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Virgin Money launches new pension for a brighter retirement

Virgin Money has launched a new pension, which includes two straightforward choices – Navigator and Self Drive – that help customers take control of their future and grow their money for a brighter retirement.

The pension has been designed with simplicity in mind to give customers the confidence to make good decisions when it comes to managing their money.

Customers can get started with as little as £25 a month and there are two easy to understand options for customers to choose from, both of which are managed by a dedicated team of investment experts:

  • Navigator – a straightforward, hands-off way to manage a pension. Virgin Money automatically adjusts this pension for a customer depending on their stage of life, focusing on growth when the customer is younger and moving to focus more on stability as they get older.
  • Self Drive – for customers who want to steer their own route to retirement. It consists of four different investment approaches to suit different risk appetites:
    • 1) Careful Defensive approach
    • 2) Cautious Growth approach
    • 3) Balanced Growth approach
    • 4) Adventurous Growth approach

To help customers decide which of the two options and/or the four approaches best suits them, Virgin Money has added a series of helpful guides and videos to its website*, as well as two quick and easy Navigator or Self Drive calculators.

Virgin Money is also helping customers combine existing pensions into one. In just a few simple steps, customers can transfer existing pensions into their Virgin Money pension, meaning they can gain a much clearer view of what their overall retirement income could look like and manage this all in one place.

Plus, with Virgin Money’s Online Service and dedicated app, customers can keep track of their pension wherever and whenever they want to, as well as top up at any time with one-off payments, all while seeing how their pension and investments are performing in as much or as little detail as they choose.

Jonathan Byrne, chief executive officer at Virgin Money Investments, said: “Pensions are one of the most rewarding and tax efficient ways to save for later life, but we know they can seem baffling at times too. At Virgin Money, we believe planning for the future should feel straightforward, which is why we’ve designed our new pension offering to simplify the path to financial security, giving our customers the confidence to plan for a brighter retirement and feel in control of their money.”

Fairer Finance has awarded Virgin Money's investment terms and conditions their Clear and Simple mark. This means they meet their high standards for legibility and design and is recognition that they are easy to understand.

More information on the new pension, which has been developed in partnership with abrdn, is available here.

* Virgin Money does not offer financial advice but does provide tools and information to help customers decide for themselves.