Transferring your drawdown pension

You aren’t locked in to a pension provider once you are in drawdown.

Why transfer a pension in drawdown to Fidelity?

*Tax relief is only available up to 100% of your earnings or £3,600 (gross) if that’s higher. If you contribute more than £40,000 (the annual allowance) in the 2017/18 tax year you may have to pay a tax charge for exceeding this amount, unless you have unused allowance from the any of three previous tax years. If you have earnings above £110,000 the amount you can contribute and get tax relief on may be lower (down to £10,000) and if you have flexibly withdrawn money from your pension savings this could be just £4,000.

For more information please review the following factsheets: Annual Allowance, Carry Forward, Tapered Annual Allowance, Money Purchase Annual Allowance.

** Exit fees terms and conditions
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Get some expert help

If you are considering transferring your pension in drawdown to Fidelity, we can make it easier for you.

Fidelity's retirement service has retirement specialists who are able to provide both guidance and advice about your retirement needs. The service we offer is based purely on helping you find the most appropriate solution for your personal circumstances. Call us on 0800 368 6882

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The government's Pension Wise service offers free, impartial guidance to help you understand your options at retirement. You can access the guidance online at or over the telephone on 0800 138 3944.