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Contributions
In this section
Should I stop contributing when financial markets are uncertain?
What are the different types of contribution I can receive?
What is the annual allowance?
What is the money purchase annual allowance?
Do I need to claim tax relief myself?
What should I do if I need to claim tax relief?
When will I get my annual statement?
How can I make additional contributions?
How do I stop contributions?
How do I check contributions paid into my retirement pot?
Minimum contributions have changed. What do I need to do?
Got questions about your annual statement?
How do I make contributions as a self-employed member?
- You can take a break from paying contributions at any time by choosing to stop.
- Stopping contributions is different from opting out. You can opt out only within the opt-out period. Visit How do I opt out? for more information.
- When you stop contributions, your Nest account remains active unlike opt out wherein your account gets closed.
- Once you’ve stopped contributions, any contributions paid will stay in your Nest retirement pot untilyou take your benefits from age 55 or you transfer it to another pension scheme.
How do I stop contributions online?
If you wish to stop all contributions,log into your online account.
Click ‘Manage employer contributions’ in Quick links at the bottom of your dashboard.
Then click ‘Stop contributions’.
If you’re unable to log into your online account, you can ask your employer to stop contributions for you. Alternatively, you can call our automated telephone service on 0300 020 0090.
What do I need to know after I stop contributions?
- Once you stop the contributions, it will be effective from the next pay period.
- Contributions may still be taken from your wages up to the date you choose to stop contributions.
- We’ll inform your employer that you wish to stop the contributions.
- For more information about when the contributions will stop, you can speak to your employer.
- Once you’ve stopped contributions, any contributions you’ve made will stay in your Nest retirement pot until you take your benefits from age 55 or you transfer it to another pension scheme. For more information on taking your money out of Nest visit How can I take my money out of Nest at retirement?
- You may be able to start making contributions through your wages again if you're a job holder. You’ll need to speak to your employer to see if you’re still eligible for employer contributions.
- If you’ve stopped contributions, you may be automatically enrolled back into Nest as part of your employer’s three year re-enrolment duty. You should check with your employer to see when their re-enrolment date is and whether you’ll be enrolled back into Nest.
How do I stop my regular additional contributions made by Direct Debit?
- From your dashboard click ‘Contributions’.
- Click ‘Regular additional contributions’.
- You’ll be able to see the contribution amount and the details of the Direct Debit that you’ve set up.
- To stop your regular additional contributions click ‘Stop contributions’.
- You’ll need to tell us if you wish to keep the Direct Debit mandate active so you can use it at a later date or cancel it completely.
- Click ‘Confirm’ once you’ve selected one of these options.
- Click ‘Yes, stop these contributions’.
- You’ll then see a message confirming that your regular additional contributions have been stopped.
- If the payment collection date is within five working days, from the date you notify us that you wish to stop, the contribution may be taken from your bank account. This will be your final contribution.
Can I opt out?
If you're automatically enrolled into Nest you can opt-out as long as you're within your one month opt out period.
How to opt out
Why save into a workplace pension?
Workplace pensions are an effective way to save, helping to build financial security for your future.
Why save
Understanding tax relief
See how you could get extra money from the government every time you put money into your pension pot.
Tax relief benefits
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