Fidelity International has extended its withdrawal facility to Isas and Peps, allowing investors to take a regular "income" without forfeiting tax benefits.
Richard Wastcoat, UK managing director at Fidelity International, said: “We expect more investors to want an income from their savings as they approach retirement. Holders of growth funds no longer need to sell or switch to another product just because they want a regular income. This facility gives investors greater flexibility and, with longevity increasing, could be ideal for those who want to keep their savings invested in the stock market during retirement.
“Isas and Peps have both been popular investment vehicles. In fact, more than 17 million people have ISAs and £220bn has been invested since their launch in 1999. At a time when more people are being asked or forced to take increasing responsibility for their own retirement income, we believe that making regular withdrawals available from Isas and Peps across all funds on FundsNetwork will be of great help to many investors.”
Fidelity’s free withdrawal plan is available on all Fidelity funds and all third party funds on FundsNetwork. There is a minimum amount of £50 per fund per withdrawal but no maximum. The minimum holding in a fund is £1,000.
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