UK Nationwide Ltd is committed to helping its employees save for retirement through the implementation of automatic enrolment. This initiative ensures that employees are actively building their retirement nest egg by enrolling them in a workplace pension program. UK Nationwide Ltd has chosen The National Employment Savings Trust (NEST) Pensions as our workplace pension scheme for automatic enrolment.

AUTOMATICALLY ENROLLMENT:

UK Nationwide Ltd will automatically enrol employees into The NEST Pension ifthey meet the following criteria:

·         Aged at least 22 but are under State Pension Age

·         Earn an annual income of more than £10,000 a year (£833 a month or £192 a week).

·         Not already an active member of a qualifying workplace pension scheme with us

·         They are working or usually in the UK.

When an employee is enrolled in The NEST Pension, contributions to their pension fund will be deducted directly from their wages by UK Nationwide Ltd. Employees will typically receive tax relief on their contributions. Additionally, UK Nationwide Ltd will make its own contributions to the employee's pension fund. This ensures that more than just the employee's contributions are being directed into their pension pot.

Employees between the ages of 16 and 75 have the flexibility to join The NEST Pension at any time. If their annual earnings exceed £5,824 (equivalent to approximately £486 per month or £112 per week), contributions from UK Nationwide Ltd will begin from the time of enrolment. However, individuals earning less than this threshold will not be eligible for employer contributions.

Employees who wish to join should provide written consent to UK Nationwide Ltd, indicating their intention to participate in The NEST Pension. Following enrolment, employees will receive a comprehensive joiner pack from The NEST Pension via email. This pack contains information on how to opt out if they choose to do so.