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Creating a retirement plan

There’s a lot to think about when you’re planning your retirement. And don’t forget your situation may change in the future, so it can help to be flexible. If you need any help, you can always call our retirement service on 0800 368 6882, Monday to Friday, 9am - 5pm. Here are some things to consider:

Important information - please keep in mind that the value of investments can go down as well as up, so you may not get back what you invest. Eligibility to invest in a SIPP and tax treatment depends on personal circumstances and all tax rules may change in the future. You cannot normally access money in a pension until age 55 (57 from 2028). It’s important to understand that pension transfers are a complex area and may not be suitable for everyone.

Work out what you have

There are lots of different places where you might get an income for your retirement. You’ll need to know what they are and how much you have so you can plan ahead effectively. Here is a list to help you.

The State Pension
Workplace pensions
Personal pensions
Selling a business
Other assets

Understanding what you'll need

Do you know how much savings you’ll need to support the lifestyle you want in retirement? Use our retirement calculator to find out if you are on track to meet your retirement goals.

Retirement calculator

Understanding your income options

When you’re planning your retirement it’s important to understand the options for taking income from your pension pot. You now have much more freedom than before, but this means there’s more for you to understand and consider and any decisions you do make can have a big impact on your future.

Understand your pension income options

What if there’s a gap?

What you do next is likely to depend on how close you are to retirement and whether you have enough savings to achieve your goals. If there is a shortfall, there are some options for you to consider.

Bring your pensions together
Consider paying in more to your pension
Boost your State Pension
Delay taking your tax-free cash
Work for longer
If you’re close to retirement

Important information – It’s important to understand that pension transfers are a complex area and may not be suitable for everyone. Before going ahead with a pension transfer, we strongly recommend that you undertake a full comparison of the benefits, charges and features offered. To find out what else you should consider before transferring, please read our transfer factsheet. If you are in any doubt whether or not a pension transfer is suitable for your circumstances we strongly recommend that you seek advice from one of Fidelity’s advisers or an authorised financial adviser of your choice.

Take control of your pensions by bringing them together

Trying to manage pensions across different providers can be both time-consuming and difficult. Bringing them together into Fidelity’s Self-Invested Personal Pension (SIPP) can help you take control and plan ahead more effectively. 

Find out more

Helpful guides


Retirement income guide

Download our guide to getting the retirement income you need.


Thinking of transferring?

To find out what you should consider first, please read our Fidelity SIPP transfer guide.

Ready to chat?

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 368 6882, Monday to Friday, 9am - 5pm.

Fidelity’s retirement service

Pension 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 Wise

Important information – This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment please speak to one of Fidelity’s advisers or an authorised financial adviser of your choice.