Why Join Nest?
Employee entitlements represent a significant component of an employee’s remuneration. For employers they represent a liability that must be reliably funded and paid out at some time in the future. Whilst entitlements accrue on an employer’s balance sheet, employees are inadvertently exposed to business risk.
Employees seek clear assurance that their entitlements are secure, and employers are eager to provide that confidence. NEST offers a solution with a robust structure for funding and safeguarding employee entitlements, ensuring independence and protection from business risk. This approach delivers mutual benefits to employers, employees, and the community.
Benefits for Employers
At NEST, we understand that managing employee entitlements is a significant responsibility. Here’s why employers across industries trust NEST:
- Tax Advantages: Benefit from immediate deductions on contributions.
- Cash Flow Predictability: Simplify your financial planning with structured contributions.
- Liability Reduction: Transfer entitlement liabilities off your balance sheet for a healthier financial position.
- Build Trust: Demonstrate your commitment to employee welfare, boosting morale and loyalty.
The information presented above is produced as an example and is not intended as financial or taxation advice. You should consult your accountant before making any decisions based on this information.
Benefits for Employees
At NEST, we understand how important your entitlements are to your financial security and peace of mind. That’s why we’re dedicated to safeguarding them, ensuring you can focus on your work knowing your hard-earned benefits are protected.
- Your entitlements are protected: Contributions made by your employer are held in trust, separate from their business operations. This means your entitlements are sheilded from financial risks your employer might face. Even in the case of business insolvency, your entitlements are safe and paid to you promptly.
- Speed and Reliability: With NEST, you won't have to wait weeks or months to access what's rightfully yours. Payments are made directly to you in the event of redundancy or insolvency, often within days. Claims for leave or other entitlements are reimbursed to your employer quickly, ensuring no delays.
- Full Transparency: NEST provides you with a personal online account, so you always know where you stand. View your balance, contributions, and entitlement details anytime. You will also recieve regular statements to keep you informed about your account activity.
- Peace of Mind: No matter what happens in your workplace, your entitlements are secure with NEST. You can rely on NEST to protect what you've earned, giving you confidence in your financial stability.
- Simple and Convenient: NEST fits seamlessly into your existing workplace processes. You continue to claim your entitlements from your employer in the usual way. There's no disruption or extra steps for you to access your benefits.
With NEST, you’re not just another employee—you’re part of a system that prioritizes your security and well-being. Choose NEST to safeguard your entitlements and your future.
Benefits for the Government and Community
NEST offers a simple and efficient model that provides benefits for all stakeholders. In the event of insolvency, and subject to the terms of the Trust Deed (including a claim being lodged by the employer) NEST ensures employees receive their entitlement payments within days of the event, helping to minimise financial hardship. This quick payment process reduces employees' reliance on welfare safety nets while they seek new employment opportunities.
As a result, NEST contributes to a decrease in social security claims and taxpayer-funded support for employee entitlement liabilities, alleviating the burden on taxpayers and the general community. Additionally, NEST aligns with the Government’s objective to foster public confidence in the business sector by promoting responsible financial management and strong corporate governance practices.