# The National Employment Savings Trust (Amendment) Order 2026, Note: Explanatory note


(This note is not part of the Order)
This Order amends the National Employment Savings Trust Order 2010 (S.I. 2010/917) (“the Order”).
Section 67(1) of the Pensions Act 2008 (c. 30) (“the Act”) and article 3 of the Order established a pension scheme known as the National Employment Savings Trust (“the Scheme”). The National Employment Savings Trust Corporation established under section 75 of the Act was appointed as the trustee of the Scheme (“the Trustee”) under article 4 of the Order.
Article 32 of the Order lists the benefits that the Trustee may pay using the pension account of a member of the Scheme. Article 2(2)(a) and (b) amend article 32 of the Order to provide that the Trustee may additionally provide a drawdown pension or a scheme pension to a member. Article 2(2)(c) amends article 32 of the Order so that, when a member has died, the Trustee may additionally provide either a dependant’s scheme pension or a drawdown pension to dependants, nominees or successors. Drawdown pension, dependant, dependants’ scheme pension, nominee, scheme pension and successor are defined in reference to terms used in the Finance Act 2004 (c. 12).
A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen.

---
Source: https://www.legislation.gov.uk/ukdsi/2026/9780348279894/note (the official version)
Page: https://openlegislation.uk/draft-national-employment-savings-trust-amendment-order-2026/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.