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Access all retirement income options

You need to transfer your pension to another arrangement to give you flexibility over your retirement income options from your defined contribution pot. You can choose to transfer to the Fidelity Master Trust to give you more income options, like setting up a regular income.

The Fidelity Master Trust

The Master Trust provides flexible retirement options with all the governance advantages of a trust-based scheme. You're supported by the pension and investment oversight of trustees who work in your best interests.

If you have said you plan to retire at a different age from 65 in your current scheme, your selected retirement age will be carried across to the Fidelity Master Trust if you choose to transfer. If you’ve already passed the retirement age you selected, it will be adjusted to your next birthday. We use the retirement age we have on our records for you (whether it is the standard age of 65 or an age you have specified yourself) as the basis for changes to any lifestyle investment strategy you may invest in. It also shows us when we need to write to you about your retirement income options.

Read more about Master Trust

Important information

  • You can also transfer to other drawdown providers in the open market. You should compare all options and make sure that you transfer to the arrangement that's right for you.
  • Before transferring a pension, you should undertake a full comparison of the benefits, charges, features and services offered.
  • You'll find more information on the Master Trust in the guide and the charges in the investment guide and you should review these before proceeding with a transfer to the Master Trust.
  • There are no penalties or exit charges if you choose to transfer to another pension provider. Pension Wise also contains helpful information about transferring your pension.
  • If you are unsure about the suitability of a transfer you should speak to an authorised financial adviser.

How to transfer your pension to the Fidelity Master Trust

Step 1

If you want to transfer your pension to the Fidelity Master Trust you should contact your pension administrator Capita, they will provide you an application form for taking benefits. Their details are in the correspondence sent to you about your pension.

Step 2

Once you have the Capita application form, print out the form below and send it to us. You will also need to send Capita's application form back to them.

Download form

What happens after we receive the application form

Once Fidelity have received our application form and Capita have received theirs, Capita will confirm to us how your benefits are to be paid. Your pension account will then automatically be transferred within 2 weeks. Your pension will be invested in the same funds with the same charges as your existing investment.