Whatever your myPlan results, don’t be put off planning for your retirement - act now or you may have to save more later on. Consider everything that might be available to you, including state or company pensions, and find a flexible plan to finance you and your family’s future
What are some of your investment options?
ISAs - these are a flexible, tax-efficient way to save. You choose the funds you want and when to withdraw your money. You don’t have to buy an annuity when you retire, so you keep your capital too.
Pensions and SIPPs – With all pension products you cannot access your money until age 50 (rising to age 55 from 2010), but it can be a very tax efficient way to save. You’ll need to use your pension fund to buy an annuity before you’re 75, which will give you an income in retirement (usually for the rest of your life and guaranteed). You can also take a 25% tax-free lump sum at your retirement to spend as you wish.
Property - can also be another source of income, but remember that property values and rents can go down as well as up. If you are relying on your property to provide your pension, remember you'll still need somewhere to live when you retire!
Ways to take control with Fidelity
Fidelity's Retirement funds
Whether you opt for an ISA, a SIPP or to invest outside of these tax wrappers, Fidelity can offer you a wide choice of funds, including Fidelity's Retirement funds. We’ve designed these funds to last a lifetime, so all you need to do is make one investment decision. We do the rest. And if things change – your fund can change too.
Want more choice?
Our online fund supermarket, FundsNetwork
TM offers you a huge choice of funds from over 60 leading providers, within several different tax-efficient wrappers.
The value of your investment can go down as well as up and you may get back less than you invested. Please be aware that the value of tax savings and eligibility to invest in an ISA or SIPP will depend on individual circumstances and all tax rules may change in the future.
