Virgin Money Stakeholder Pension Free for a Year offer introduced

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Virgin Money Stakeholder Pension Free for a Year offer introduced

Thu 9th Feb 2006

A Virgin Money Stakeholder Pension Free for a Year offer has been launched.

The offer is available to anyone who takes up a pension before May 10th 2006 and makes a minimum gross payment of £1200 in their initial year.

If customers qualify for the offer they will not have to pay the standard annual management charge for the first 12 months of their pension.

This offer comes following research conducted by Virgin Money claiming that over 8 million workers are still neglecting to make pension contributions.

Chairman of Virgin Money Sir Richard Branson said: "Stakeholder pensions make it very easy for people to start saving for their retirement and yet millions still aren't saving anything at all."

Virgin Money claims that this offer is intended to spur people into making contributions in order to avoid falling into "pensioner poverty" when they retire.

The Virgin Money Stakeholder Pension Free for a Year offer will be available from February 10th 2006.

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