Sainsbury and Safeway have no plans as yet to follow Tesco, which will become the first supermarket to offer pensions thanks to its tie-up with Scottish Widows.
Sainsbury's Bank, which is 45% owned by Bank of Scotland and which is using Standard Life funds to back its mortgage products, says it has no plans to promote pensions at the check-out.
Safeway, the last of the big three to launch a high-rate savings account with the backing of Abbey National, also says it is in no hurry to follow Tesco.
It is the third new product launched by Tesco Personal Finance, a 50-50 venture with the Royal Bank of Scotland, in the past month following home insurance and personal loans, but under the separate banner of Tesco Personal Finance Life.
The new arm, a joint venture with Scottish Widows, is headed by David Graham, until now the Edinburgh-based life insurer's head of marketing.
Graham said the new plan ''offers excellent value as well as the flexibility that modern life demands''.
Like other financial products available from the supermarkets, the pensions will merely be promoted at the check-outs, with contact numbers for what Tesco says is ''full telephone advice on pension planning''.
The plan is initially being test marketed in 20 stores across the UK and will then be rolled out nationally
There is a handout of 1000 loyalty points (#10) for signing up to a plan.
The pensions are in the mould of other low-cost flexible plans linked to tracker funds, such as those sold by Virgin, Direct Line, Eagle Star, Legal & General and Scottish Widows itself.
Tesco says it is providing the best value because it can utilise the skills of Scottish Widows for advice, and there are no hidden charges beyond a 1% annual management fee and a 4% administration levy on payments.
Independent financial advisers are not impressed. Brian Aitchison, of Aitchison & Colegrave Scotland's biggest independent IFA, commented: ''We believe supermarkets are not the appropriate place for specialist advice on pensions.
''We feel people should look at a wider spectrum of products.''
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