Nationwide Building Society is set to announce today it is entering the pensions market by selling annuities for the first time through its branch network.
The society has trained up 500 staff members and will offer plans from six providers - Aviva, Canada Life, Just Retirement, Legal & General, LV and Partnership. It will offer annuity advice to those with a pension pot of just £18,000. The annuities market is set to grow substantially in the next two years as the baby boomer generation - those born after the Second World War - retires. Guy Simmonds, head of product for protection and investments at Nationwide, said it was crucial to offer choice: "Many people think they have to buy their annuity from their pension provider. But that...
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