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Vanguard Launches New Pension Fund in the United Kingdom
Vanguard is going to launch the cheapest pension fund in the UK – it will shock the UK private pension market.
Vanguard has been preparing the new financial product (the Vanguard SIPP) for more than 2 years. The Vanguard personal pension will be available at the beginning of 2020.
With the help of the Vanguard SIPP, investors can access the 76 funds and ETFs available on the Vanguard Personal Investor platform including Vanguard Target Retirement Funds and the popular Life Strategy range.
A self-investing personal pension (SIPP) will have an annual administrative fee in the amount of 0.15% and limited to £375. This is well below the industry average of 0.35%.
You will be able to invest at least £100 per month on a regular savings plan or a lump sum of at least £500.
“The Vanguard Personal Pension is designed to reduce the cost and complexity of saving for retirement. An individual's savings often represent a lifetime's effort, yet many investors and retirees continue to be charged far too much on the proceeds of their own hard work. Fees can have a sizeable impact on investment returns, and consequently on the quality of life in retirement.”
Sean Hagerty, Head of Europe at Vanguard
Read detailed Vanguard review.
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