Your pension income options
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.
Important information - 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 are some points to consider:
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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 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 138 3944.
www.moneyhelper.org.ukHelping you choose
Pension drawdown calculator
Understand how much income you could take and how long your pension might last at that rate.
Pension tax calculator
Use our pension withdrawal tax calculator to find out how much tax you could pay if you decide to take a lump sum payment from your pension.
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.
Explore pension transfersPension drawdown
Learn more about this flexible retirement income option with the pension drawdown guide.
Download the pension drawdown guide
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
Important information: This information is not a personal recommendation for any particular product, service or course of action. 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 or if you are unsure about the suitability of a pension investment, retirement service or any action you need to take, please contact Fidelity’s Retirement Service on 0800 368 6882 or refer to an authorised financial adviser of your choice.
