Fidelity Investments Variable Annuity Account I has announced an update to its prospectus, effective November 1, 2026. This change pertains to the Fidelity VIP Freedom Lifetime Income Portfolios, reflecting new expense structures. This update is significant as it showcases Fidelity's commitment to maintaining transparency and adaptability in its investment offerings.

The Fidelity Investments Variable Annuity Account I is an investment entity incorporated in Utah. It is primarily involved in the investment sector, focusing on variable annuities. The company has recently filed several forms, including the 497VPU, which details updates to its investment offerings.

The recent SEC filing states, "Effective November 1, 2026, current expenses for the Fidelity VIP Freedom Lifetime Income Portfolios have changed." This implies that investors will need to review the new expense structures to understand how they may affect their investments.

This update may impact current and potential investors in the Fidelity VIP Freedom Lifetime Income Portfolios. Investors will need to assess the new expenses and their implications for future returns.

The filing does not say what happens next, but Fidelity encourages investors to contact their Annuity Service Specialists for more information regarding allocation options.

Details of the Updated Expense Structures

The filing indicates that the current expenses for the Fidelity VIP Freedom Lifetime Income Portfolios have been revised. Specifically, the expense ratios for the different classes of the Fidelity VIP Freedom Lifetime Income funds have been detailed, with Fidelity VIP Freedom Lifetime Income I having an expense ratio of 0.37%, Fidelity VIP Freedom Lifetime Income II at 0.39%, and Fidelity VIP Freedom Lifetime Income III at 0.46%.

Furthermore, the average annual total returns for these funds as of December 31, 2025, have also been disclosed. For instance, the one-year return for Fidelity VIP Freedom Lifetime Income I was reported at 9.70%, while the five-year return stood at 2.32%, and the ten-year return was 4.36%.

"Seeks high total return with a secondary objective of principal preservation as the fund approaches its ultimate target asset allocation and beyond."

This objective underlines Fidelity's strategy for these portfolios, aiming to balance growth with the preservation of capital as investors near their retirement goals.

Contact Information for Investors

Investors seeking further clarification or wishing to discuss their options can reach Fidelity's Annuity Service Specialists at 1-800-634-9361, available Monday through Friday from 8:30 a.m. to 7:30 p.m. Eastern time. This accessibility reflects Fidelity's dedication to providing support and guidance to its clients.