I'm with Paystream and they auto-enrolled me for the 2nd time (they have to do it every 3 years). It isn't worth going through NEST as I have my own SIPP that Paystream make payments directly into. This is far more tax efficient. I just contacted NEST via there website and un-enrolled myself. Paystream then refunded the contributions they had made.
You need to contact NEST and cancel your enrolment. This needs to be done within 4 weeks of your enrolment or else your NEST contributions don't get refunded by Paystream - you will have to take it up with NEST.
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Reply to: Paystream and NEST
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Previously on "Paystream and NEST"
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Originally posted by czarcasm View PostCurrently working via umbrella with Paystream and they have auto-enrolled me into the NEST pension scheme.
I'm inclined to opt out and instead continue making employer SIPP contribution to II given their better fees and flexibility.
Not sure if I'm missing something, but as all pension contributions are ultimately borne by me from my day rate I don't see any advantage of keeping NEST too?
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Hi czarcasm,
It's completely personal preference. Paystream had the legal requirement to autoenrol you, but you are free to opt out or ask them to pay into another fund (if they can accommodate that).
Thanks
Zeeshan
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Paystream and NEST
Currently working via umbrella with Paystream and they have auto-enrolled me into the NEST pension scheme.
I'm inclined to opt out and instead continue making employer SIPP contribution to II given their better fees and flexibility.
Not sure if I'm missing something, but as all pension contributions are ultimately borne by me from my day rate I don't see any advantage of keeping NEST too?Tags: None
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