Introducing Fidelity Income Replacement Portfolios™

In retirement, you have two kinds of expenses – basic expenses, such as food and shelter, and discretionary expenses for all the other things you want.

It’s always a good idea to have your basic expenses covered by guaranteed sources of income. But what about those other things?

• money to take a trip or indulge an interest
• money to deal with an unplanned expense
• money to tide you over until other sources of income begin

Fidelity Income Replacement Portfolios™ are designed to accommodate these situations.

A new kind of retirement income solution, Fidelity Income Replacement Portfolios convert your savings into regular monthly payments for a period of time you choose.

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Fidelity Income Replacement Portfolios monthly payments are calculated based on data available in the year 2009 and will fluctuate in subsequent years. Monthly payments are calculated based on a schedule of annual target payment rates, which are determined by Fidelity Investments and disclosed in the prospectus. Monthly payments are not guaranteed and may fluctuate. The dollar amount of the monthly payment generally will fluctuate from one year to the next because the payment will depend on, among other factors, the annual target payment rate, the investment performance and the amount invested in the portfolio.

Read a fund’s prospectus before investing. Mutual funds are not guaranteed; their values change frequently and past performance may not be repeated. Investors will pay management fees and expenses, may pay commissions or trailing commissions and may experience a gain or loss. The breakdown of portfolio investments and the way in which a portfolio may invest is not representative of a fund’s actual, current or future investments. A fund’s investments may change at any time.