Virgin Money, a leading financial services company, has announced the launch of its innovative pension offering, further bolstering its digital platform and enhancing its partnership with FNZ.
The impetus for the new pension product stems from a desire to simplify retirement planning. In April 2023, Virgin Money collaborated with FNZ to create a digital solution tailored for UK retail investors. This initiative aimed to demystify investments, making them more transparent and user-friendly.
The newly introduced pension product includes two distinct choices – Navigator and Self Drive. These options are designed to empower customers, giving them the tools to effectively manage their finances and plan for a comfortable retirement. The focus is on simplicity and clarity, enabling customers to make informed decisions about their financial future.
In addition to these features, Virgin Money is facilitating the consolidation of existing pensions. Customers can easily transfer their existing pensions into the Virgin Money pension scheme. This process provides a consolidated view of potential retirement income, simplifying management and planning in one comprehensive platform.
Virgin Money Investments CEO Jonathan Byrne emphasized the benefits of the new pension scheme. He stated, “We’re delighted to have launched a new pension proposition – giving customers the confidence to plan for a brighter retirement and feel in control of their money. Planning for the future should feel straightforward. That’s why we’ve designed our new pension to simplify the path to financial security.
“After a comprehensive selection process, Virgin Money selected FNZ as its partner. This was due to their state-of-the-art technology. Proven excellence in delivering market-leading direct-to-consumer propositions. A track record of complex platform implementations. And their ability to deliver innovative end-to-end digital experiences across multiple channels.”
Alastair Conway, FNZ Chief Executive Officer, UK, Middle East and Africa, also expressed excitement about the partnership. He added, “We’re thrilled to have partnered with Virgin Money on the launch of the new pension offering. Our partnership reflects our joint commitment to transforming the landscape of wealth management, helping everyone, everywhere invest in their future on their own terms.”
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