Retirement Planning Is Revolutionized by Virgin Money’s New FNZ-Backed Pension Product

Virgin Money, a prominent player in the financial services industry, has taken a significant step towards simplifying retirement planning with the introduction of its innovative pension product, as highlighted in Fintech Global News. This move not only reinforces the company’s digital platform but also deepens its collaboration with FNZ, a leader in wealth management solutions.

This groundbreaking pension product is the result of Virgin Money’s ongoing efforts to streamline retirement planning for individuals. In April 2023, the company joined forces with FNZ to develop a digital solution tailored specifically for UK retail investors. The primary objective was to demystify the complexities of investments, making them more transparent and accessible to all.

The newly unveiled pension product offers two distinct options: Navigator and Self Drive. These choices are designed to empower customers, equipping them with the tools necessary to manage their finances effectively and plan for a comfortable retirement. The underlying philosophy centers on simplicity and clarity, enabling customers to make well-informed decisions about their financial future.

One noteworthy feature of this pension offering is its capability to consolidate existing pensions. Customers can effortlessly transfer their current pension plans into the Virgin Money pension scheme. This streamlines the process and provides a consolidated view of potential retirement income, making management and planning more convenient within a single comprehensive platform.

Jonathan Byrne, CEO of Virgin Money Investments, highlighted the advantages of this new pension scheme, stating, «We’re thrilled to introduce this new pension proposition, which instills confidence in our customers as they plan for a brighter retirement and regain control over their finances. Preparing for the future should be straightforward, and that’s precisely why we designed our new pension product – to simplify the path to financial security.»

Furthermore, Byrne elaborated on the selection of FNZ as their partner, praising their state-of-the-art technology, proven track record in delivering market-leading direct-to-consumer propositions, expertise in managing complex platform implementations, and their ability to provide innovative end-to-end digital experiences across various channels.

Alastair Conway, CEO of FNZ for the UK, Middle East, and Africa, expressed enthusiasm about the partnership, saying, «We are excited to collaborate with Virgin Money on the launch of this new pension offering. Our partnership underscores our joint commitment to revolutionizing wealth management, making it accessible to everyone, everywhere, and allowing individuals to invest in their future on their terms.»