How is NEST managed?

Leadership and Governance Overview

At NEST, our leadership team brings together decades of experience in employee rights, financial management, and corporate governance.

• Chairman - David Oliver: With over 30 years of advocacy for workers' rights and entitlements, David is a founding member of NEST. His leadership ensures NEST’s commitment to protecting employees remains at the forefront.
• Employee and Employer Directors: Our Board of Directors is made up of equal representation from employer and employee groups, ensuring balanced decision-making and fairness.
• Independent Chairperson: To uphold impartiality, the Board includes an independent Chairperson with a casting vote in the event of a deadlock.
• Administrator and Investment Manager - Coverforce Pty Ltd: Trusted with the day-to-day operations, Coverforce delivers high-quality administrative services certified under international standards.

This governance model ensures NEST operates with integrity, accountability, and transparency for all stakeholders.

The Trustee

The Trustee of NEST is NEST Nominees Pty Ltd (the Trustee), which holds a legal responsibility to manage and administer NEST in full compliance with the Trust Deed and applicable laws.

The Trust Deed is a legally binding document that has been designed to ensure security, integrity, fairness and flexibility for both employers and employees. You can download a copy of the Trust Deed here.

As a not-for-profit corporate trustee, NEST is governed by a Board with equal representation from both Employer and Employee Directors, each holding equal power and voting rights. NEST is also led by an independent Chairperson, who does not vote on Trustee resolutions but holds a casting vote in the event of a deadlock.

In alignment with the Trust Deed, the Trustee is committed to upholding the highest standards of corporate governance. As stipulated in the Trust Deed, NEST Nominees Pty Ltd is exclusively dedicated to fulfilling its role as the Trustee of NEST, and is prohibited from engaging in any activities outside this capacity.

The Administrator and Investment Manager

NEST is committed to delivering the highest standard of administrative service to its customers. To achieve this, the Trustee has appointed Coverforce Pty Limited ACN 067 079 261 (Coverforce) to manage all administrative functions for NEST and Partnervest Pty Ltd ACN 683 034 693 (Partnervest) Corporate Authorised Representative of Industry Funds Services Limited ACN 007 016 195 AFSL 232514, as the Investment Manager.

Administrator - Coverforce

Coverforce is a leading administrator with over 20 years of experience managing industry funds. Holding Australian Financial Services Licence (AFSL) number 238874, Coverforce provides specialist administration services to NEST, ensuring the secure and efficient handling of employer and employee entitlements. As the Administrator, Coverforce is responsible for:

• Registering Participating Employers and their employees.
• Managing the collection, allocation, and distribution of entitlements.
• Processing claims and administering the ongoing claims process.
• Maintaining and enhancing the technology that facilitates NEST's administration.
• Assisting employers and members with enquiries and support.

Investment Manager - Partnervest

Partnervest is a globally recognised investment management firm with decades of experience in asset management. Appointed as the Investment Manager for NEST, Partnervest is responsible for overseeing the investment of pooled funds in accordance with the Trustee's strict guidelines.

The firm’s expertise ensures that NEST investments adhere to the highest standards of security and credit quality. Partnervest's approach prioritises capital preservation while delivering stable and competitive returns, aligning with NEST's objective of protecting employee entitlements and supporting long-term financial sustainability.

Investment Approach

NEST funds are securely invested following the Trustee's guidelines, as outlined in the NEST Trust Deed. These guidelines prioritise capital security and require all investments to maintain an independent credit rating of 'A' or better from a recognised rating agency.

Key investment principles include:

• Protection of original capital (employee entitlement contributions) from capital loss.
• Regular distribution of net income earned, which can be used as a credit against future employer contributions.
• Investments only in institutions meeting the stringent criteria set out in the Trust Deed.

This structured approach ensures the safety of employee entitlements while providing potential long-term savings for NEST participants through self-funded entitlements obligations.