Nest Insight is a public-benefit research and innovation centre set up by Nest Corporation in 2016. Our work is about finding better ways to support people’s lifelong financial security. We focus on understanding the lived experience of people on low, moderate and volatile incomes, learning about their financial needs, challenges and goals through rigorous and thoughtful analysis. We work with employers, product providers, academics and policymakers in the UK and around the world to identify, invent, test and evolve practical solutions and see what works best for people in the real world. This builds the case for systems-level change.
Our findings are shared widely and freely so that people around the globe can benefit from our work. Together our team of around 25 delivers an ambitious programme of research, publications and events, sharing best practice, both nationally and abroad. The team is passionate about the work we do and proud of what we are achieving. We are innovative thinkers, not afraid to challenge the status quo. We work flexibly, creatively and collaboratively. We are committed to supporting each other to learn and develop.
Our ground-breaking research into workplace savings has included piloting a hybrid sidecar savings solution, and pioneering opt-out approaches to workplace saving working with employers, credit unions and fintech benefits providers. These trials have been influential in the UK and internationally, and been celebrated in the media. Supporting the availability and take-up of workplace emergency savings at scale has the potential to positively impact millions of people – reducing anxiety and stress, helping avoid problem debt, and boosting wellbeing and productivity.
Our Real Accounts project is the first study of its kind in the UK, building an in-depth understanding of the lived experience of low and moderate income households whose income fluctuates over time. Using a custom designed data collection app alongside monthly interviews with 44 households, we have identified the huge mental burden undertaken by people on volatile incomes working within a system designed for regularity.
We also work to understand overall household finances: we have been matching data from Nest’s 13 million members with other financial datasets and academic studies to get a full and holistic picture of people’s long-term savings. This has helped us to better understand the knock-on impacts of changes such as saving for a pension on other parts of people’s financial lives – for example, their level of debt or how much they spend.
And we also focus on the particular challenges faced by self-employed people.
Whilst Nest Insight is a business unit of Nest Corporation, we are responsible for raising our own operating budget through sponsorships, grants and in-kind support from organisations with similar research interests, goals and values. Our funders include BlackRock, MaPS, the Aviva Foundation, and the Nuffield Foundation.
By working in partnership with industry, academics, innovators and policymakers, and sharing our research widely and freely, we’re generating insights that could improve the retirement outcomes of millions of savers worldwide. Working to a new communications strategy with a focus on external impact, and with lots of exciting projects ongoing and plans to expand our reach significantly, this is an exciting time to join Nest Insight.