Where this fits
Whether your plan can pay a regular income decides whether it has to move.
Sunny Bharj
Independent Financial Adviser
Tony Springer
Independent Financial Adviser
Fidelity's workplace pensions are provided by FIL Life Insurance Limited and the Fidelity Master Trust. Charges vary by fund and plan and are on the factsheets in PlanViewer. Withdrawals are arranged by phone, not every plan offers a regular income, and Fidelity makes no charge to transfer out.
FIL Life Insurance Limited, on the FCA register under number 186526, with FIL Platform Solutions (UK) Limited. The Fidelity Master Trust is authorised by The Pensions Regulator, and contract-based plans are overseen by an Independent Governance Committee.
Each fund has a total expense ratio built into its price, so what you pay depends on your funds. The ratios are on the fund factsheets in PlanViewer, and each plan publishes its own default investment document and annual governance report.
Fidelity agreed to move some older plans, its Section 32 and annuity policies, to Scottish Friendly, aiming for 30 September 2026 subject to High Court approval. If you hold one, check which company now administers it.
Fidelity says it does not charge exit fees. Transfers involving special benefits have their own line.
Checked on 2 October 2026 against retirement.fidelity.co.uk, the FCA register and The Pensions Regulator. Phone numbers, charges and options change, so check the provider's own site before you act.
Some workplace plans will pay you a lump sum and nothing else. A regular income can mean moving the pot.
Fidelity says it does not charge exit fees.
It depends on your plan. Fidelity says not every plan offers it and a move to another arrangement may be needed.
Fidelity agreed to move them to Scottish Friendly, aiming for 30 September 2026 subject to court approval.
Whether your plan can pay a regular income decides whether it has to move.
Independent Financial Adviser
Independent Financial Adviser
A first conversation of about twenty minutes, at no cost to you. Tell us what is on your mind: a pension you have lost track of, a fixed rate ending, a will you keep meaning to write.