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Investment Options for Fidelity Personal Retirement Annuity®: By Target Date

You choose your retirement year. We choose the investments.1

One of our target date portfolios may be a good choice for your FPRA assets if:

  • You'd like your FPRA investments to automatically "roll down," or gradually become more conservative, as you approach your retirement year.
  • You are in retirement now and want a conservative investment mix.
  • You don't have the time to research investment options and track your annuity portfolio.
  • You want exposure to multiple asset classes in a single investment.2
Your target date choices

Choose from six portfolios targeting different retirement years:

  • Fidelity® VIP Investor Freedom 2005 PortfolioSM
  • Fidelity® VIP Investor Freedom 2010 PortfolioSM
  • Fidelity® VIP Investor Freedom 2015 PortfolioSM
  • Fidelity® VIP Investor Freedom 2020 PortfolioSM
  • Fidelity® VIP Investor Freedom 2025 PortfolioSM
  • Fidelity® VIP Investor Freedom 2030 PortfolioSM

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 are 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.

Before investing, consider the investment objectives, risks, charges, and expenses of the variable annuity and its investment options. Call or write to Fidelity or visit Fidelity.com for a free prospectus and, if available, summary prospectus containing this information. Read it carefully.
Investing in a variable annuity involves risk of loss—investment returns and contract value are not guaranteed and will fluctuate.
1. The performance of the Fidelity VIP Freedom Fund portfolios depends on that of their underlying Fidelity and Fidelity VIP funds. These portfolios are subject to the volatility of the financial markets in the U.S. and abroad, and may be subject to the additional risks associated with investing in high-yield, commodity-linked, small-cap, and foreign securities.
2. Diversification does not ensure a profit or protect against a loss in a declining market.
Strategic Advisers, Inc. (the Adviser), a subsidiary of FMR LLC., manages the Fidelity VIP Investor Freedom Funds.
The Adviser may use an active asset allocation strategy to increase or decrease neutral asset class exposures reflected above by up to 10 percentage points for Equity Funds (includes domestic and international equity funds), Bond Funds (including high yield debt funds) and Short-Term Funds to reflect the Adviser’s market outlook, which is primarily focused on the intermediate term. The asset allocations in the chart above are referred to as "neutral" because they do not reflect any decisions made by the Adviser to overweight or underweight an asset class. This strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed above from time to time.
Withdrawals of taxable amounts from an annuity are subject to ordinary income tax, and, if taken before age 59½, may be subject to a 10% IRS penalty.
Fidelity Personal Retirement Annuity (Policy Form No. DVA-2005, et al.) is issued by Fidelity Investments Life Insurance Company (FILI), 100 Salem Street, Smithfield, RI 02917, and, for New York residents, Personal Retirement Annuity (Policy Form No. EDVA-2005, et al.) is issued by Empire Fidelity Investments Life Insurance Company, New York, NY. FILI is licensed in all states except New York. Fidelity Brokerage Services, Member NYSE, SIPC, and Fidelity Insurance Agency, Inc. are the distributors. A contract's financial guarantees are subject to the claims-paying ability of the issuing insurance company.
VIP refers to Variable Insurance Products.