L&G has partnered with HSBC UK to let customers access annuities as part of their retirement income options.
HSBC UK customers can access the L&G annuity service online and apply directly for an annuity, while still being able to access the best rates across the market.
If a customer needs advice they will be referred to HSBC UK’s financial advice team.
L&G said demand for annuities has grown in recent years, and in 2025 L&G achieved sales of more than £2billion.
HSBC UK customers already have access to L&G’s life insurance, income protection and critical illness cover.
L&G retail chief executive Laura Mason said: “Our continued collaboration with HSBC UK enables us to give more customers control over their retirement planning.
“Looking ahead, we expect substantial growth in this market over the next decade as the first waves of ‘defined contributions-only’ customers begin to retire and explore the most effective ways to manage their retirement funds.”
HSBC UK head of wealth Xian Chan said: “We are committed to offering our customers a range of retirement solutions that meet their needs. Offering an annuity product through our partnership with L&G meets a genuine customer need for those that are looking for long-term stability and a guaranteed income for their retirement.”
Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by finopulse.
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