Retirement

Pensions Reform

As a major provider of corporate pension schemes in the , both defined benefit and defined contribution, Fidelity International has been actively involved in the public debate and consultation about pension reform and simplification in recent years.

It is clear that we are all going to have to take greater individual responsibility for our financial security in retirement. Fidelity thus supports government efforts to simplify the pension regime to make it easier for savers to contribute to pension schemes at the time that suits them and in a way that they find most convenient.

Personal Accounts

The introduction of personal accounts will be the most radical change in the ’s pension landscape for decades. We believe the industry will have a vital role to play in ensuring that a workable structure for the new national scheme emerges.

We believe that it will be important to ensure that the new scheme does not adversely affect existing corporate provision and that the scheme’s introduction does not lead to a levelling-down of provision in the occupational sector.