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What is a final salary pension?

Important information -  the value of investments can go down as well as up so you may not get back what you invest. Tax treatment depends on individual circumstances and all tax rules may change in the future. You can't normally access money in a SIPP until age 55. It’s important to understand that pension transfers are a complex area and may not be suitable for everyone.

Understanding what a final salary pension is

A final salary pension is a type of defined benefit scheme, which pays a retirement income based on your salary and length of service. We're often asked by customers if they can transfer their direct benefit pension to Fidelity. Pension transfers are complex, particularly when it comes to a final salary pension, so we have to make sure that any pension transfer is in your best interests. Learn more about the whys and hows in this short video.

Transcript - What is a final salary pension?

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to an authorised financial adviser.

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Transferring final salary pensions to Fidelity

If you’d like to learn about transferring final salary pensions to Fidelity, you can explore the things to consider before you make your decision, why Defined Benefit Schemes are so valuable, and your options for expert help.

Read about final salary pension transfers