Of course there are situations where you should fold the nuts.

The classic example: You make final table at a tourney, you get dealt AA, all eight players go all in. You are short stacked and all eight players have you covered. You stand to rocket to second place if you just fold them. Second place would buy you a new house. You fold.

In the situation you describe I might lay it down if its a five way or something along those lines and I have reads that they are tight players, where someone drawing to a better straight, the flush and the boat... the outs have your hand reduced to a coinflip. If they are loose players then call and let them pay you off. 3 way? Probably won't lay it down, late in an SNG plenty of players will go AI with middle pair, TPTK even bottom pair or overcards.