They’re already calling it Pensions Freedom Day. On April 6, UK savers aged over 55, most of whom once bought annuities on retirement, will be able to do whatever they please with their retirement funds.

This potentially opens up a new world of opportunity for asset managers - a mass market of post-retirement investment funds to manage. As much as £133 billion could flow into this kind of product over the next decade, according to market researchers Spence Johnson.