Virgin Money: Pensions reviews

Name: Pensions
Rating: 3.89 (18 reviews)

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3.89

Based on 18 reviews, last reviewed 29th Apr 2023

No new 5 star reviews

in the past 90 days

100% increase in 1 star reviews

in the past 90 days

66%

3 star

22%

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:

2

Difficult to withdraw on retirement and limited options What i wanted to do was take the 25% tax free lump sum and transfer the remainder to a lifetime annuity, seems simple enough. First problem they do no... Read more Reviewed on: 29th April 2023

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Virgin Money Pensions reviews (18)

Difficult to withdraw on retirement and limited options

What i wanted to do was take the 25% tax free lump sum and transfer the remainder to a lifetime annuity, seems simple enough. First problem they do not provide annuities. second problem, they changed my chosen retirement date for no reason. I called them to confirm my wishes and inform them I had arranged a annuity with another provider, they said they would send the forms which arrived today, however this form was to take 100% of my fund, rang them again and this time they told me they are unable to send some to me and some to my annuity provider, I either had to take the full amount (which would cost me a small fortune in tax) or transfer the full amount to the annuity provider and ask them for the 25%. Wish I had gone elsewhere. Reviewed on: 29th April 2023

Virgin Stake Holder Pension, not really a Pension

So I have had a Virgin pension since 2002, and now thinking of using it as draw down, guess what you can't. You have to take out all of it, 25% tax free and the remaining 75% with is taxed at a very high rate. which as you can imagine is not good. I am now transferring it to a proper pension provider, which will cost me at least 1% of the value (Pot) if not 3%. :-( Reviewed on: 27th April 2023

Cashier closed my account by accident

I couldn’t believe it when a cashier closed my account by accident. She was listening to what I wanted. She was busy chatting on the phone. I’ve moved my money away from Virgin. Don’t trust them. Reviewed on: 19th November 2022

Nasty customer service

The staff are so bad and rude I’m leaving Virgin Reviewed on: 11th November 2022

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