Over a year after announcing plans for Vanguard Super, there is still no date for its release according to the firm.
The firm announced a board of directors back in April 2021 and said at the time that it expected to launch a superannuation product in 2021. The firm then said last November that it was delayed until 2022.
Speaking to Super Review, a spokesperson for Vanguard said the firm was “still working on it” seven months later.
Asked if there was a reason for the delay or a future timeframe, the firm said: “We’re taking the time to do things right so no timeframe set at this stage”.
At the time, head of superannuation, Michael Lovett, said the Vanguard offering would be a fund designed to allow members to keep more of their savings and evolve with members right through their lifetime.
Vanguard Australia had $142 billion in assets under management and 751 employees.