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Virgin Money: Pensions reviews

Name: Pensions
Rating: 3.26 (23 reviews)

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3.26

Based on 23 reviews, last reviewed 18th Mar 2024

No new 5 star reviews

in the past 90 days

100% increase in 1 star reviews

in the past 90 days

53%

3 star

39%

Latest highest rating:

4

Very helpful Very helpful staff. I have had to change my payments regularly and this has always been sorted efficiently Reviewed on: 16th April 2019

Latest lowest rating:

1

customer service is awful. customer service is awful. Im trying o withdraw my Pension fund and have to wait at least 15 mins on hold to speak to anyone. The last time was 29 min... Read more Reviewed on: 18th March 2024

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About the Pensions

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Virgin Money Pensions reviews (23)

customer service is awful.

customer service is awful. Im trying o withdraw my Pension fund and have to wait at least 15 mins on hold to speak to anyone. The last time was 29 mins, no apology and whats worse they cannot give me any information? Reviewed on: 18th March 2024

Really, DO NOTUSE FOR PENSIONS

Really, NOT customer focused, abysmal, does not know left hand from right Reviewed on: 15th March 2024

Truly awful. AVOID at all costs! It's a CON!!

My mother put in 1k sterling in 1996 into the virgin stakeholder pension scheme. Well 27 years later she reached retirement age so want to say what all that money all them years ago got her.... Not much is the honest answer!! She end up with a little of 3k minus minus taxes and she ended up with 2925 sterling!!!! What a joke. Think about the value of things 27 years ago compared to now... She would of been better off investing her money elsewhere... And to top it all off, she's been trying to get her pitiful investment out for 6 MONTHS!!! The whole system is a total JOKE!!! AVOID the virgin stakeholder pension scheme at all costs, it's a complete and utter CON!!!! Oh and f&#k you mr Branson!!!! Reviewed on: 15th December 2023

Virgin pension fund is all hype no substance

I chose virgin thinking Sir Rich's would provide a fair service in the confusing mess of the pension world. But it doesn't match the hype (ditto for it phone and internet services I used to use). After 5 years I wanted to drawdown form the stakeholder pension, as I could in my much older pension with another provider. Turns out my fund in virgin can only be transferred to another fund to be drawn down or as an annuity. The virgin pension web site and brochure brag how modern its pensions are, and provides great options and services since the pension reforms. This is not true. The other option is to withdraw the lot in one go and get taxed heavily. Sure 25% is tax free, but the rest will be taxed at 40%, as it's based on the annual tax, and is added to other income. Reviewed on: 12th October 2023

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