This week is a big event for many wealth builders because it marks the official release of a pension plan by Vanguard that

Darling of the fire movement. I want to go over the basic specs of the plan and provide a little bit of balance.

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So yes, yes, Vanguard have launched a sip.

It's all very exciting for a lot of people out there.

So let's just have a rundown of the basic points.

Firstly and easily the headline thing is that there is an annual charge of 0.15%,

up to a maximum of 375 pounds per year. They essentially then stop charging you above a quarter of a million pounds held on the platform.

Now that 375 pound capped charge is across all accounts with Vanguard, not each account, so that's a pretty good deal.

There's no at retirement functionality yet, so for now it's an accumulation platform only, but they've said that this is likely to affect people who are

planning to retire in the near future. By extension that means they're planning to

add that functionality in the near future, I'm sure. You know, we've waited

something like three years for Vanguard to actually

launch this plan so let's not expect them to move too quickly but we might all be surprised.

For now if you want to take benefits from your pensions you're going to need to transfer it away from Vanguard

before you do that. Obviously you can only invest in Vanguard's funds, their own funds at this point.

I've heard rumors that that might change in the future but I'm not sure it will. I really don't think Vanguard have got any

designs on being a multi-provider, multi-investment platform. I might be wrong.

Vanguard makes its money primarily on fund

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