contributions, speak to an FCA-regulated financial adviser. You can find one via Unbiased or VouchedFor.