BT Pensions: NEST Contributions
28 November 2017
Recently, BT employees who are members of the National Employment Savings Trust (NEST) have received a reminder from BT that their contributions are due to increase next April.
Membersí contributions will rise from 1% to 3% of qualifying earnings while BTís contributions will rise from 1% to 2% of qualifying earnings.
The 1,800 BT employees who are in NEST are mainly already drawing a pension from the BT Pension Scheme. BT auto enrols individuals in this situation into NEST as part of the requirements under the pension auto enrolment legislation.
The increases in contributions next April are required by legislation and they are not linked in any way to the current BT pension review.