FIDELITY has issued a major challenge to UK pension providers with the launch of seven retirement funds giving access to the firm's UK range and a number of ways of taking income in retirement.
Advisers will also be able to receive commission payments for the new funds from clients throughout their lifetime. The new range consists of six target dated funds aimed at savers who wish to retire at some point in the next 35 years. Switching is free between these portfolios. The seventh fund, the Fidelity Retirement Income fund, is designed for those already in retirement and all the other funds will eventually roll over into this vehicle when the chosen retirement date is reached. Used in conjunction with Fidelity’s Withdrawal facility, retirees can elect to take monthly, qu...
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