We have set out some of the main stakeholder requirements below, and also shown how the Virgin Pension meets or beats these standards.
|Stakeholder standards||Virgin standards|
|Ongoing charge||1.5% maximum||Up to 1.0% of the value of your fund|
|Penalty charges for starting, stopping or changing payments||None||None|
|Investment choice||Simple and easy to understand||Simple and easy to understand|
|Lifestyle option||As you near retirement, your investment automatically gets moved into a less volatile fund||As you near retirement, your investment automatically gets moved into a less volatile fund|
|Transfers to other providers||Free||Free|
|Statements||Annual||Twice yearly + 24/7 online|