Choosing your section
Welcome to the Nestlé UK Pension Fund! You can join the Fund if your employment contract states you are eligible and you are:
- age 16 or older, but
- not within one month of your Normal Pension Date.
You can choose to join the Fund as soon as you start work with Nestlé, but if you don’t join during your first 90 days of employment, Nestlé will enrol you on your 91st day of employment. Pension membership is a condition of employment for all new recruits joining Nestlé companies in the UK. Membership of the Fund is a valuable benefit and you will have more choice and could benefit from a higher contribution rate from Nestlé if you choose to join during your first 90 days.
Available to all employees
Available to employees joining through contractual or
auto-enrolment in the future
During your first 90 days of employment, you can choose to join DC Core. If you join DC Core, you will be able to choose how much to contribute (between 5% and 8% of your Pensionable Earnings) and where your contributions are invested. You’ll also benefit from higher contribution rates from Nestlé than if you choose DC Start. Contribution rates are shown below:
|You contribute*||Nestlé contributes|
If you choose to join DC Core, your membership will begin either on the day your employment starts (if you return this form in advance of starting work for Nestlé) or on the day we receive your completed form.
If you do not join DC Core during your first 90 days, Nestlé will enrol you into DC Start on your 91st day of employment. If you choose to remain in DC Start, you will have an opportunity to move to DC Core every quarter. You will be able to opt out if you wish.
If you've been employed by Nestlé for more than 90 days, Nestlé will have contractually enrolled you, unless you have opted out.
If you have previously opted out and now want to rejoin, your only option is to join DC Start. You will then have an opportunity to move to DC Core every quarter.
In DC Core, the amount of pension you receive depends on how much you contribute (including Nestlé contributions), how your investments perform and the cost of providing benefits at retirement.
You choose how much you contribute (between 5% and 8% of your Pensionable Earnings) and how your account is invested, giving you more control and flexibility. Nestlé also contributes 1.5 times your contribution rate helping your account to grow.
As DC Core is a Defined Contribution (DC) arrangement, you are in control of your contribution and investment choices to ensure that you have enough in retirement.
If you choose to make contributions of more than 8%, these will be classed as Additional Voluntary Contributions (AVCs). Nestlé does not pay anything towards your AVCs.
In DC Start, the amount of pension you receive depends on how much you contribute (including Nestlé contributions), how your investments perform and the cost of providing benefits at retirement. This is similar to DC Core. However, in DC Start you contribute 1% of your Pensionable Earnings and Nestlé contributes 2%, although your contributions will increase to 3% in April 2018 and 4% in April 2019 under legislation.
You cannot increase your contributions in this section but you will have an opportunity to move to DC Core. Contributions are invested in a default investment fund, which means that your investment choices are made for you.For more information about DC Start, see DC Benefits.