Getting ready for retirement
Retirement can be an exciting time - with more freedom to do what you enjoy. There’s more financial freedom nowadays too and we can help you to set up your retirement income in a way that will best meet your needs.
Important Information - investment values and income from investments can go down as well as up, so you may get back less than you invest. SIPP eligibility and tax treatment depends on individual circumstances and tax rules may change. You cannot normally access money in a pension until age 55 (57 from 2028). Before transferring a pension, compare all the benefits, charges and features and always seek financial advice if you’re unsure.
Need help?
Talk to someone about your retirement options in more detail
We can help
Close to retirement but unsure about the options and pitfalls ahead? We can offer guidance and advice to help you find the best solution for your retirement. Call us on 0800 41 41 61 - we're open 8:30am to 5:30pm, Monday to Friday.
Fidelity’s retirement servicePension Wise
The government’s Pension Wise service offers free, impartial guidance to help you understand your options at retirement. You can access the guidance online or call on 0800 011 3797.
Visit Pension WiseIncome options – the choice is yours
These are the three main ways you can access your pension savings. But, remember, if you have a final salary pension scheme (defined benefits) you don’t have the same flexibility, unless you transfer your money out of this type of scheme. Transferring a pension that contains any kind of promise or guarantee requires careful consideration. This is because the benefits are normally lost once you transfer and cannot usually be reinstated.
Flexible retirement income (drawdown)
Taking lump sums
Guaranteed income for life (annuity)
Be prepared
A good plan
Multiple pensions
Final salary pensions
Your legacy
If you want to go into drawdown then you can choose to do it with our SIPP (Self-Invested Personal Pension).
- You can take 25% of your pot tax-free, as long as this amount is not higher than your remaining lump sum allowance.
- You can choose how much to take and how often.
- You can choose where to invest your pot.
If it's not already in our SIPP, you will need to transfer your pension before you access income drawdown.
For more drawdown support download our pension drawdown guide.
You’re likely to be in retirement for 20 years or more. So it’s important to invest your pension in a way that will help you achieve your retirement goals. You may be comfortable choosing your own investments or you may need support - either way, we can help. Please remember that investments can go down as well as up, so you could get back less than you invest.
Close to retirement but unsure about the options and pitfalls ahead? We can offer guidance and advice to help you find the best solution for your retirement. Call us on 0800 41 41 61. We're open 8:30am to 5:30pm, Monday to Friday.
Pension drawdown
Thinking of transferring?
Important information: This is not a personal recommendation for a product, service or action. If you are unsure about the suitability of pension investments or transfers, or action you need to take, we strongly recommend seeking advice. Before making your decision, please read our pension transfer factsheet. This explains the things you need to consider before you transfer, including fully comparing the benefits, charges and features offered. Pension rules apply. Seek advice from Fidelity's advisers or another authorised financial adviser if you're unsure.
