Vanguard plans product range expansion ahead of pension freedoms

Vanguard Asset Management is to expand its range of passive products for the retirement market after the introduction of pension freedoms detailed in this year's Budget.

The newly introduced pension freedoms mean that from 6 April, pensioners will be able to sell their annuities and reinvest the cash in other vehicles, while those about to retire will have a wider range of investment choices for their pension pots. Vanguard is planning to take advantage of this, as well as the shift away from defined benefit (DB) to defined contribution (DC) pension schemes in the UK, by launching products that cater to this part of the market. The firm is working on ‘glide path’ investment products, which become more conservative as the investor moves closer to retir...