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

M&G's opens fixed term annuity to UK retail market after soft launch

M&G's opens fixed term annuity to UK retail market after soft launch

Prudential Guaranteed Income Plan backed by £128bn With-Profits fund

Jenna Brown
clock 22 July 2025 • 1 min read
Targeted support: FCA rules out specific annuity suggestions

Targeted support: FCA rules out specific annuity suggestions

Firms must signpost consumers to MoneyHelper’s annuities comparison tool

Jenna Brown
clock 30 June 2025 • 3 min read
How annuity underwriting needs to change to meet Consumer Duty

How annuity underwriting needs to change to meet Consumer Duty

'This is an industry systematically delivering poor outcomes'

Andrew Gething
clock 24 June 2025 • 4 min read