For years I've been using this markup to insert SKIP LINKS into the body of lengthy pages with lots of sections and internal navigation links:

HTML Code:
<!-- old -->

<div class="skiplink"><a href="#content">Skip navigation</a></div>
The element is styled with a negative text-indent and zero line-height to keep it off the display, and has worked fine all these years. Ain't broke, so why fix it?

I'm taking this site out of the 2005 world (probably more like 2001) into the modern era by swapping in HTML5 semantics with the aim at making it more future friendly. Which brings me to my question:

Is the NAV element okay to contain these page fragment links?
HTML Code:
<!-- new -->

<nav><a href="#credits" class="skiplink">Jump to program and document credits</a></nav>
For IE 8 I had to move the style hook to the anchor.