Stakeholder Standards
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 |
| Other charges | None | None |
| Minimum payment | £20 | £1 |
| 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 |