Tesco move will lift OMO market, says McPhail

Tesco has applied for regulatory approval to expand its Compare service to include UK annuity providers. McPhail, head of pensions research at Hargreaves Lansdown and chairman of the Pensions Income Choice Association, said it was important that retirees shop around for the best deal. "It is vital that everyone who can, makes sure they benefit from an enhanced annuity, as well as considering inflation proofing and death benefits for their dependents," he said. "The more high profile participants there are in the shopping around market, the more likely it is that this will happen." ...