Nest reduced its gender and ethnicity pay gaps in 2025/26, but acknowledged that “further sustained effort” was still needed, its 2026 Pay Gap Report has revealed.

The report showed that Nest’s median gender pay gap fell from 14.2 per cent in 2024/25 to 13.3 per cent in 2025/26.

Since the provider first reported its pay data in 2027, its gender pay gap has decreased by 13.1 percentage points.

Meanwhile, Nest’s median ethnicity pay gap also fell, from 23.6 per cent in 2024/25 to 22.8 per cent in 2025/26.

The report disclosed Nest’s disability pay data for the first time, with its median disability pay gap standing at 6.8 per cent.

More than half (52 per cent) of Nest’s workforce was female, while 32 per cent were from ethnic minority backgrounds, based on employees who had disclosed demographic information.

Nest said the reduction in its gender pay gap was consistent with increased recruitment of women into higher-paid roles and more balanced representation across pay quartiles.

Similarly, the decline in the ethnicity pay gap was consistent with “changes in recruitment patterns”.

However, Nest acknowledged that under-representation of people from ethnic minority backgrounds at senior levels continued to contribute to the gap.

“We are committed to making Nest a fair, inclusive and welcoming place to work, where everyone has access to opportunities to develop and progress,” commented Nest chief people officer, April Clark.

“This year’s report shows that we are making progress in closing some of our pay gaps, but we recognise that progress is not yet where it needs to be and that further sustained effort is required.

“Publishing this data, including beginning to report on our disability pay data, is an important part of holding ourselves to account.

“We will continue to focus on embedding fair and transparent practices across recruitment, development, pay and progression to deliver long-term change.”

Nest CEO, Ian Cornelius, added: “As a purpose-led public corporation, we know transparency matters. Publishing our pay gap data each year is an important part of holding ourselves to account – both to our colleagues and to the millions of members we serve.

“It’s encouraging to see progress in some areas this year, but we are not complacent. We know there is more to do, especially in improving representation at senior levels.

“Closing these gaps will take sustained, long-term action across recruitment, development and progression. We remain committed to embedding fairness and inclusion into how we operate, so that everyone at Nest has the opportunity to thrive.”

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