The government-backed auto-enrolment scheme covering a third of UK workers
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Nest was set up by the government for auto-enrolment and now looks after more UK pension savers than any other scheme. The 0.3% annual charge is excellent, and the default fund has performed respectably.
The 1.8% contribution charge is the bit people miss: every £100 you pay in, £1.80 goes in charges before it is invested. It is not a reason to opt out, and for most members Nest remains decent value, but higher earners consolidating large sums elsewhere first may save money.
Best for: Employees auto-enrolled through work and employers needing a no-fuss compliant scheme.
| Annual charge | 0.3% annual management charge |
|---|---|
| Workplace scheme charge | Same 0.3% for all members |
| Fund charges | Included |
| Contribution charge | 1.8% on every contribution paid in |
| Transfers in | Free |
| Drawdown | Limited options at retirement |
Verified July 2026 against Nest's published information. Workplace scheme terms vary, so check your own scheme documents.
Nest scores 3.9 out of 5 on Trustpilot (Great) from a modest review base for its 13 million members.
Members and employers value the simplicity, the low ongoing charge and the fact it accepts every employer.
The contribution charge, a dated website and a small fund range are the consistent criticisms in reviews and expert write-ups.
Nest's annual charge is 0.3% annual management charge. Fund charges are included. There is a contribution charge of 1.8% on every contribution paid in. Charges verified July 2026 against Nest's published information.
Nest charges 0.3% annual management charge. For context, the charge cap on an auto-enrolment workplace default fund is 0.75% a year. In a workplace scheme the charge is same 0.3% for all members. The 1.8% contribution charge means £98.20 of every £100 paid in gets invested. Over a long career this is roughly equivalent to an extra 0.1% to 0.2% a year.
Transfers in are free. Drawdown is limited options at retirement. UK providers cannot charge an early exit fee if you are 55 or over on a personal pension, and exit charges on other contracts are capped at 1%.
Nest scores 3.9 out of 5 on Trustpilot (Great) from a modest review base for its 13 million members. Members and employers value the simplicity, the low ongoing charge and the fact it accepts every employer. The contribution charge, a dated website and a small fund range are the consistent criticisms in reviews and expert write-ups. It suits employees auto-enrolled through work and employers needing a no-fuss compliant scheme.
Your annual statement shows the charge as a percentage and, since 2018, providers must also show it in pounds and pence. The 0.3% ongoing charge is among the lowest of any UK pension. If your pension came through an employer, the scheme booklet will state the charge your employer negotiated, which is often lower than the standard rate.
Considering a SIPP instead? Compare costs on our UK broker comparison, or read the SIPP guide.
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Pension transfers can be irreversible. This page is information, not financial advice.