Provider comparison
NEST vs People's Pension
Side-by-side comparison from the PerkIQ directory. Cover, pricing, regulator status, and fit at a glance.
NEST and People's Pension are two of the largest UK workplace pension master trusts, both built around auto-enrolment. NEST is the government-backed scheme set up to accept any employer. People's Pension is a large not-for-profit master trust with several million members.
- Free for employers. No setup or ongoing employer fees. Member charges fund the entire scheme.
- Government-backed. Public service obligation means NEST cannot refuse any employer, making it the universal fallback for auto-enrolment.
- Multiple default fund options. Higher Risk Fund, Lower Risk Fund, Ethical Fund, and Sharia Fund all available to members.
- Payroll integrations. Direct integrations with all major UK payroll providers for automated contribution submission.
- Master trust authorised by TPR. Independently governed by an experienced trustee board, with regulatory oversight from The Pensions Regulator.
- Strong default fund. Multi-asset, responsibly-managed default fund that has consistently outperformed peers over rolling 5-year windows.
- Direct payroll integrations. Native integrations with Sage, Xero, Iris, BrightHR and others for automated contribution submission.
- Online employer dashboard. Self-service employer portal for managing enrolments, contributions, and opt-outs without paperwork.
- Any employer needing a reliable default: NEST is government-backed and has a public service obligation to accept every employer.
- Lower-paid or high-turnover workforces: no employer charge and universal acceptance make it a common choice for these teams.
- Employers prioritising security and simplicity: a proven, large-scale master trust over a polished member app.
- Employers wanting an engagement-led experience: the member app is more functional than slick.
- Those wanting wide fund choice: NEST's fund range is deliberately limited.
- SMEs and larger employers: an established, not-for-profit master trust with broad payroll compatibility.
- High-turnover or lower-paid workforces: straightforward administration and universal acceptance.
- Employers wanting a recognised, low-fuss scheme: a long-standing provider focused on core auto-enrolment.
- Employers wanting cutting-edge engagement tools: the member experience is functional rather than app-led.
- Schemes needing bespoke, advised governance: better served by a tailored arrangement.
- TPR authorised
- Government-backed
- 12m+ members
- 1m+ employer schemes
- Free for employers
- Any size eligible
- TPR authorised
- Not-for-profit (B&CE)
- 6m+ members
- Auto-enrolment ready
- Strong default fund
- Direct & broker channels
Which should you choose?
Choose NEST for government backing and guaranteed acceptance. It is free for employers and obliged to take any employer, making it a dependable default, though its contribution charge and functional member experience are worth weighing.
Choose People's Pension if you want a not-for-profit provider with a straightforward annual management charge and strong service. As one of the UK's largest master trusts, it combines scale with member-focused governance.
Both are master trusts regulated by The Pensions Regulator and widely used by UK SMEs. NEST leans on its public backing and open-door policy; People's Pension on its not-for-profit model and service record.
Pick the right one with data, not a sales pitch
Score your benefits stack with PerkIQ and you'll see which of these (or another provider entirely) closes the biggest gaps for your team.
Information on this page is editorial, gathered from public sources and the providers' own materials, and does not constitute financial advice or a recommendation. For a quote, contact each provider directly or speak to an FCA-authorised broker. PerkIQ is not a reseller and earns no commission on provider sign-ups.
