Hands-off investing approach for Fidelity Personal Retirement Annuity®

Single-fund solutions that offer automatic diversification1 and professional money management.

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Questions about an existing annuity?


Choose from 2 single-fund strategy approaches

Don't have the time to research investment options and track your annuity portfolio? A hands-off approach might be a fit for you. You decide what's most important to you, choose the portfolio that fits your needs, and we choose the investments.1

Choose the fund that corresponds to the approximate year you want to retire.

  • Your investment gradually becomes more conservative as you get closer to retirement.2
  • And if you are already retired, we offer a fund with a more conservative investment portfolio.


Choose a fund that fits your tolerance for risk.

  • You can choose a portfolio based on your personal risk tolerance level, from conservative to aggressive.2
  • Your investment can align with a specific target asset allocation.
Your risk-based portfolio choices

VIP FundsManager® Portfolios3 include 7 different portfolios with equity allocation targets ranging from 20% to 85%.

VIP Asset Manager Portfolios include 2 different portfolios with equity allocation targets of 50% and 70%.

VIP Balanced Portfolio5 invests approximately 60% of its assets in equities, with the remainder in fixed income securities.

How they're managed

Invested according to a target asset allocation

Diversified across the major asset classes (stocks, bonds, and cash)

Actively managed

What they invest in

VIP FundsManager® Portfolios utilize a "fund-of-funds" approach, investing across a mix of Fidelity domestic equity, international equity, fixed income, and money market funds.

VIP Asset Manager Portfolios and VIP Balanced Portfolio5 invest in individual stocks, bonds, and short-term/money market instruments.

Your target date choices

Choose from 11 Fidelity® VIP Investor Freedom portfolios4 targeting different retirement years and one designed for those in retirement, Fidelity® VIP Investor Freedom Income PortfolioSM.

What they invest in

Each portfolio is a diversified mix of Fidelity Variable Insurance Products (VIP) short-term, fixed income, domestic equity, and international equity funds.

  • The farther from the portfolio's target year, the higher the equity allocation of the portfolio.
  • The closer to the portfolio's target year and beyond, the more conservative the allocation of the portfolio becomes, until it ultimately merges with Fidelity VIP Investor Freedom Income.
How they're managed

Fidelity handles the asset allocation and investment decisions and manages the roll-down using a proprietary approach. As with all funds available for FPRA, principal invested is not guaranteed at any time, including at or after a portfolio's target date.