Chair of the Members' Panel
Nest is the National Employment Savings Trust. It runs an occupational pension scheme, being a trust-based scheme on a not-for-profit basis in the interests of its members. Nest was initially set up by the government to give every worker in the UK somewhere to save for retirement and we’re now one of the largest schemes in the UK.
We look after the pensions of more than nine million savers with nearly £17.5bn of members’ assets under management and we’re growing by around £5bn every year. We have a strong customer focus and a true social purpose with environmental and social governance at the forefront of what we do. We want people to look forward to the future with optimism and to give our members bigger pensions in a better world – not one or the other.
The Members’ Panel was set up in accordance with the Pensions Act 2008 and Nest Order 2020 to ensure a voice for the members of Nest, both past and present. It represents Nest’s members by providing advice on the operation, development and amendment of the scheme. Nest has ensure that high quality pension provision is available to all who require it. The Members’ Panel currently has 12 members.
The Members’ Panel meet up to four times a year to discuss the development and operation of the scheme and hold a joint meeting with the Board and Employers’ Panel. During the 2020/21 financial year, the Panel had a busy program of work and were consulted on a broad range of topics that affect Nest’s members, including customer engagement, proposed changes to the Statement of Investment Principles, the new Scheme Administration service and the pensions dashboard. Some Panel recommendations were considered by Nest and some of those recommendations have been implemented into the Scheme over the year.
As the chair of the Members’ Panel, you will be instrumental to adding to Nest’s assurance framework of regular reports to the Panel as well as providing an annual assessment to the Nest Board.
What you’ll need to succeed
- The Chair is central to the effective operation of the Members’ Panel in providing clear advice and challenge from a member’s perspective to Nest Corporation on the operation, development or amendment of the Nest scheme;
Previous experience of chairing or acting in a leadership role on an advisory body, influential body or representative committee acting in the best interests of employers is essential, as is a working knowledge of auto-enrolment from an employers’ perspective.
You will have significant experience in a senior leadership position and be able to influence and effect change, reflecting the views of a wide and diverse group of stakeholders.
You’ll have a clear commitment to the seven principles of public life: selflessness, integrity, objectivity, accountability, openness, honesty, leadership.
Diversity is also important to Nest and applicants from a broad range of backgrounds is encouraged, to be reflective of its member and employer base.
What you’ll get in return
Base salary up to £12,000 per annum for a commitment of approximately 10-15 days p.a.
Term: Four years with the potential for reappointment.
Location: Panel meetings are usually held at NESTs London offices, 10 S Colonnade, Canary Wharf, London, E14 4PU, however depending on circumstance we may adopt hybrid models with some attendees being present in person and others joining remotely.
Conduct: If appointed, the Chair will be expected to act in accordance with the Cabinet Office Code of Conduct for Board Members of Public Bodies
Conflict of interest: The Chair should avoid situations in which their Nest duties and private interests’ conflict or where there could be a suspicion of conflict. Candidates must declare any personal or business interests which may, or be perceived to, influence your judgments in performing your functions.
What you need to do now
Please complete your application on our website
For further information on the Members Panel, please click here.
Application closing date is Thursday 28th October.
Nest is an equal opportunity employer. We encourage applicants from all of the nine protected characteristics.
As a Disability Confident Committed, we guarantee to interview disabled applicants who meet the minimum criteria for the vacancy.