The Nest Member Assembly was commissioned by Nest, the UK’s largest pension provider. The Assembly ran across two weekends in January and February 2026 and was facilitated by Shared Future.

Nest is a pension scheme with 14 million UK members who have, together, £60 billion in assets under management. In recent years the scheme has grown fast, both in membership size and in the size of assets.

Pension schemes like Nest are significant not only for their members’ retirement, but also because their investments contribute to the shaping of our society and environment. It is important that their investment strategies are informed by the interests, views, and varied perspectives of a scheme’s members.

In November 2025, Nest sent 200,000 invitation emails to members across the UK, with varied demographic characteristics, attitudes towards risk and the environment, incomes, and pension savings.

451 people responded, registering their interest and availability, from which 52 participants were randomly selected to reflect the diverse backgrounds and views of the Nest membership.

The Assembly was asked the following question, which was broken into 3 sub-questions:

“How should Nest invest in the best interests of its members?”

• What values and considerations should guide how Nest invests?
• What is good ownership at Nest?
• What type of involvement, if any, should members have in how Nest invests?

Over 4 days, the Assembly produced 12 principles and 7 recommendations for how members should be involved in Nest decision-making, as well as 30 recommendations on how Nest should invest.