Every little helps: Tesco to enter annuity comparison arena

clock

Tesco is awaiting regulatory approval to launch an online annuity comparison service, though it does not plan to launch own-brand annuity products.

The supermarket giant plans to expand its Compare service - which currently allows consumers to search for car and home insurance quotes - to include UK annuity providers, according to a report in the Financial Times. "Subject to regulatory approval, Tesco Compare plans to expand its award-winning price comparison site to include an annuity comparison service," a Tesco spokesman told the paper. "Our application is currently with the regulator and we will update our customers in due course". Tesco Compare is part of Tesco Personal Finance, the umbrella group for all of the supermark...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Income

Legal & General goes digital for annuity applications

Legal & General goes digital for annuity applications

Applications could take 14 fewer days to process

Jenna Brown
clock 01 April 2025 • 1 min read
M&G launches fixed term annuity as it re-enters market

M&G launches fixed term annuity as it re-enters market

Fixed term of between five and 15 years on £10,000 minimum lump sum

Jenna Brown
clock 12 March 2025 • 2 min read
L&G reports record annuity sales of £2.1bn for 2024

L&G reports record annuity sales of £2.1bn for 2024

New business sales of annuities up 48%

Linus Uhlig & Jenna Brown
clock 12 March 2025 • 3 min read