Made under the Pensions Act 2008
1 statutory instrument made using powers in the Pensions Act 2008, newest first. Each one is explained section by section in plain English.
The National Employment Savings Trust (Amendment) Order 2026
- Department: Department for Work and Pensions
- Made under: Pensions Act 2008
Amended the National Employment Savings Trust Order 2010 to allow the Trustee to offer drawdown pensions to members and expand post-death payment flexibility to dependants, nominees, or successors.
This Statutory Instrument, the National Employment Savings Trust (Amendment) Order 2026, amends the National Employment Savings Trust Order 2010 to introduce greater flexibility in how pension benefits are paid from the National Employment Savings Trust (NEST).
The Order empowers the Trustee to offer members the option of receiving a drawdown pension and modifies benefit payment options upon a member's death to allow for a dependants' scheme pension or a drawdown pension paid to a dependant, nominee, or successor, incorporating terminology defined in the Finance Act 2004.