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Virgin Money has launched a rewarding offer for new customers who transfer or combine their pensions to a Virgin Money pension. Customers can earn up to 125,000 Virgin Points, which can be spent on everything from food to flights, gifts to gigs, days out, nights in and much more, via Virgin Red, Virgin’s rewards club, simply by transferring one or more of their pensions over to a Virgin Money pension.

The amount of Virgin Points a customer will receive depends on the total amount of money transferred into the Virgin Money pension:

Total amount transferred inVirgin Points reward
£1,000 - £9,99910,000
£10,000 - £24,99920,000
£25,000 - £49,99945,000
£50,000 - £100,000100,000
£100,000+125,000

To qualify for this offer, customers need to already be members of or join Virgin Red and transfer one or more pension(s) worth at least £1,000 to a Virgin Money pension by 23 August 2024, keeping it open until at least 20 December 2024. Terms apply. Customers who already have a Virgin Money pension and have transferred one or more pensions to Virgin Money online since 8 January 2024 will also automatically benefit from the bonus Virgin Points reward.

Transferring or combining old pensions to a Virgin Money pension is straightforward and allows customers to consolidate their pension in one place, making it easier to take control of retirement savings, track investments and get a clearer picture of their retirement income.

Virgin Money’s pension, which has been designed with simplicity in mind, includes two choices for customers to choose from – Navigator and Self Drive – that help customers take control of their future and grow their money for a brighter retirement. Both pension options are managed by a dedicated team of investment experts.

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

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.

Jen Adams, chief commercial officer at Virgin Money Investments said: “We know that keeping on top of multiple pension pots can be tricky and time consuming. By transferring or combining existing pensions to Virgin Money customers can easily track and manage their pension plans, and with this rewarding new incentive enjoy an added bonus of up to 125,000 Virgin Points to spend with Virgin Red. We want to make managing a pension as straightforward as it should be, by having everything in one place, to give our customers peace of mind helping them build up the confidence to plan for a brighter retirement and feel in control of their money.”

Andrea Burchett, chief loyalty officer and managing director at Virgin Red, said: “We’re delighted to partner with Virgin Money to offer customers up to 125,000 Virgin Points when they transfer or combine their pensions to Virgin Money. Virgin Points can be spent on a whole host of different rewards with Virgin Red, from everyday treats such as cinema tickets and hot drinks to flights, cruises and unforgettable experiences – there really is something for everyone.”

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 Virgin Money’s pension is available here.



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

Fees
Charges are up to 0.75% in total each year, based on the value of the account. This is made up of two clear and simple charges. An Account Charge of 0.30% for managing the account and an Annual Management Charge of up to 0.45% for managing the investments.

Pension age
With this product you can only access your pension money as a lump sum from age 55 (57 from 2028).

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