Karen Barrett, Chief Executive at unbiased.co.uk comments on Tesco launching a non-advised annuity comparison service

Karen Barrett, Chief Executive at unbiased.co.uk comments on Tesco launching a non-advised annuity comparison service:

“The industry has long been aware that there is a real need for people to shop around for their annuity to ensure they are getting the best income in retirement and new entrants like Tesco prove just how big the market for this type of service is.  While Tesco helps to spread awareness amongst consumers that they should shop around for the best annuity deal, their service is non-advised.  We believe it is important for consumers to understand that they don’t have to be an expert in annuities to make the right decision - taking professional advice on their pre and at retirement options is an easy and reassuring way to work through the different options, to ensure they are making the right choices for their retirement income.

“Of the over 8,000 whole of market adviser branches we list on unbiased.co.uk, over half (51%) provide advice on pensions and of those, a third (34%) specifically list annuity purchase as an area of specialism.  We also know that retirement planning is and always has been the single biggest driver for consumers to seek advice, highlighting just how valued having a professional guide you through the different options is.  Retirement is a key area where professional advice plays a huge role and we would encourage consumers looking to shop around for an annuity to type their details into www.unbiased.co.uk for a quick and confidential search for a whole of market annuity adviser in their area.” 

ENDS

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