Form 497VPU VARIABLE ANNUITY ACCOUNT

April 30, 2026 6:13 AM EDT
VOYA RETIREMENT INSURANCE AND ANNUITY COMPANY


VOYA PENSION IRA
INDIVIDUAL DEFERRED FIXED AND VARIABLE ANNUITY CONTRACT
(THE “CONTRACT” OR “CONTRACTS”)

issued to
Individual Retirement Annuities under Section 408(b),
Roth Individual Retirement Annuities under Section 408A, and
Simplified Employee Pension Plans under Section 408(k)


UPDATING SUMMARY PROSPECTUS
May 1, 2026
____________________________________________________________________________
The individual deferred fixed and variable annuity contract is described in this updating summary prospectus (“summary prospectus”). The Installment Purchase Payment class of Contract accepts ongoing, or installment, Purchase Payments. The Single Purchase Payment class of Contract accepted a lump-sum transfer of amounts accumulated under a pre-existing plan. The Contract is no longer available for new sales. The existing Contract will continue to accept additional Purchase Payments subject to the terms of each Contract.

The full prospectus for the Contract contains more information about the Contract, including the features, benefits, and risks. You can find the current prospectus and other information about the Contract online at https://prospectus.voya.com/IRA84. You can also obtain this information at no cost by calling 1-800-584-6001 or by sending an email request to [email protected].

Additional general information about certain investment products, including variable annuities, has been prepared by the Securities and Exchange Commission’s staff and is available at https://www.Investor.gov.

If a participant elects to deduct from the participant’s account advisory fees due under an independent advisory services agreement between the participant and an investment adviser, then such deductions will reduce the death benefit payable under the participant’s certificate and also may be subject to federal and state income taxes and a 10% federal penalty tax.

The U. S. Securities and Exchange Commission (the “SEC”) has not approved or disapproved this Contract or passed upon the adequacy of this summary prospectus. Any representation to the contrary is a criminal offense.


TABLE OF CONTENTS




SPECIAL TERMS USED IN THIS SUMMARY PROSPECTUS
The following are some of the important terms used throughout this summary prospectus that have special meaning.

Account Value:  The value of:  (1) amounts allocated to the Fixed Interest Options, including interest earnings to date; less (2) any deductions from the Fixed Interest Options (e.g., withdrawals and fees); and plus (3) the current dollar value of amounts allocated to the Subaccounts of Variable Annuity Account C, which includes investment performance and fees deducted from the Subaccounts.

Contract or Contracts:  The individual deferred fixed and variable annuity Contract issued to you, the Contract Holder.

Customer Service:  The location from which we service the Contracts. The mailing address and telephone number of Customer Service is Defined Contributions Administration, P.O. Box 990063, Hartford, CT 06199-0063, 1-800-584-6001.

Fixed Interest Options:  The Guaranteed Accumulation Account, the Guaranteed Interest Account and the Fixed Account are Fixed Interest Options that may be available during the Accumulation Phase under some Contracts. Amounts allocated to the Guaranteed Accumulation Account and the Guaranteed Interest Account are deposited in a nonunitized separate account established by the Company. Amounts allocated to the Fixed Interest Options are held in the Company’s General Account which supports insurance and annuity obligations.

Fund(s):  The underlying mutual Funds in which the Subaccounts invest.

General Account:  The account that contains all of our assets other than those held in Variable Annuity Account C or one of our other separate accounts.

Installment Purchase Payment Contracts:  Under these Contracts, you agree to make continuing Purchase Payments each year.

Investor (also “you” or “Contract Holder”):  The individual to whom we issued the Contract as either a traditional Individual Retirement Annuity under Tax Code Section 408(b) or as a Roth IRA under Tax Code Section 408A. We may also refer to the Contract Holder as the Contract Owner.

Single Purchase Payment Contracts:  Under these Contracts you made a lump-sum transfer of amounts accumulated under a pre-existing plan in accordance with out procedures and minimums in effect at the time of purchase.

Subaccount:  Division(s) of Variable Annuity Account C that are investment options under the Contract. Each Subaccount invests in a corresponding underlying mutual Fund.

Tax Code:  The Internal Revenue Code of 1986, as amended.

VRIAC, the Company, we, us and our:  Voya Retirement Insurance and Annuity Company, a stock company domiciled in Connecticut, that issues the Contract described in this summary prospectus.

Variable Annuity Account C, the Separate Account: Voya Variable Annuity Account C, a segregated asset account established by us to fund the variable benefits provided by the Contract. The Variable Annuity Account C is registered as a unit investment trust under the Investment Company Act of 1940, as amended, and it also meets the definition of “separate account” under the federal securities laws.

Variable Investment Options:  The Subaccounts of Variable Annuity Account C. Each one invests in a specific mutual Fund.



UPDATED INFORMATION ABOUT YOUR CONTRACT

The information in this summary prospectus is a summary of certain Contract features that have changed since May 1, 2025. This may not reflect all of the changes that have occurred since you entered into your Contract.

•
Investment Options


IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE CONTRACT

FEES AND EXPENSES
Charges for Early Withdrawals
If the Investor withdraws money from the Contract within ten (10) completed Purchase Payment Periods, the Investor can be assessed an early withdrawal charge equal to a maximum of 5% of the amount withdrawn. The specified maximum percentage referenced in the preceding sentence applies to withdrawals from Installment Purchase Payment Contracts and the withdrawal charge schedule that applies to that account, but it will never exceed 8.50% of total Purchase Payments.
 
For example, if you make an early withdrawal from an Installment Purchase Payment Contract, you could pay a surrender charge of up to $5,000 on a $100,000 investment.
 
Please also note that withdrawals from the Guaranteed Accumulation Account are subject to a Market Value Adjustment, which can be either positive or negative (see Appendix B to the full Contract prospectus).
 
See “FEE TABLE - Transaction Expenses” and “CHARGES AND FEES - Transaction Fees - Early Withdrawal Charge” in the full Contract Prospectus.
Transaction Charges
In addition to the early withdrawal charge, the Investor may also be charged for other transactions:
• For transferring or reallocating Account Value among the investment options;
• Certain Funds may impose redemption fees as a result of withdrawals, transfers or other Fund transactions you may initiate; and
• Charges for advisory services due to an independent advisory services agreement between you and an investment advisor may be deducted from Contract value.
 
See “FEE TABLE - Transaction Expenses” and “CHARGES AND FEES - Transaction Fees” in the full Contract Prospectus.


FEES AND EXPENSES
(continued from previous page)
Ongoing Fees and Expenses (annual charges)
The table below describes the fees and expenses that you may pay each year, depending on the options you choose. Please refer to your Contract specifications page for information about the specific fees you will pay each year based on the options you have elected. These ongoing fees and expenses do not reflect any advisory fees due under an independent advisory services agreement with a participant, and if such charges were reflected, these ongoing fees and expenses would be higher.
Annual Fee
Minimum
Maximum
Base Contract Expenses
1.25%1, 2
% 1, 2
Investment options
(Portfolio company fees and expenses)
0.34%3
1.25%3
Because your Contract is customizable, the choices you make affect how much you will pay. To help you understand the cost of owning your Contract, the following table shows the lowest and highest cost you could pay each year based on current charges. This estimate assumes that you do not take withdrawals from the Contract, which could add early withdrawal charges that substantially increase costs.
 
Lowest Annual Cost Estimate:
$2,380
Highest Annual Cost Estimate:
$5,647
Assumes:
• Investment of $100,000;
• 5% annual appreciation;
• No optional benefits;
• Fees and expenses of least expensive Fund;
• No sales charges or advisory fees; and
• No additional Purchase Payments, transfers or withdrawals.
Assumes:
• Investment of $100,000;
• 5% annual appreciation;
• Fees and expenses of the most expensive Fund;
• No sales charges or advisory fees; and
• No additional Purchase Payments, transfers or withdrawals.
 
See “FEE TABLE - Periodic Fees and Expenses” and “CHARGES AND FEES - Periodic Fees and Charges” in the full Contract Prospectus.
RISKS
Risk of Loss
An Investor can lose money by investing in the Contract.
 
See “PRINCIPAL RISKS OF INVESTING IN THE CONTRACT” in the full Contract Prospectus.



1 As a percentage of average Account Value.
2 The Base Contract Expenses include (1) the mortality and expense risk charge of $1.25, which compensates us for the mortality and expense risks we assume under the Contract, including those risks associated with our promise to make lifetime Income Phase payments; and; (2) a $20 annual maintenance fee converted to an annual percentage equal to -%. The annual maintenance fee may be reduced or eliminated in certain circumstances. The minimum amount reflects this reduction or elimination, while the maximum amount does not. Additionally, we currently do not impose the administrative expense charge, although we reserve the right to do so. The maximum amount includes the 0.25% administrative expense charge, while the minimum amount does not. See “CHARGES AND FEES - Periodic Fees and Charges” in the full Contract Prospectus.
3 These expenses, which include management fees, distribution (12b-1) and/or service fees and other expenses, do not take into account any fee waiver or expense reimbursement arrangements that may apply. These expenses are for the year ended December 31, 2023, and will vary from year to year.

RISKS
(continued from previous page)
Not a Short-Term Investment
This Contract is not designed for short-term investing and is not appropriate for an Investor who needs ready access to cash. The Contract is typically most useful as part of a personal retirement plan. Early withdrawals may be restricted by the Tax Code or your plan and may expose you to early withdrawal charges or tax penalties. You should not participate in this Contract if you are looking for a short-term investment or expect to make withdrawals before you are age 59½.
 
See “PRINCIPAL RISKS OF INVESTING IN THE CONTRACT” in the full Contract Prospectus.
Risks Associated with Investment Options
An investment in the Contract is subject to the risk of poor investment performance and can vary depending on the performance of the investment options available under the Contract. Each investment option (including the Guaranteed Accumulation Account and the other Fixed Interest Options) will have its own unique risks, and you should review these investment options before making an investment decision. If all or a portion of your Account Value in the Guaranteed Accumulation Account is withdrawn, you could experience a loss as to the amount invested in that account.
 
See ‘THE INVESTMENT OPTIONS - The Variable Investment Options” and APPENDIX A, APPENDIX B, APPENDIX C and APPENDIX D in the full Contract Prospectus and “APPENDIX:  FUNDS AVAILABLE UNDER THE CONTRACT” to this summary prospectus.
Insurance Company Risks
An investment in the Contract is subject to the risks related to VRIAC, including that any obligations, including under the Fixed Interest Options, guarantees or benefits are subject to the financial strength and claims-paying ability of VRIAC. More information about VRIAC, including its financial strength and claims paying ability, is available upon request, by contacting Customer Service at 1-800-584-6001.
 
See “THE CONTRACT - The General Account” in the full Contract Prospectus.
RESTRICTIONS
Investment Options
• Some Subaccounts and Fixed Interest Options may not be available through certain Contracts, your plan or in some states. See your Contract or certificate for any state specific variations;
• Not all Fixed Interest Options may be available for current or future investment;
• There are certain restrictions on transfers from the Fixed Interest Options;
• The Company reserves the right to combine two or more Subaccounts, close Subaccounts or substitute a new Fund for a Fund in which a Subaccount currently invests; and
• The Contract is not designed to serve as a vehicle for frequent transfers. We actively monitor Fund transfer and reallocation activity to identify violations of our Excessive Trading Policy. Electronic trading privileges will be suspended if the Company determines, in its sole discretion, that our Excessive Trading Policy has been violated.
 
See “THE INVESTMENT OPTIONS - Selecting Investment Options and Right to Change the Separate Account” and “THE CONTRACT - Limits on Frequent or Disruptive Transfers” in the full Contract Prospectus.
Optional Benefits
• We may discontinue or restrict the availability of an optional benefit;
• Benefits available to you may vary based on employer and state approval. Participants should refer to their plan documents for available benefits; and
• If a participant elects to pay advisory fees from the Variable Investment Options, such deductions will reduce the death benefit amount and also may be subject to federal and state income taxes and a 10% federal tax penalty.
 
See “SYSTEMATIC DISTRIBUTION OPTIONS - Availability of Systematic Distribution Options” in the full Contract Prospectus.


TAXES
Tax Implications
• You should consult with a tax and/or legal adviser to determine the tax implications of an investment in, and distributions received under, the Contract;
• There is no additional tax benefit to the Investor if the Contract is purchased through a tax-qualified plan or individual retirement account (“IRA”); and
• Withdrawals will be subject to ordinary income tax and may be subject to tax penalties.
 
See “FEDERAL TAX CONSIDERATIONS” in the full Contract Prospectus.
CONFLICTS OF INTEREST
Investment Professional Compensation
Although the Contracts are no longer offered for new sales, firms and their registered representatives that sold the Contract may receive commissions on additional Purchase Payments paid. This compensation is not paid directly by Contract Holders or the Separate Account. This compensation could influence your investment professional to recommend keeping the Contract.
 
See “OTHER TOPICS - Contract Distribution” in the full Contract Prospectus.
Exchanges
Some investment professionals may have a financial incentive to offer you a new contract in place of the one you own. You should exchange your Contract only if you determine, after comparing the features, fees and risks of both contracts, that it is preferable for you to purchase the new contract rather than continue to own the existing Contract.
 
See “PRINCIPAL RISKS OF INVESTING IN THE CONTRACT” in the full Contract Prospectus.


APPENDIX:  FUNDS AVAILABLE UNDER THE CONTRACT

The following is a list of Funds available under the Contract. The Funds available to you may vary based on employer and state approval and participant should refer to their plan documents for a list of available Funds.

More information about the Funds is available in the prospectuses for the Funds, which may be amended from time to time and can be found online at https://vpx.broadridge.com/getcontract1.asp?dtype=pros&cid=voyavpx&fid=NRVA01951.. You can also request this information at no cost by calling Customer Service at 1-800-584-6001 or by sending an email request to [email protected].

The current expenses and performance information below reflects fee and expenses of the Funds, but do not reflect the other fees and expenses that your Contract may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Fund’s past performance is not necessarily an indication of future performance.

INVESTMENT OBJECTIVE
FUND NAME
INVESTMENT ADVISER/SUBADVISER
CURRENT EXPENSES*
AVERAGE ANNUAL TOTAL RETURNS
(as of 12/31/2025)
1 Year
5 Years
10 Years


INVESTMENT OBJECTIVE
FUND NAME
INVESTMENT ADVISER/SUBADVISER
CURRENT EXPENSES*
AVERAGE ANNUAL TOTAL RETURNS
(as of 12/31/2023)
1 Year
5 Years
10 Years


INVESTMENT OBJECTIVE
FUND NAME
INVESTMENT ADVISER/SUBADVISER
CURRENT EXPENSES*
AVERAGE ANNUAL TOTAL RETURNS
(as of 12/31/2023)
1 Year
5 Years
10 Years

INVESTMENT OBJECTIVE
FUND NAME
INVESTMENT ADVISER/SUBADVISER
CURRENT EXPENSES*
AVERAGE ANNUAL TOTAL RETURNS
(as of 12/31/2023)
1 Year
5 Years
10 Years



INVESTMENT OBJECTIVE
FUND NAME
INVESTMENT ADVISER/SUBADVISER
CURRENT EXPENSES*
AVERAGE ANNUAL TOTAL RETURNS
(as of 12/31/2023)
1 Year
5 Years
10 Years





INVESTMENT OBJECTIVE
FUND NAME
INVESTMENT ADVISER/SUBADVISER
CURRENT EXPENSES*
AVERAGE ANNUAL TOTAL RETURNS
(as of 12/31/2023)
1 Year
5 Years
10 Years


INVESTMENT OBJECTIVE
FUND NAME
INVESTMENT ADVISER/SUBADVISER
CURRENT EXPENSES*
AVERAGE ANNUAL TOTAL RETURNS
(as of 12/31/2023)
1 Year
5 Years
10 Years




INVESTMENT OBJECTIVE
FUND NAME
INVESTMENT ADVISER/SUBADVISER
CURRENT EXPENSES*
AVERAGE ANNUAL TOTAL RETURNS
(as of 12/31/2023)
1 Year
5 Years
10 Years


INVESTMENT OBJECTIVE
FUND NAME
INVESTMENT ADVISER/SUBADVISER
CURRENT EXPENSES*
AVERAGE ANNUAL TOTAL RETURNS
(as of 12/31/2023)
1 Year
5 Years
10 Years





INVESTMENT OBJECTIVE
FUND NAME
INVESTMENT ADVISER/SUBADVISER
CURRENT EXPENSES*
AVERAGE ANNUAL TOTAL RETURNS
(as of 12/31/2023)
1 Year
5 Years
10 Years


INVESTMENT OBJECTIVE
FUND NAME
INVESTMENT ADVISER/SUBADVISER
CURRENT EXPENSES*
AVERAGE ANNUAL TOTAL RETURNS
(as of 12/31/2023)
1 Year
5 Years
10 Years




INVESTMENT OBJECTIVE
FUND NAME
INVESTMENT ADVISER/SUBADVISER
CURRENT EXPENSES*
AVERAGE ANNUAL TOTAL RETURNS
(as of 12/31/2023)
1 Year
5 Years
10 Years




 
INVESTMENT OBJECTIVE
FUND NAME
INVESTMENT ADVISER/SUBADVISER
CURRENT EXPENSES*
AVERAGE ANNUAL TOTAL RETURNS
(as of 12/31/2025)
1 Year
5 Years
10 Years
Seeks long-term growth of capital.
AB VPS Relative Value Portfolio (Class A)
 
Investment Adviser:
AllianceBernstein, L.P.
 
0.59%
10.47%
11.42%
10.57%
Seeks to provide a competitive total return through an actively managed portfolio of stocks, bonds and money market instruments which offer income and capital growth opportunity.
Calvert VP SRI Balanced Portfolio (Class I)
 
Investment Adviser:
Calvert Research and Management
0.65%
11.48%
8.68%
9.81%
Seeks long-term capital appreciation.
Columbia Variable Portfolio - Acorn Fund
 
Investment Adviser:
Columbia Wanger Asset Management, LLC
0.95%
14.18%
4.58%
8.12%
Seeks long-term capital appreciation.
Fidelity® VIP ContrafundSM Portfolio
(Initial Class)
 
Investment Adviser:
Fidelity Management & Research Company LLC (“FMR”)
 
Subadvisers:  FMR Investment Management (UK) Limited, Fidelity Management & Research (Hong Kong) Limited and Fidelity Management & Research (Japan) Limited
0.54%
21.52%
15.37%
15.78%
Seeks reasonable income. Also considers the potential for capital appreciation. Seeks to achieve a yield which exceeds the composite yield on the securities comprising the S&P 500® Index.
Fidelity® VIP Equity-Income PortfolioSM (Initial Class)
 
Investment Adviser:  Fidelity Management & Research Company LLC (“FMR”)
 
Subadvisers:  FMR Investment Management (UK) Limited, Fidelity Management & Research (Hong Kong) Limited and Fidelity Management & Research (Japan) Limited
0.46%
19.02%
12.51%
11.60%
Seeks to achieve capital appreciation.
Fidelity® VIP Growth Portfolio (Initial class)
 
Investment Adviser:  Fidelity Management & Research Company LLC (“FMR”)
 
Subadvisers:  FMR Investment Management (UK) Limited, Fidelity Management & Research (Hong Kong) Limited and Fidelity Management & Research (Japan) Limited
0.55%
14.92%
13.70%
17.45%
Seeks long-term growth of capital.
Fidelity® VIP Overseas Portfolio
(Initial Class)
 
Investment Adviser:  Fidelity Management & Research Company LLC (“FMR”)
 
Subadvisers:  FMR Investment Management (UK) Limited, Fidelity Management & Research (Hong Kong) Limited, Fidelity Management & Research (Japan) Limited, FIL Investment Advisors, FIL Investment Advisors (UK) and FIL Investments (Japan) Limited
0.72%
20.39%
6.62%
7.93%
Seeks long-term total return. Under normal market conditions, the Fund invests at least 80% of its net assets in investments of small-capitalization companies.
Franklin Small Cap Value VIP Fund4
(Class 2)
 
Investment Adviser:  Franklin Mutual Advisers, LLC
0.92%
7.65%
8.86%
9.81%
A non-diversified Fund that seeks capital growth.
Invesco V.I. American Franchise Fund (Series I)
 
Investment Adviser:  Invesco Advisers, Inc.
0.85%
11.67%
10.35%
14.87%
Seeks long-term growth of capital.
Invesco V.I. Core Equity Fund (Series I)
 
Investment Adviser:  Invesco Advisers, Inc.
0.80%
16.17%
12.81%
11.73%
Seeks total return.
Invesco V.I. Main Street Small Cap Fund® (Series I)
 
Investment Adviser:  Invesco Advisers, Inc.
0.84%
8.70%
8.34%
10.59%
Seeks to deliver long-term growth of capital by investing primarily in stocks of mid-sized U.S. companies.
Lord Abbett Series Fund, Inc. – Mid Cap Stock Portfolio (Class VC)
 
Investment Adviser:  Lord, Abbett & Co. LLC
1.14%
7.05%
10.16%
7.98%
Seeks maximum real return, consistent with preservation of real capital and prudent investment management.
PIMCO Real Return Portfolio (Administrative Class)
 
Investment Adviser:  Pacific Investment Management Company LLC
1.39%
7.85%
1.21%
3.21%
Maximize total return through a combination of income and capital appreciation.
Victory Pioneer High Yield VCT Portfolio (Class I)
 
Investment Adviser:  Amundi Asset Management US, Inc.
0.90%
8.16%
4.21%
5.49%
Seeks long-term capital growth and current income.
Voya Global High Dividend Low Volatility Portfolio (Class I)5
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser:  Voya Investment Management Co. LLC
0.61%
19.00%
10.52%
9.05%
Seeks to provide high current return, consistent with preservation of capital and liquidity.
 Voya Government Liquid Assets Portfolio (Class I)
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser:  Voya Investment Management Co. LLC
0.28%
4.15%
3.12%
2.03%
Seeks to maximize total return through investments in a diversified portfolio of common stock and securities convertible into common stocks. It is anticipated that capital appreciation and investment income will both be major factors in achieving total return.
Voya Growth and Income Portfolio (Class I)
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser:  Voya Investment Management Co. LLC
0.67%
18.21%
15.46%
14.62%
Seeks to provide Investors with a high level of current income and total return.
Voya High Yield Portfolio (Class I)
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser:  Voya Investment Management Co. LLC
0.48%
8.80%
3.92%
5.82%
Seeks to outperform the total return performance of the S&P 500® Index while maintaining a market level of risk.
Voya Index Plus LargeCap Portfolio (Class I)
 
Investment Adviser:  Voya Investments, LLC
Subadviser:  Voya Investment Management Co. LLC
0.55%
15.20%
13.73%
13.90%
Seeks to outperform the total return performance of the S&P MidCap 400® Index while maintaining a market level of risk.
Voya Index Plus MidCap Portfolio (Class I)
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser:  Voya Investment Management Co. LLC
0.60%
8.16%
9.90%
9.75%
Seeks to outperform the total return performance of the S&P SmallCap 600® Index while maintaining a market level of risk.
Voya Index Plus SmallCap Portfolio (Class I)
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser:  Voya Investment Management Co. LLC
0.60%
8.27%
8.97%
9.23%
Seeks to maximize total return consistent with reasonable risk. The Portfolio seeks its objective through investments in a diversified portfolio consisting primarily of debt securities. It is anticipated that capital appreciation and investment income will both be major factors in achieving total return.
Voya Intermediate Bond Portfolio (Class I)
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser:  Voya Investment Management Co. LLC
0.53%
7.71%
0.15%
2.66%
Seeks investment results (before fees and expenses) that correspond to the total return (which includes capital appreciation and income) of a widely accepted international index.
Voya International Index Portfolio (Class I)
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser:  Voya Investment Management Co. LLC
0.46%
30.89%
8.50%
7.91%
A non-diversified Fund that seeks long-term capital growth.
Voya Large Cap Growth Portfolio (Class I)
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser:  Voya Investment Management Co. LLC
0.67%
15.33%
12.23%
15.19%
Seeks a high level of total return (consisting of capital appreciation and income) consistent with a level of risk that can be expected to be greater than that of Voya Retirement Conservative Portfolio but less than that of Voya Retirement Moderate Growth Portfolio.
Voya Retirement Moderate Portfolio (Class I)
 
Investment Adviser: Voya Investments, LLC
 
Subadviser:  Voya Investment Management Co. LLC
0.32%
12.09%
4.86%
6.64%
Seeks investment results (before fees and expenses) that correspond to the total return (which includes capital appreciation and income) of the Russell Top 200® Growth Index.
Voya RussellTM Large Cap Growth Index Portfolio (Class I)
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser:  Voya Investment Management Co. LLC
0.43%
18.12%
16.24%
18.65%
Seeks investment results (before fees and expenses) that correspond to the total return (which includes capital appreciation and income) of the Russell Top 200® Value Index.
Voya RussellTM Large Cap Value Index Portfolio (Class I)
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser:  Voya Investment Management Co. LLC
0.43%
17.94%
11.69%
10.53%
Seeks investment results (before fees and expenses) that correspond to the total return (which includes capital appreciation and income) of the Russell Midcap® Index (“Index”).
Voya RussellTM Mid Cap Index Portfolio (Class S)
 
Investment Adviser: Voya Investments, LLC
 
Subadviser: Voya Investment Management Co. LLC
0.65%
9.92%
8.00%
10.32%
Until the day prior to its Target Date, the Portfolio seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2035. On the Target Date, the Portfolio’s investment objective will be to seek to provide a combination of total return and stability of principal consistent with an asset allocation targeted to retirement.
Voya Solution 2035 Portfolio (Class S)13
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser:  Voya Investment Management Co. LLC
0.49%
16.05%
7.22%
8.68%
Until the day prior to its Target Date, the Portfolio seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2045. On the Target Date, the Portfolio’s investment objective will be to seek to provide a combination of total return and stability of principal consistent with an asset allocation targeted to retirement.
Voya Solution 2045 Portfolio (Class S)13
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser:  Voya Investment Management Co. LLC
0.47%
19.15%
9.07%
9.92%
Seeks to provide a combination of total return and stability of principal consistent with an asset allocation targeted to retirement.
Voya Solution Income Portfolio (Class S) 6
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser:  Voya Investment Management Co. LLC
0.52%
10.94%
3.33%
5.15%
Seeks to provide a combination of total return and stability of principal consistent with an asset allocation targeted to retirement.
Voya Solution Conservative Portfolio (Class I)
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser:  Voya Investment Management Co. LLC
0.26%
8.33%
2.97%
4.77%
Seeks growth of capital.
Voya Solution Aggressive Portfolio (Class I)
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser:  Voya Investment Management Co. LLC
0.22%
16.87%
9.89%
10.55%
Seeks to provide capital growth through a diversified asset allocation strategy.
Voya Solution Balanced Portfolio (Class I)
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser:  Voya Investment Management Co. LLC
0.28%
13.05%
6.84%
8.04%
Seeks investment results (before fees and expenses) that correspond to the total return (which includes capital appreciation and income) of the Bloomberg U.S. Aggregate Bond Index (“Index”).
Voya U.S. Bond Index Portfolio (Class I)
 
Investment Adviser: Voya Investments, LLC
 
Subadviser: Voya Investment Management Co. LLC
0.36%
6.70%
-0.75%
1.64%
Seeks high total return consisting of capital appreciation and current income.
VY® CBRE Global Real Estate Portfolio (Class I)
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser:  CBRE Clarion Securities LLC
0.91%
6.82%
4.03%
3.99%
Seeks total return including capital appreciation and current income.
VY® CBRE Real Estate Portfolio (Class S)
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser: CBRE Clarion Securities LLC
1.16%
6.53%
3.77%
3.73%
Seeks capital growth and income.
VY® Invesco Comstock Portfolio (Class S)
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser: Invesco Advisers, Inc.
0.95%
17.02%
14.95%
11.75%
Seeks total return consisting of long-term capital appreciation and current income.
VY® Invesco Equity and Income Portfolio (Class I)
 
Investment Adviser:  Voya Investments, LLC
 
Subadviser: Invesco Advisers, Inc.
0.64%
12.80%
8.82%
8.86%

*
Operational Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.
7
The Franklin Small Cap Value VIP Fund is closed to investment by new Investors. Existing retirement plans and individual Investors who have investment in the Subaccount that corresponds to this fund may leave their investment in that Subaccount and may continue to make additional purchases and exchanges.
2
Effective April 1, 2025, the Pioneer High Yield VCT Portfolio is renamed Victory Pioneer High Yield VCT Portfolio
3
This Fund employs a managed volatility strategy. See “THE INVESTMENT OPTIONS – The Variable Investment Options - Funds with Managed Volatility Strategies” for more information.
4
Effective March 20, 2026, the Voya Government Money Market Portfolio merged with the Voya Government Liqud Assets Portfolio. All funds from the Voya Government Money Market Portfolio have been placed in the Voya Government Liqud Assets Portfolio.
5
Effective March 20,2026, the Voya Balanced Income Portfolio merged with the Voya Retirement Moderate Portfolio. All funds from the Voya Balanced Income Portfolio have been placed in the Voya Retirement Moderate Portfolio.
6
Effective March 20, 2026, the VY Baron Growth Portfolio merged with the Voya RussellTM Mid Cap Index Portfolio. All funds from the VY Baron Growth Portfolio have been placed in the Voya RussellTM Mid Cap Index Portfolio.
7
Effective August 8, 2025, the Voya Solution 2025 Portfolio merged with the Voya Solution Income Portfolio. All funds from the Voya Solution 2025 Portfolio have been placed in the Voya Solution Income Portfolio.
8
Effective March 20, 2026, the Voya Global Bond Portfolio merged with the Voya U.S. Bond Index Portfolio. All funds from the Voya Global Bond Portfolio have been placed in the Voya U.S. Bond Index Portfolio.
9
Effective January 1, 2026, the Voya Global Insights Portfolio merged with Voya Global High Dividend Low Volatility Portfolio. All funds from the Voya Global Insights Portfolio have been placed in the Voya Global High Dividend Low Volatility Portfolio.
10
Effective November 21, 2025, the VY T. Rowe Price Growth Equity Portfolio merged with the Voya Large Cap Growth Portfolio. All funds from the VY T. Rowe Price Growth Equity Portfolio have been placed in the Voya Large Cap Growth Portfolio.
11
Effective June 2, 2025, Wanger Acorn merged with Columbia Variable Portfolio – Acorn Fund. All funds from Wanger Acorn have been placed in the Columbia Variable Portfolio – Acorn Fund.
USP.75992-264 1


HOW TO GET MORE INFORMATION

This summary prospectus incorporates by reference the full Voya Pension IRA Contract prospectus and Statement of Additional Information (“SAI”), each dated May 1, 20264, as amended or supplemented. You can find these documents online at https://vpx.broadridge.com/getcontract1.asp?dtype=pros&cid=voyavpx&fid=NRVA01951 for the statutory prospectus and https://vpx.broadridge.com/getcontract1.asp?dtype=sai&cid=voyavpx&fid=NRVA01951 for the SAI. You can also obtain these documents at no cost by calling 1-800-584-6001 or by sending an email request to [email protected].

Copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: [email protected].

EDGAR Contract Identifier:  C000008332


USP.75992-264 1

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