Pensions and Retirement

Switching funds

To perform a switch, simply log in online, select your SIPP account and the option to switch.

You can switch between funds or from cash.

You can switch between individual funds or place multiple switches at the same time by using the ‘rebalance’ option.

Switches are free between funds in your SIPP, although some funds may have a bid-offer spread. (A Fund Manager’s Buy Charge one-off charge may still apply).

Taking an income

There are several ways you can withdraw money from your pension after you turn 55, such as selecting income drawdown or taking an annuity.

Take a look at our retirement pages for more details, or call Fidelity Retirement Service on 0800 368 6882.

Uncrystallised withdrawals

You could choose to take money from your main pension pot known as an “uncrystallised” withdrawal, which is the option to take ad-hoc withdrawals from your pension account without the need to setup a drawdown account. However, this will depend on your personal circumstances.

Usually, 25% of the total withdrawal amount will be tax-free and the rest taxable at your marginal income tax rate.

To find out whether this is suitable for you, please contact Fidelity Retirement Service on 0800 368 6882.

Opening a SIPP with us

The quickest way to open an account is online.

You can open an account with a single contribution, regular contribution, a transfer, or a combination of all three. Contributions can be made using your own personal money, by your employer, or from your company.

You can also open a Fidelity SIPP with contributions from a third party. Simply download this form.

 

Still need help? Our How-to guides can help take you through the task you're trying to complete.

Tax relief

We’ll claim basic tax relief at 20% for non-tax payers and basic-rate taxpayers on any contributions made within your annual allowance.

If you’re a higher-rate or additional-rate taxpayer, you need to claim the rest of your tax relief. Any additional amounts can be claimed through your annual tax return or by contacting HMRC.

Still need help?

Talk to our team

Give one of our UK-based associates a call on

0333 300 3351

Contact us

Send us your question online or visit us at our Investor Centre in London.