NEST names panel of retirement income providers

NEST investors will be able to purchase an annuity from a provider on the panel, or from an open market alternative. The providers, which remain on the NEST panel on ten year contracts, are: Canada Life, Just Retirement, Legal & General (L&G), Partnership and Reliance Mutual. All of the panel providers have agreed to provide annuities on pension pots worth £1,500 or more. Tim Jones, chief executive of NEST said: "Our panel will enable members to buy a retirement income product if this is appropriate to their needs, even if they have a small pot." A NEST spokesperson said the p...