Need to split multiple column which contains pipeline seperated data in to multiple rows

This might be easiest to solve with a pre-processor, either an external script or a UDx that explodes each row.
Current Vertica supports ARRAY type, so you could load data like this, but need to edit array and record delimiters:
dbadmin=> create table array3 (a1 array[int], a2 array[int], a3 array[int]);
dbadmin=> copy array3 from stdin;
1,2|20,30|40,50
dbadmin=> select * from array3;
a1 | a2 | a3
-------+---------+---------
[1,2] | [20,30] | [40,50]
Then use array functions like position access and EXPLODE to expand each row.

@Suhrid_R__Ghosh - Here is a an example per @Bryan_H 's great suggestion!

dbadmin=> CREATE TABLE t_temp (id ARRAY[INT], value1 ARRAY[INT], value2 ARRAY[INT]);
CREATE TABLE

dbadmin=> \! cat /home/dbadmin/t.txt
ID VALUE_1 VALUE_2
1|2 20|30 40|50

dbadmin=> COPY t_temp FROM '/home/dbadmin/t.txt' DELIMITER ' ' COLLECTIONDELIMITER '|' SKIP 1;
 Rows Loaded
-------------
           1
(1 row)

dbadmin=> SELECT * FROM t_temp;
  id   | value1  | value2
-------+---------+---------
 [1,2] | [20,30] | [40,50]
(1 row)

dbadmin=> SELECT id, value1, value2 FROM
dbadmin->   (SELECT explode(id) OVER (PARTITION BEST) AS (pos, id) FROM t_temp) a
dbadmin->   JOIN
dbadmin->   (SELECT explode(value1) OVER (PARTITION BEST) AS (pos, value1) FROM t_temp) b USING (pos)
dbadmin->   JOIN
dbadmin->   (SELECT explode(value2) OVER (PARTITION BEST) AS (pos, value2) FROM t_temp) c USING (pos);
 id | value1 | value2
----+--------+--------
  1 |     20 |     20
  2 |     40 |     50
(2 rows)

If you don't have Vertica 10, here's another possibility:

dbadmin=> CREATE TABLE t (id INT, value_1 INT, value_2 INT);
CREATE TABLE

dbadmin=> \! cat /home/dbadmin/t.txt
ID VALUE_1 VALUE_2
1|2 20|30 40|50

dbadmin=> COPY t(data_f FILLER VARCHAR, id AS (split_part(split_part(data_f, ' ', 1), '|', 1))::INT, value_1 AS (split_part(split_part(data_f, ' ', 2), '|', 1))::INT, value_2 AS (split_part(split_part(data_f, ' ', 3), '|', 1))::INT) FROM '/home/dbadmin/t.txt' DELIMITER '.' SKIP 1;
 Rows Loaded
-------------
           1
(1 row)

dbadmin=> COPY t(data_f FILLER VARCHAR, id AS (split_part(split_part(data_f, ' ', 1), '|', 2))::INT, value_1 AS (split_part(split_part(data_f, ' ', 2), '|', 2))::INT, value_2 AS (split_part(split_part(data_f, ' ', 3), '|', 2))::INT) FROM '/home/dbadmin/t.txt' DELIMITER '.' SKIP 1;
 Rows Loaded
-------------
           1
(1 row)

dbadmin=> SELECT * FROM t;
 id | value_1 | value_2
----+---------+---------
  1 |      20 |      40
  2 |      30 |      50
(2 rows)

Keep it simple ... we have SPLIT_PART() in Vertica ...

WITH
-- your input ..
indata(id , value_1,value_2) AS (
  SELECT '1|2','20|30','40|50'
)
-- real query starts here, replace "," with "WITH" ...
,
i(i) AS (-- just need 2 ints ...
            SELECT 1
  UNION ALL SELECT 2
)
SELECT
  SPLIT_PART(id     ,'|',i)::INT AS id
, SPLIT_PART(value_1,'|',i)::INT AS value_1
, SPLIT_PART(value_2,'|',i)::INT AS value_1
FROM indata CROSS JOIN i
ORDER BY 1;
-- out  id | value_1 | value_1 
-- out ----+---------+---------
-- out   1 |      20 |      40
-- out   2 |      30 |      50