Your pension income options

How you can access your money

If you don't need any money from your pension you can leave it all invested as it is. Alternatively, if you do want to access your pension pot then there are a number of ways you can do this.

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The Government offers a free and impartial guidance service to help you understand your options at retirement. This is available via the web, telephone or face-to-face through government approved organisations, such as The Pensions Advisory Service and the Citizens Advice Bureau. You can find out more by going to or by calling Pension Wise on 0800 138 3944.

Helping you choose

Find out which option might suit you

Answer seven straightforward questions and we’ll point you towards some income options to explore.

Estimate your income

See what sort of income you could receive from annuities, drawdown or a combination of the two.

Drawdown with the Fidelity SIPP

If you want to go into drawdown then you can choose to do it with the Fidelity SIPP (Self-Invested Personal Pension).

  • You can take up to a quarter (25%) as a tax-free lump sum straight away or in stages.
  • You can choose how much to take and how often.
  • You can choose where to invest your pot (though remember that investments can go down as well as up, so you may get back less than you invest).
  • Our low pricing has no hidden charges or fees, so you know exactly what you pay for and when you pay it.

If your pension is not already in the Fidelity SIPP, you will need to transfer it before you access income drawdown.

For more drawdown support download our pension drawdown guide.

Bring your pensions together

If you’ve built up a number of pension pots over the course of your working life, bringing your pension plans together into the Fidelity Self-Invested Personal Pension (SIPP) could make them easier to manage.

Not to mention helping you keep an eye on costs and giving you access to a wealth of Fidelity guidance.

You can even track your transfer online, with the status of each request at your fingertips.

Find the best pension provider

It’s important to talk to different pension providers.

Here are some questions you should ask any company that you’re considering opening a pension with:

  • What are the fees and charges? These can have a big impact on your retirement savings over time.
    These should include:
    • Fees and charges for your investments (these will vary by provider)
    • Transaction charges (for example, drawdown charges if you want to start or amend your income)
  • What are the options for access? Some providers do not offer all the retirement options under the pension freedoms
  • What support is available for your choice of investments? You may benefit from changing your investment approach from time to time.
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Get some expert help

Our retirement specialists can help you get ready for retirement, by supporting every aspect of your plans – from choosing the right income for your needs to making sure your money lasts.

Fidelity's retirement service has retirement specialists who are able to provide both guidance and advice. The service we offer is based purely on helping you find the most appropriate solution for your personal circumstances and our flat-rate advice fee is one of the lowest of any other leading providers. Call us on 0800 368 6882