Nationwide Building Society acquired Virgin Money UK Plc in October 2024, and work has been underway to transfer Virgin Money’s business to Nationwide. Following Court approval on 23 February 2026, Virgin Money’s business is expected to become part of Nationwide on 2 April 2026. After this date, Nationwide Building Society will become the sponsor of the YCB Pension Scheme.

The Trustee continues to work closely with its advisers, the Clydesdale Bank and Nationwide to consider the 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.