With people living longer, you might value a flexible approach.
Use our Pension Drawdown Calculator to find out what income your pension could provide and how long your pension could potentially last.
You can even get an estimate of how much of your pension might be left for your loved ones.
Fidelity offers you pension drawdown through the Fidelity SIPP (Self invested Personal Pension), a flexible, tax-efficient pension that you control.
Four reasons to choose a Fidelity SIPP for pension drawdown:
1. You can save money on fees
Our low-cost service fee (typically 0.35%*) helps you keep more of your money. For pension pots of £250,000 or more the service fee is 0.2%. Of course, fund manager's ongoing charges will apply.
2. It's easy to track and manage your pension
You can track your pension using our online account management service.
3. A wide range of investment options to suit your needs
Choose from over 2,000 funds and use our award-winning guidance tools to help you choose investments.
4. Customer service you can rely on
Available six days a week for information, support or guidance - our UK pensions team are here to help you get the most out of your investments.
Fidelity offers pension drawdown to investors with pension pots of £50,000 or more.
*This depends on the amount of money you have invested with us. More information on our service fee tiers and charging can be found on our SIPP charges and fees page.
If you are looking for some help in choosing funds to help you support your retirement income, our experts have selected a number of funds for you to consider.
Our team of experts can help you decide.
It’s taking as much as or as little as you want when you want it from your savings, while the rest stays invested.
The great thing about this is its flexibility—you can take whatever you want to suit your needs.
Pension drawdown is available through our Fidelity SIPP, and you get to decide how you want your savings to be invested. This will depend on how much you want to take from your savings, when you want to take it and how much risk you’re comfortable with taking. But no matter how often or how much money you take out, the rest of your fund will remain invested.
It’s important to remember your fund’s value could go down as well as up, and you may get back less than you invested. There’s always the risk that you outlive your savings if investment returns are poor.
You can take part of your savings tax-free (usually 25%), and any other withdrawals are taxed as income in the tax year in which they’re taken.
When you die, any money that’s still in pension drawdown can be passed to those you love, though it may be subject to tax.
This information is not investment advice or a recommendation for any particular product, service or course of action. Pension and retirement planning can be complex, so if you are unsure of the suitability of a pension investment, retirement service or any action you need to take, please contact Fidelity’s Retirement Service on 0800 368 6898 or refer to your financial adviser.
The value of investments can go down as well as up and you may get back less than you invested. Eligibility to invest into a pension depends on personal circumstances and all tax rules may change. With pension products you will not be able to withdraw money until you reach age 55.
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 www.pensionwise.gov.uk or over the telephone on 0800 138 3944.