Helping youreach your retirement goalsOur low-cost SIPP, backed by Fidelity’s investment expertise

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Contents

What is a SIPP? 3

Six reasons to choose the Fidelity SIPP 4

Get Fidelity’s investment expertise workingfor you with our SIPP 7

Starting your SIPP 8

Managing your SIPP 14

What happens at retirement? 15

Opening your Fidelity SIPP 16

Important information

The information in this brochure is based on pension and taxationrules as at 6 April 2017. These are subject to change.

Helping youreach yourretirement goalsWith our low-cost SIPP, backedby Fidelity’s investment expertise

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What is a SIPP?A self-invested personal pension (SIPP) gives you more control over your retirement savings, as itcan offer you a much wider range of investment options than you receive with other personalpensions. The more expensive SIPPs allow you to invest in almost anything from futures to goldbullion, while low-cost SIPPs focus purely on funds.

With SIPPs, like all personal pensions, your money grows free of income tax and capital gainstax over the years. You also receive ‘tax relief’ when you contribute. What this means is that yourcontributions are boosted by an extra payment from the government.

As a result, a £20,000 pension investment costs:

• £16,000 for a basic rate taxpayer

• £12,000 for a higher rate taxpayer

• £11,000 for an additional rate taxpayer

Please note that if you are a higher or additional rate taxpayer, you will still initially invest £16,000and you would have to claim the additional tax relief through your tax return or by contacting HMRC.

Please see the enclosed tax relief factsheet for more information, including details of themaximum amounts you can invest in a pension each year and over your working life. It’s importantto remember that the value of tax savings and eligibility to invest in a SIPP depend on personalcircumstances. The value of investments can go down as well as up and you may not get backthe amount you invested. Tax rules may change in future. Please note that you can normally onlyaccess your pension benefits from age 55.

Source: Fidelity. The above example is based on the tax rules in force as at April 2017 for the tax year 2017/18.The amount you can contribute and the tax relief you can claim, will be entirely dependent on your individualcircumstances. You can claim tax relief on your pension contributions up to 100% of your relevant UK earnings.

You may have big plans for when you retire. Travelling, new hobbies and tickingoff things on your to-do list. Or perhaps you are simply looking forward to puttingyour feet up after a busy career. Whatever your dreams may be, a SIPP can takethe effort out of planning for those autumn years.

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Six reasons to choose the Fidelity SIPPFidelity International offers world class investment solutions and retirement expertise.Our vision is to deliver innovative client solutions for a better future.

The Fidelity Self-Invested Personal Pension (SIPP) could be a great way to save for retirement as it givesyou direct access to Fidelity’s investment experience, expertise and resources. In particular, we’ve created arange of exclusive online investment guidance options that can help you find the right funds for your needs.What’s more, it aims to keep costs low.

The Fidelity SIPP offers a number of great benefits designed to help you make the most of your retirement savings:

Fidelity is one of the country’s top investment management companiesFidelity is one of the UK’s leading investment companies and gives you access to over 100 of the UK’s leadinginvestment managers through our Investment Finder. With the Fidelity SIPP, you benefit from our years ofexperience in investment management and fund research.

Helping you decide how much you want to saveWhen you’re planning 20 or 30 years ahead (or even more), it can be hard to work out how much you needto save. It’s often suggested people should simply put aside as much as they can afford, but we believe itshould be about striking a balance between enjoying life now and affording the retirement you want.

That’s why we’ve developed our online retirement calculator. You can work out how much retirement might costyou and then put together a savings plan that should help you achieve your aims. All you have to do is tell uswhat you have in mind for your retirement lifestyle and then follow the online instructions.It only takes a few minutes to do and you may be surprised by the results!

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We offer all the guidance you need to create your ownpension portfolioThe funds you choose make a big difference to the performance of your SIPP overthe years. We know how difficult these decisions can be, so, while Fidelity PersonalInvesting does not give advice, we offer an exclusive range of support and guidancetools to help you get started. All these options are introduced in more detail frompage 10.

• Our PathFinder Tool categorises funds by risk to give you a fully diversified fund ina single click

• The Select 50 are chosen by Fidelity’s experts and are funds they believe stand outfrom their peers

• Our Investment Finder Tool can help you to review funds from over 100 of the UK’sleading fund managers into your own personal short list

Or, if you are not sure, you can leave it in the SIPP Cash Account and decide later.Please note that if you hold your investments as cash, you could see the value ofcash decrease with increased inflation. The value of investments and the income fromthem can go down as well as up so you may get back less than you invest.

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We offer low costs to make your money go furtherOver the long term, costs can really affect the growth of a pension plan, which is whythe Fidelity SIPP has low fees and no additional charges.

SIPP charges

SIPP set-up No fee

Switching between investments No fee*

Transferring an existing pension to us No fee†

*Please note that some fund managers will apply additional costs when buying orselling their funds.

†Some providers charge exit penalties on transferring. If you have to pay any exitfees from your current provider, we will contribute towards the total cost. Please seefidelity.co.uk/exitfeeterms for more information.

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Top tip

It’s easy to start a Fidelity SIPP foryour partner or child. They will thenreceive tax relief on your contributionsbased on their earnings. Don’t forget,everyone gets some tax relief – evenif they’re too young to have a job.

Service Fee

Our Typical service fee is just 0.35%. This depends on the value of your investment.

For a full explanation of fund and platform charges applicable to the Fidelity SIPP, please read the Fidelity SIPP KeyFeatures Document. To find out the charges for individual funds please refer to the key information documents andthe fund factsheet. You should refer to all these documents before you invest.

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Top tip

You can get breakingFidelity insights andanalysis by followingus on Facebook,YouTube or Twitter.

It’s easy to manage your money over the yearsOur online account service allows you to check the performance of your SIPP wheneveryou want. It’s free to register and you’ll see your SIPP alongside any other investmentsyou have with Fidelity.

We’ll also send you a half-yearly valuation and an annual statement, plus regularinvestment insights and ideas from our experts. To make changes to your SIPP, just logonto your account, select ‘deal on existing account’ and follow the instructions, or justcall our UK-based phone team if you need help.

We can help you get the retirement income you wantDifferent people have different goals when they retire. You do not have to decide nowbut you have a number of options to choose from once you reach 55 years of age.

The Government’s Pension Wise service offers free, impartial guidance to help youunderstand your options at retirement. You can access the guidance online atwww.pensionwise.gov.uk or over the telephone on 0800 138 3944.

Fidelity’s Retirement Service can offer you guidance and advice. We have a team ofspecialists who will be able to help you make these important decisions and select yourretirement income charges. Additional advisory charges will be agreed with you beforeundertaking any additional work. You can call them on 0800 084 5045. Of course, youare free to select your own adviser.

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Get Fidelity’s investment expertise workingfor you with our SIPPOnce you’ve invested, you’ll be able to monitor your pensiononline whenever you want and we’ll send you regular updates, soyou’ll always know how your retirement savings are performing.You’ll also get the latest insights and investment ideas fromour experts to help guide you with your investment decisionsover the years ahead. Finally, when you reach retirement, youcan choose the way you get your income – You can keep yourmoney invested and draw income from it; buy an annuity oryou can simply take the money out of your pension and spendit as you wish. It is also possible to have a combination ofthese choices.

Our goal is to help you afford the retirement you want. If you’rekeen to make your own investment decisions and manage yourpension yourself, the Fidelity SIPP could be just what you arelooking for.

Please remember that whenever you need to know moreabout your pension, you can call our UK-based SIPP team on0800 358 7480 or visit fidelity.co.uk/sipp There’s also lots moreinformation about retirement savings in general, on our websiteat fidelity.co.uk/retirement or call 0800 084 5045

You’ll also get thelatest insights andinvestment ideas fromour experts to helpguide your investmentdecisions over theyears ahead.

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Starting your SIPPChoosing how to investIt’s easy to start a Fidelity SIPP online. All you have to do is make two essential decisions– how much you want to invest and where you want to invest.

There are three ways you can invest in the Fidelity SIPP – lump sums, regular savings andpension transfers.

Lump sums and regular savings

You can choose to invest a lump sum or by making regular contributions. The minimumcontributions are:

• £1,000 gross for lump sums (you pay £800, and you receive £200 in basic rate tax relief)

• £50 gross a month in regular contributions (you pay £40 and you receive £10 in basicrate tax relief)

Once you have opened your account you can make additional lump sums or create regularsavings at any time as you can manage the SIPP account online. Just log in to youraccount, select ‘deal on existing account’ and then choose ‘add or amend contributions’.

Once the contribution has been made, we will send you a confirmation of the transaction.

Maximum Contribution (with tax relief)

Please note that, there is a limit on the total amount of contributions to pension schemesthat receive tax relief each year. This is 100% of your relevant UK earnings. The annualallowance is currently set at £40,000. If you exceed this amount, the excess may be liableto be a tax charge at the highest rate of tax you pay. You may be able to contributemore than £40,000 without incurring a tax charge if you haven’t used the full annualallowance for the previous three tax years and you have sufficient relevant UK earnings.You must have been a member of a registered pension scheme during the tax year inquestion to carry that year’s allowance forward. Please note there are two situationswhere your annual allowance may be reduced:

•Money Purchase Annual Allowance - This only applies in certain circumstances, one ofwhich is, if you have accessed pension income. If this does apply to you, your annualallowance will reduce from £40,000 to £4,000. Please note in this instance you alsocannot carry forward allowances from previous years.

•Reduced Annual Allowance for high earners – If you are a high earner the annualallowance may also be reduced. Changes made this year mean your allowance will bereduced by £1 for every £2 of income you earn over £150,000. The reduction stops at£210,000 so everyone will retain an allowance of at least £10,000. In this instance yourcarry forward benefits remain unaffected.

Lifetime Allowance

This is currently £1 million. If your pension savings are worth more than this when youtake your benefits, you may have to pay the lifetime allowance tax charge on the excessunless you have some form of lifetime allowance protection.

If you think how much you wish to contribute is affected by any of these allowances,please refer to the enclosed Tax Factsheet or alternatively please call one of ourretirement specialists on 0800 084 5045.

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Like the sound ofthese benefits? It’seasy to start yourFidelity SIPP.

Read on to find outmore.

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Five things to think about before making a transferIt’s important to note that transfers can be complex at times. There are someschemes containing certain guarantees or provide a different type of benefitwhich will be lost on transfer. Therefore we do not feel that transferring fromsuch schemes is likely to be in your best interests. However, if you are planningto transfer one of these schemes, we believe that it is essential that you receivefinancial advice in order to make an informed decision. You can call Fidelity’sRetirement Service on 0800 084 5045. We will offer you impartial advice and wewill discuss with you how much we will charge before we undertake any work.Alternatively you can speak with an interdependent financial adviser.

Here are five questions that may help you decide.

• How do the charges of your current plan compare with those of the Fidelity SIPP?

• Will your current plan impose an exit fee or a deduction, such as a marketvalue adjustment, if you go ahead with the transfer?

• Does your current plan offer any benefits that are not available with ourSIPP? For example, life insurance, early or flexible retirement options, morethan a 25% tax-free cash lump sum on retirement, inflation protection or aguaranteed income?

• How do the investment options offered by your current plan compare with therange available through the Fidelity SIPP?

• If your employer is paying into your current plan, would they be willing to makepayments into our SIPP instead? If not, it is usually worth staying with youremployer’s pension scheme.

If you are considering transferring a pension to the Fidelity SIPP you must readthe transfer factsheet. The factsheet explains important points you shouldconsider before you transfer.

If you have to pay anyexit fees from your currentprovider, we will contributetowards it. Please seefidelity.co.uk/exitfeetermsfor more details.

If you think you’ve lost anold pension plan, thePension Tracing service maybe able to help. Visitwww.gov.uk/find-lost-pensionto find out more.

Contributions from other people

Other people and/or your employer can make contributions to your SIPP.

• For contributions from your spouse or partner (or another third party), please complete a top-up formfor third parties

• For lump sum or regular contributions from your employer, please log in to your account, select ‘dealon existing account’ and follow the instructions to add to your SIPP with employer contributions. Youcan invest in the funds you already hold or choose new funds. Alternatively, you can print off anemployer top-up form. All the forms are available from our website at fidelity.co.uk/forms.

Pension transfers

Moving your other existing pension schemes into the Fidelity SIPP could make it easier to keep manageall your pension savings in one place. It could also help lower the annual charges you pay, becausethe service fee with Fidelity reduces once the value of your pension account reaches £250,000 in value.

Our only requirement is that you meet our transfer limits:

• If you are transferring to go into immediate pension drawdown the minimum is £50,000.

For all other transfers the minimum is £10,000. This includes transferring:

• Entirely in cash

• A combination of cash and existing pension funds

• An existing pension fund whether it is all of your fund holdings or a selection.

• A pension already in pension drawdown

Please note that you will be out of the market when transfering. This would mean you may miss out onrises in the market but it could mean you avoid losses should the market drop.

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Helping you investWhen it comes to making new investments (or switches later on), we know that many of our customerslike some help with their decisions. We have developed a range of information and guidance tools tohelp you choose investments for your pension. Simply visit fidelity.co.uk to find out more.

Please note that these guidance tools are not a personal recommendation in respect of a particularinvestment. If you need additional help, please speak to a financial adviser. You should regularlyreassess the suitability of your investments to ensure they continue to meet your attitude to risk andinvestment goals. Although risk is an important aspect to investing, you should also look at the length oftime you wish to invest for.

Please remember that the value of investments and the income from them can go down as well as up,so you may not get back the amount you invest.

■ PathFinderOur PathFinder tool provides you with a ready-made, single investment that holds a range of Multi AssetFunds chosen by the Fidelity Multi Asset team.

This specialist group of experienced analysts and fund managers is dedicated to developing investmentsdesigned to meet a wide range of investor needs. PathFinder is designed for people who are looking foran easy and quick way to start investing. All you have to do is pick the investment approach you want tofollow. We do everything else for you.

Capital Growth

There are five levels of risk available which have been set by our Multi Asset team, which are based onthe mixes of assets held in the funds. If you want a lower-risk way to invest, you can choose adefensive option that has a greater allocation of bonds and cash. At the other end of the scale, you canopt for a more growth orientated fund – some of which can be fully invested in global equities or fundswith a higher level of risk.

Once you choose your risk level all you need to do is choose one of two fund types:

• Expert FocusOur in-house investment experts spread your money across a range of best-in-class fund managersand stay on top of the best opportunities in the market on your behalf so you don’t have to.

• Cost FocusOur in-house investment experts spread your money across global markets and asset classes to keepyou well diversified, whilekeeping costs low.

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Income generating

If you are interested in our income options we’ll show you three Multi Asset Income Funds to consider.They contain a range of asset classes which aim to deliver a yield for investors and move between differentincome generating asset classes as the market changes.

Your instant investment portfolio

Once you’ve made your decisions, we will sort out everything for you. You’ll be investing in a single fund thatinvests in a range of funds chosen by our experts to suit your chosen level of risk.

Our team of experts will use their research and expertise to make the most of opportunities in all economicconditions, as well as managing the day-to-day decisions needed for an effective investment strategy.

Please note that the PathFinder tool is not a recommendation or advice in respect of a particular investment.If you need additional help, please speak to an authorised financial adviser. You should regularly reassessthe suitability of your investments to ensure they continue to meet your attitude to risk and investment goals.

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■ Select 50

Fund ideas direct from Fidelity’s expertsIf you want to build your own investment portfolio, but you’d like to utilise our expertise in fundmanagement, we have created a short list of around 50 funds.

It contains funds from the market that we believe stand out from their peers. They are chosen bythe Fidelity Multi Asset team, who apply the same criteria to Fidelity and third party funds, soyou can be sure you are receiving a balanced and impartial selection.

How we choose the funds

The Select 50 does not simply highlight the best-performing funds in a sector on a particularbasis or time period. We choose funds based on our selection team’s research and in-depthunderstanding of the managers’ processes and investment philosophies.

Each fund has to pass through a rigorous research process before it’s approved. The Multi Assetteam will speak with every fund manager at least every six months and meet them face-to-faceat least once a year. They also monitor all the funds they have chosen and regularly assesstheir performance, as well as checking softer factors, such as any changes to a team or itsinvestment approach.

The full list is reviewed regularly. If the team finds an outstanding new idea or identify an issuewith one of the existing funds, they will make changes. Please see fidelity.co.uk/select for themost recent funds..

Introducing the expertsOur Multi Asset range and the Select 50 are managed by thesame team of specialists. They are a global team of investmentprofessionals (located in London, Paris, Hong Kong and Tokyo)who manage over £38 billion.* This is mainly invested in fundsthat require our team to allocate their holdings to specialistmanagers running single asset class funds.

They have a great deal of experience in identifying the bestfund managers – from within Fidelity and from investmentmanagement companies all over the globe. They are alsoexperts in asset allocation, so they are able to design mixesof asset classes that they believe offer the right combinationsof risk to deliver the right levels of return.

*Source: Fidelity Multi Asset, as at 30 June 2017.

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Using the Select 50

The Select 50 is divided into eight broad categories and in each category you will find funds that wefeel stand out from their peers.

For most investors, the first decision will be to decide which categories you want to invest in. If you arebuilding a portfolio from scratch, you may want to combine multiple categories to create a balancedportfolio that meets your needs.

Whilst the list represents funds that our experts particularly rate, we are not recommending that thesefunds are right for you. Additionally, you may own a fund that is not held within the Select 50 andwe are not recommending that you sell it. Before investing you should read the essential documentswhich can be accessed by clicking on the individual fund names within the Select 50. For moreinformation visit fidelity.co.uk/select

■ Investment Finder

All the tools you need to research our full fund rangeIf you like doing your own investment research, you can explore our full fund range using our onlinetools. In minutes you’ll be able to review funds from over 100 of the UK’s leading fund managers andfilter them into your own personal short list. You can then research the funds in more detail using thefactsheets that are available on our website.

Whether you are building a new portfolio, oradding to an existing one, please do rememberthe importance of diversification. Combiningasset classes tends to reduce the level of risk inyour portfolio, while putting all your investmentsin funds focused on just one or two asset classescan be seen as higher risk. Please make sure youunderstand your chosen funds before you invest,including the risks they take. In addition, do notunderestimate the importance of reviewing yourinvestments regularly. If you are going to build yourown portfolio of funds, you need to set aside timeto monitor each fund and be certain that it is stillappropriate for your investment objectives, levels ofrisk and personal circumstances.

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Managing your SIPPOnce you’ve invested, it’s easy to manage your Fidelity SIPP, as you can follow theperformance of your investments or make changes to your account online.

You’ll also get the latest insights and investment ideas from our experts to help guide you with yourinvestment decisions over the years ahead.

Please remember that whenever you need to know more about your pension, you can call our UK-basedSIPP team on 0800 358 7480 or visit fidelity.co.uk/sipp There’s also lots more information aboutretirement savings in general, on our website.

at fidelity.co.uk/retirement or call 0800 084 5045.

It’s easy to manage your Fidelity SIPP, as you can follow the performance of your investments ormake changes to your account online.

Checking performance

If you want to see how your SIPP is performing, all you have to do is register for free with our onlineaccount service. You can then log in for updates whenever you want.

The service will also show you any other holdings you have with Fidelity, including ISAs andinvestment funds. This means you can treat your retirement savings as part of your overall portfolio.

If you and your partner both invest in the Fidelity SIPP, you can track the performance of their pensionalongside yours through our website – as long as you have their permission, of course.

Adding to your pension

Whenever you want to top-up your pension or change the amount you invest each month, just log onto your account and follow the instructions or call our UK-based team on our freephone number –0800 358 7480. Alternatively, you can download the appropriate forms from the forms section of ourwebsite, fidelity.co.uk/forms and send them to us in the post.

Changing your investment choices (Switching and rebalancing)

We know that pensions are a long-term investment, so we’ve made it easy for you to adapt yourstrategy as your needs change. For example, you may want to move your money into lower-riskinvestments (such as bond funds and cash) as you get nearer to retirement. All you have to do is loginto your account, select ‘deal on existing account’ and follow the instructions. Alternatively, just callus or post the appropriate form to us.

Or just call usand our UKbased team willbe more thanhappy to help.

Top tip

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What happens at retirement?When you get close to retirement you can choose the way you get your income –You can keep your money invested and draw income from it; buy an annuity oryou can simply take the money out of your pension and spend it as you wish. It isalso possible to have a combination of these choices.

We’ll write to you with full information about your options. We will explaineverything as clearly as we can, since choosing your retirement income is one ofthe most important financial decisions you are likely to make.

The Government offers a free and impartial guidance service to help you understandyour options at retirement. This is available via the web, telephone or face-to-facethrough government approved organisations, such as The Pensions AdvisoryService and the Citizens Advice Bureau. You can find out more by going topensionwise.gov.uk or by calling Pension Wise on 0800 138 3944.

Fidelity’s Retirement Service can offer you guidance and advice. We have ateam of specialists who will be able to help you make these important decisionsand select your retirement income charges. Additional advisory charges will beagreed with you before undertaking any additional work. You can call them on0800 084 5045. Of course, you are free to select your own adviser.

Our goal is to help you afford the retirement you want. If you’re keen to make yourown investment decisions and manage your pension yourself, the Fidelity SIPPcould be just what you are looking for.

Planning aheadMany people find that their attitude to risk changesover the years, so their money has to be movedinto new funds. This often involves reducing the riskin their pension as they get closer to retirement bygradually moving from equity funds to bond fundsand cash.

It’s important to remember that although we arehere to help you make investment decisions, youare in charge of managing your pension, so youwill have to make any necessary changes to yourchosen funds.

Important information: investors age 55or over are able to access their pensionsavings without any restrictions. Howeverplease do remember any withdrawals inexcess of the tax-free amount will betaxed as income at your marginal rate.

Opening your Fidelity SIPPIt’s easy to start a Fidelity SIPP. All you have to do is:

■ Decide how you want to investRemember you can put aside a lump sum, set up a regular savings plan or make apension transfer.

■ Go online to select your fundsFor details of how we can help, see pages 10 to 13.

■ Read the important information documentsBefore you invest, you must read Doing Business with Fidelity, which incorporates theFidelity Client Terms, and the relevant key information document for your chosenfund(s). These documents give you all the information you need to know about thefund(s), including details of the objectives, investment policy, risks, charges and pastperformance associated with the fund(s). You must also have read the Fidelity SIPPKey Features Document which incorporates the Fidelity SIPP Terms and Conditions.

Instructions on how to access these documents can be found at fidelity.co.uk/doingbusiness. If you do not have a computer or access to the internet please callFidelity on 0800 358 7480 to request a printed copy of the documents.

■ Apply online at fidelity.co.uk/SIPPIt doesn’t take long to apply and we’ll post you a confirmation when your SIPP is set up.

If you do not have access to the internet, please call us on 0800 358 7480 and ourUK-based SIPP team can help you get started.

If you need information

or support, please call

our UK-based team on

0800 358 7480 or visit

fidelity.co.uk/SIPP.

Issued by Financial Administration Services Limited, authorised and regulated by the Financial Conduct Authority. Fidelity, Fidelity International, the Fidelity Internationallogo and F symbol are trademarks of FIL Limited. UKM0917/20625/SSO/0418 SNPI-PEN-21

Helping you takemore control ofyour retirement.Fidelity delivers retirement adviceand transacts non-advised retirementbusiness through a wholly ownedsubsidiary called FIL RetirementServices Limited which is authorisedand regulated by the FinancialConduct Authority.

Fidelity does not provide annuitiesbut we will select annuity productsfrom the whole of the market for you.If you choose a drawdown pensionproduct through Fidelity’s RetirementService then you will only haveaccess to the Fidelity Self-InvestedPersonal Pension (SIPP). Similarly,you will have access only to Fidelity’sother product wrappers includingISAs through this service.

You will have access to the full rangeof investment funds and productsavailable on the Fidelity platformbut if we provide you with investmentadvice in relation to pensiondrawdown we will restrict this to aset of Fidelity managed investmentsolutions some of which will beinvested in non-Fidelity funds.