Nest has shared information on its UK-based investments for the first time, after research from the scheme found that the majority (70 per cent) of its members wanted more information about how it invests in the UK.

In particular, the research found 75 per cent of members are either unsure or underestimating the current levels of UK investment in their pension pots.

In addition to this, more than two thirds (69 per cent) of members were interested in where in the world their money was invested, with 70 per cent wanting more information about how Nest invests in the UK specifically.

Given this, the scheme announced plans to publish a quarterly summary of how its assets are invested in the UK, just like it does with investment performance, to help provide members with further detail going forward.

The move was also highlighted by the scheme as demonstration of its ongoing and long-term commitment to transparency and its focus on contributing to the UK economy.

In its first update, the scheme confirmed that it invests “at scale” in the UK, with more than a fifth of its assets under management, around £8.5bn, in UK investments.

However, Nest said that it intends to have £20bn invested in the UK by the end of the decade.

Nest CEO, Ian Cornelius, said: “The UK is already a major market for Nest with a fifth of our investment based right here.

“More than a third of the UK workforce has a pension pot with Nest and we want to help invest in their jobs, their communities, and the things they rely on, like roads and bridges.

“I am pleased Nest is taking this significant step in providing our members with a clear understanding of how their hard-earned contributions are being invested in the UK.

“We hope this step we’re taking towards further transparency encourages others in the wider pensions industry to adopt this practice – in advance of the value for money measure being in place.”

Nest Invest CEO, Mark Fawcett, also stressed the importance of focusing on UK-based investments, arguing that “pension funds should be looking hard for UK investment”.

“One of the world's biggest economies is right here on our doorstep and it’s an attractive place to do business. It allows us to support local businesses and infrastructure projects, fostering economic growth and job creation,” he stated.

“Investing in the UK aligns our investment strategy with our long-term goals of sustainability and stability, ensuring that our members' pensions are secure and contributing to the world they will retire into."

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