Retirement planning

Having both a pension and a retirement savings plan can help set you up for a healthy financial future. Your pension provides access to guaranteed future income* if you fulfill certain requirements. And your retirement savings plan puts you more in control—you decide how much to contribute and how you want to invest it.

Together, these two plans—plus any other retirement accounts you have—can help you build income to have the retirement you envision. It’s important to familiarize yourself with both benefits so you can make them work together to help create your best retirement. Comprehensive retirement planning support from Fidelity can help!

* Annuity guarantees are subject to the claims-paying ability of the issuing insurance company.

What you need to know:

Start planning for retirement by looking at all potential sources of income and understanding how different factors, such as delaying retirement beyond your normal retirement date, may affect your future financial well-being.
Find out how and where your retirement savings plan fits into your retirement income in the future. Take the time to determine how much you may need to set aside now to help reach your future savings goals.
Check in on your accrued benefit(s) semi-regularly and ensure all your information, like your home address and designated beneficiary (if applicable), is up to date.
Consider the people who will continue to depend on you for monetary support in retirement. Taking time to plan now can help ensure a stable future for you and your loved ones when you are no longer working.

Shifting your savings strategy

Learn how having a pension may influence how you manage your other retirement savings as you plan for the future.

Optimizing your retirement paycheck

Learn about the different types of retirement income—and how and when to use each to serve different needs.

Consider next steps

Estimate your future pension benefit at NetBenefits

Log into your account and, under “Your accounts and benefits,” click on your pension plan name. From there, you can model your benefit* by entering a series of information for your estimate, like a termination date, Benefit Commencement Date (BCD), and beneficiary details. You can also save your calculation or review prior estimates.

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Visit Your financial wellness dashboard

Use Your financial wellness dashboard to set goals that matter to you, track progress and celebrate milestones along the way. Make confident steps toward the future with simple tools and relevant insights.