You can make lump sum contributions to your pension or set up and amend a monthly direct debit. To do this, just give us a call.
You also have the option of transferring in other pensions into your Virgin Money Pension but you need to make sure this is the right thing to do. We strongly recommend you seek financial advice first to fully understand the costs, risks and benefits.
There is no limit to how much you can put in but there are certain limits that may trigger a tax charge.
Each year, most people can contribute, up to the lower of:
- 100% of their salary
The rules are different if:
- You are over 55 and have flexible accessed your pension savings
- You don’t pay income tax
- You earn over £200k
- You already have pensions worth more than £1,073,100
For customers with earnings of more than £200k, your annual allowance is calculated using a sliding scale. Search gov.uk for ‘tapered annual allowance’ for more details.