NEST announced its panel of retirement income providers in June 2011.
NEST's members can choose to buy a retirement income from the panel or shop around on the open market.
NEST's selection criteria require providers to be registered and authorised to provide retirement income products in the UK. They must also commit to meeting NEST’s business requirements:
The panellists are:
The panel will make it easy for members to access retirement income products suitable for their needs and the size of their retirement pots.
Each provider will be able to provide retirement income products on pots from £1,500 upwards.
Members will be able to request quotations, and explore the income they would get. They can then choose to buy from the panel or shop around more widely if they want to.
NEST will provide information to help members decide what sort of retirement income product might be appropriate for their needs.
Find out more details with our Retirement Panel providers factsheet