News | Frequently Asked Questions | Contact Us | Home

Employer Login                Employee Login

Frequently Asked Questions

 

 

Q. What is NEST?

 

A. NEST is a national industry trust fund designed specifically to protect employees' entitlements as they accrue. It is a not-for-profit trust open to employers from any industry.

 

Q. Why have a trust for entitlements?

 

A. It secures employees from any financial problems of employers and enables employers to remove all entitlement obligations from their balance sheet.

 

Q. How does NEST work?

 

A. Employers pay monthly contributions into NEST representing the entitlements of their employees. These entitlements are held in trust until they become payable. When entitlements fall due, employees will either be paid by their usual manner with employers claiming from NSET or will be paid directly from NEST to the employee. In the event of an employer's insolvency NEST pays all the due entitlements in the trust directly to the employee.

 

Q. Who controls NEST?

 

A. NEST is controlled by it's Trustee; NEST Nominees Pty Ltd.

 

Q. What fees and charges are involved?

 

A. There are no costs to employers or employees. All expenses are funded from a portion of investment income.

 

Q. Where do my contributions go?

 

A. Contributions are pooled and invested in funds which are rated "A" or better by a recognised credit agency.

 

Q. Can accrued entitlements be transferred into NEST?

 

A. Yes, with the exception of superannuation and subject to the relevant Employment Agreements you are able to transfer any entitlements into NEST.

 

Q. Are entitlement funds safe if the employer sells the business?

 

A. Yes this arrangement protects employees in the event that the new owner can not or will not guarantee their accrued entitlements of the employer prior to the sale.

 

Q. What happens to employee entitlements with they change employers?

 

A. When an employee changes employers entitlements will continue to be directly credited to NEST, provided that the new employer is a NEST member. If the new employer is not a member, NEST will hold that employee's member entitlements in an account until claimed, or the employee member moves onto another employer who is a member.