Nationwide Building Society acquired Virgin Money UK Plc on 1 October 2024, and work has been underway to transfer Virgin Money’s business to Nationwide. We're now waiting for February 2026, when the High Court is due to decide if the transfer can be completed.

If it goes ahead as planned, the final transfer will take place on 2 April 2026. Nationwide Building Society will then become the sponsor of the YCB Pension Scheme. The Trustee is working closely with its advisers, the Clydesdale Bank, and Nationwide to consider this change and any potential impact on the Scheme.

Your pension benefits will not be affected by the transfer and there will be no change in the way we run the YCB Pension Scheme day-to-day.

There's nothing you need to do. Rest assured, we will be in touch if there are any other changes that you should know about.