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We know pensions aren’t always the easiest to get to grips with. That’s why our new Navigator Pension has been designed to take away the hard work.

It’s easy to understand and quick to get started. And our experts manage your pension investments for you.

Seriously, you don’t need to do a thing. So, sit back, relax and we’ll walk you through the details.

But first there’s some fine print to consider. A pension is designed for later life and usually can’t be accessed until age 55 (rising to 57 in 2028). This handy guide can give you useful tips but it isn’t personal advice. If you’re not sure if something is right for you, you can always seek independent financial advice through Unbiased Link opens in a new window.

Where do we put your money?

With Navigator, your money will be invested in lots of different assets across the world, including UK and overseas shares, property shares, corporate and government gilts.

This will help you ‘spread’ your risk – and means you’ll never have all your eggs in one basket.

If you’re not sure what any of the investments mean, check out our handy jargon buster.

Our Navigator pension is the default for customers. It’s great for those who don’t have firm retirement plans in place just yet. And who are likely to want to keep their pension invested whilst drawing on it in retirement. If you’ve got the time and experience to pick your own funds, and have a fixed date planned to take your pension money, you can switch over to our Self-Drive pension.

Other providers will also specify where they invest your money. Check around to make sure you’re happy about what your pension is being invested in.

What's so good about Navigator?

So you’re looking for a new pension, and you’re not sure where to start. But you know you need something easy, not time consuming and managed by experts.

Enter, Virgin Money’s Navigator Pension.

It’s simple
Navigator is quick and easy to open. Without any of the confusing investment jargon. You can pay in as much as you like (up to your annual allowance) and stop and start when you want. There’s no investment decisions to make either. We do it all for you.

It’s smart
This personal pension has been custom-built by experts. It'll automatically invest your money according to your age and life stage – up to and into your retirement. Clever, eh?

It’s flexible
There's no need to stretch your brain and try and decide your retirement date or plans right now.

OK, so how exactly does it work?

Navigator simply works with your age. And is designed for flexible access to your money in later life too.

With Navigator, your money’s managed by our experts every step of the way. Here’s how:

We pick and manage your investments
Our experts invest your money in a unique mix of different investments from around the world. Spreading your money like this provides more opportunity for growth – and helps to reduce your risk too.

We track performance
The performance of investments can be influenced by lots of things, including changes in the market. As well as global events. So, our experts regularly review how your assets are allocated in our funds to make sure it’s providing you with the best potential return.

We change your investment mix with age
Your investment mix changes in line with your age and life stage. We’ve detailed the basics of how this works below – and we've pulled together a handy chart too.

During your younger years, your main aim is to grow your pension savings. You’re more likely to take on higher risk for higher potential returns. But as you near age 55 (when you can currently start taking money from your pension) you don’t want to invest as adventurously. So, you want your investments to be more cautious.

But who has the time to figure that all out for themselves? Lucky for you, you don’t have to. Between ages 51 and 65, Navigator will gradually move some of your money into lower risk investments to introduce a little more stability.

When you turn 65, we'll keep just the right balance between potential growth and more stable investments. This is so you can get the most out of the funds in your pension that you keep invested.

Transition phase

  • 40: 100%
    40: 0%
  • 41: 100%
    41: 0%
  • 42: 100%
    42: 0%
  • 43: 100%
    43: 0%
  • 44: 100%
    44: 0%
  • 45: 100%
    45: 0%
  • 46: 100%
    46: 0%
  • 47: 100%
    47: 0%
  • 48: 100%
    48: 0%
  • 49: 100%
    49: 0%
  • 50: 100%
    50: 0%
  • 51: 97%
    51: 3%
  • 52: 94%
    52: 6%
  • 53: 91%
    53: 9%
  • 54: 88%
    54: 12%
  • 55: 85%
    55: 15%
  • 56: 81%
    56: 19%
  • 57: 77%
    57: 23%
  • 58: 73%
    58: 27%
  • 59: 69%
    59: 31%
  • 60: 65%
    60: 35%
  • 61: 60%
    61: 40%
  • 62: 55%
    62: 45%
  • 63: 50%
    63: 50%
  • 64: 43%
    64: 57%
  • 65: 36%
    65: 64%
  • 66: 36%
    66: 64%
  • 67: 36%
    67: 64%
  • 68: 36%
    68: 64%
  • 69: 36%
    69: 64%
  • 70 years: 36%
    70 years: 64%
40 70

How much does it cost?

In the investing world, there can be lots of different fees and charges. That makes it difficult to know exactly how much you’re paying – and what you’re really getting for your money. With us, there are two simple charges.

Account charge
Our account charge is 0.30% of the value of your investments per year and is collected monthly. It’s for administration and other services – like keeping a record of your investment and calculating the value of your investment each day.

Annual management charge
We'll make a charge to manage your investments which is reflected in the daily unit price of each fund. It's a simple percentage of the value of your investment – and it'll be no more than 0.45%.

For example, if you had a £100,000 pension pot with us, your account charge will be £300 and your management fee will be no more than £450. That would be £750 in total.

How our fees are collected
When it comes to collecting your fees, we keep this simple too.

There’s no need to make separate payments or keep cash on standby in your account. Everything’s worked out and collected. Clear and simple charges – nice.

Keep in mind that other providers will charge and collect fees differently. Make sure you find what’s right for you.

Virgin Money view

If you want a hands-off, stress-free way to save for retirement, Navigator could be the perfect choice for you.

It’s never too early to start saving for your retirement – so get started today.

Find out more

Your pension is designed for later life. When you save into a pension, the value of your investment could fall and you could get back less money than you put in. You usually can’t access your pension until age 55 (rising to 57 from 6 April 2028). Tax rules can change and depend on your personal circumstances.

This article can give you helpful tips, but it isn’t financial, or tax advice. If you’re not sure if something is right for you, you should speak to an Independent Financial Adviser.

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