Opting Out

Whilst we have a statutory obligation to automatically enrol you into a pension scheme you retain a statutory right to opt out of the scheme if you so wish.

However, opting out is solely your decision. As a Company we are strictly prohibited from giving you guidance or encouragement to opt out. Consequently if you do wish to opt out then:

i) you can only do so once you have been enrolled, and

ii) you must do so directly with NEST either online or by telephone. It is not something that we can do for you.

Opt-Out Window

You can 'opt out' within one month from the date you become an active member of NEST. NEST will issue you with a welcome pack and this will clearly state the opt-out period dates i.e. your opt-out "window".

Opt-outs actioned during this window will result in you being treated as though you have never been a member of the scheme. Therefore any payments that you have already made will be refunded in your next payroll cycle.

Once the opt-out window has closed

Even once the opt out window has closed you can still elect to cease membership of NEST. However, this will just mean that future contributions will cease. Contributions already made (including those paid by the Company) will remain in an account with NEST in your name and cannot be refunded.

Re-enrolment

Even though you may have opted out, Compass will be obliged to re-enrol you on the next and subsequent third anniversaries of our staging date (1 November 2012). You will be able to opt out again. If you do not opt out within the window, or you decide on that occasion to remain in the scheme, then those contributions will be added to any NEST account that you already have.