Virgin Superannuation
From Wikipedia, the free encyclopedia
Virgin Superannuation is a superannuation, or pension fund, offered by Virgin subsidiary Virgin Money.
[edit] In Australia
In Australia, Virgin Superannuation is operated by Macquarie Fund Manager. Unlike many other funds, it does not offer an automatic insurance protection and only offers it as an option.
[edit] Criticism
Amidst the launch of Virgin Superannuation, Virgin Money was criticised for misleading its customers about its claim that it charges lower fees than regular industry superannuation funds. Consumer research by Jeff Bresnahan of SuperRatings, showed that the claim only held true for a small balance of less than $50,000[1].
[edit] References
- ^ Chris Wright, 'Virgin super fees under attack', Australian Financial Review (Sydney), 23 June 2005, p 19
