Vanguard has launched a range of target date funds aimed at investors looking to retire at a specific point in time.
The nine products, which invest in Vanguard funds and have target dates ranging from 2015 to 2055, adapt the asset mix for the different stages of the investor’s journey “to and through retirement”, the company said.
The launch of the funds, each of which has an ongoing charges figure of 0.24 per cent, comes in the wake of last year’s pension reforms and other industry changes.
Steve Charlton, a retirement specialist for Vanguard, said: “Following pension freedom reforms in 2015, investors have more flexibility and choice but they also face even more decisions on how to save for retirement and how to spend or draw an income in retirement.
“We’ve created Vanguard’s target retirement fund range in the knowledge that not everyone will know whether they will take lump sums, a regular income or buy an annuity until they retire.
“These funds help people to save and invest for retirement regardless of how they choose to use the funds in retirement.”
