UK-based Fidelity International, a manager of individual savings accounts and personal equity plans, is offering savers who are comfortable making their own investment decisions the chance to invest in a personal pension wrapper that is free - for life.

Investors who take out the Fidelity Personal Pension before December 10, 2007 will not pay any setup fee and annual administration charge for the life of the plan. Investors will also benefit from the Fidelity Personal Pension’s permanent low-cost features and pay no initial charges on any of the funds held in the pension and no switching fee when they change investments.

In fact, the only fees paid by an investor in the Fidelity Personal Pension are the usual management charges levied by the investment companies managing the underlying mutual funds that savers choose.

The Fidelity Personal Pension is aimed at investors who want to build a retirement savings portfolio at low cost or switch from higher-cost personal pensions.

Richard Wastcoat, UK managing director of Fidelity International, said: For those savers who are comfortable making their own investment decisions, the Fidelity Personal Pension offers unbeatable value. These savers can now have a pension wrapper that is free for life, just as they have enjoyed free ISA and PEP wrappers.