Like securities of all mutual funds, these securities have not been approved or disapproved by the Securities and Exchange Commission, and the Securities and Exchange Commission has not determined if this prospectus is accurate or complete. Any representation to the contrary is a criminal offense.

245 Summer Street, Boston, MA 02210

Contents

Fund Summary		Fidelity Freedom® Index Income Fund
		Fidelity Freedom® Index 2005 Fund
		Fidelity Freedom® Index 2010 Fund
		Fidelity Freedom® Index 2015 Fund
		Fidelity Freedom® Index 2020 Fund
		Fidelity Freedom® Index 2025 Fund
		Fidelity Freedom® Index 2030 Fund
		Fidelity Freedom® Index 2035 Fund
		Fidelity Freedom® Index 2040 Fund
		Fidelity Freedom® Index 2045 Fund
		Fidelity Freedom® Index 2050 Fund
		Fidelity Freedom® Index 2055 Fund
		Fidelity Freedom® Index 2060 Fund
		Fidelity Freedom® Index 2065 Fund
Fund Basics		Investment Details
		Valuing Shares
Shareholder Information		Additional Information about the Purchase and Sale of Shares
		Converting Shares
		Exchanging Shares
		Features and Policies
		Dividends and Capital Gain Distributions
		Tax Consequences
Fund Services		Fund Management
		Fund Distribution
Appendix		Financial Highlights
		Additional Index Information

Fund Summary

This example helps compare the cost of investing in the fund with the cost of investing in other funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

 

 

	Institutional Premium Class		Premier Class
1 year	$	8	$	6
3 years	$	26	$	19
5 years	$	45	$	34
10 years	$	103	$	77

 

 

Portfolio Turnover

 

The fund will not incur transaction costs, such as commissions, when it buys and sells shares of underlying Fidelity® funds (or "turns over" its portfolio), but it could incur transaction costs if it were to buy and sell other types of securities directly. If the fund were to buy and sell other types of securities directly, a higher portfolio turnover rate could indicate higher transaction costs and could result in higher taxes when fund shares are held in a taxable account. Such costs, if incurred, would not be reflected in annual operating expenses or in the example and would affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 22% of the average value of its portfolio.

Principal Investment Strategies

• Investing primarily in a combination of Fidelity® U.S. equity funds, international equity funds, bond funds, and short-term funds (underlying Fidelity® funds), each of which (excluding any money market fund) seeks to provide investment results that correspond to the total return of a specific index.
• Allocating assets according to a stable asset allocation strategy (approximately 11% in U.S. equity funds, 8% in international equity funds, 43% in U.S. investment grade bond funds, 5% in international bond funds, 3% in long-term treasury bond funds, 20% in short-term inflation-protected bond funds, and 10% in short-term funds). Fidelity Management & Research Company LLC (FMR) (the Adviser) may modify the fund's asset allocations from time to time when in the interests of shareholders.
• Buying and selling futures contracts (both long and short positions) in an effort to manage cash flows efficiently, remain fully invested, or facilitate asset allocation.
• Using an asset allocation among underlying Fidelity® U.S. equity funds, international equity funds, bond funds, short-term funds, and futures according to a stable asset allocation of approximately:

	U.S. Equity Funds 11%
	International Equity Funds 8%
	International Bond Funds 5%
	U.S. Investment Grade Bond Funds 43%
	Long-Term Treasury Bond Funds 3%
	Long-Term Inflation-Protected Bond Funds 0%
	Short-Term Inflation-Protected Bond Funds 20%
	Short-Term Funds 10%

* The Adviser may change these percentages over time. The allocation percentages may not add to 100% due to rounding.

Principal Investment Risks

Shareholders should consider that no target date fund is intended as a complete retirement program and there is no guarantee that any single fund will provide sufficient retirement income at or through your retirement. The fund's share price fluctuates, which means you could lose money by investing in the fund, including losses near, at or after the target retirement date.

• Asset Allocation Risk.

The fund is subject to risks resulting from the Adviser's asset allocation decisions. The selection of underlying funds and the allocation of the fund's assets among various asset classes could cause the fund to lose value or its results to lag relevant benchmarks or other funds with similar objectives.

• Investing in Other Funds.

The fund bears all risks of investment strategies employed by the underlying funds, including the risk that the underlying funds will not meet their investment objectives.

• Stock Market Volatility.

Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.

• Interest Rate Changes.

Interest rate increases can cause the price of a debt security to decrease.

• Foreign Exposure.

Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Foreign exchange rates also can be extremely volatile.

• Industry Exposure.

Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect a single industry or group of related industries.

• Prepayment.

The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility if interest rates change.

• Issuer-Specific Changes.

The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

Changes in the financial condition of an issuer or counterparty (e.g., broker-dealer or other borrower in a securities lending transaction) can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's value or result in delays in recovering securities and/or capital from a counterparty.

A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security to decrease.

• Correlation to Index.

The performance of an underlying index fund and its index may vary somewhat due to factors such as fees and expenses of the underlying fund, transaction costs, sample selection, regulatory restrictions, and timing differences associated with additions to and deletions from the index. Errors in the construction or calculation of the index may occur from time to time and may not be identified and corrected for some period of time, which may have an adverse impact on an underlying fund and its shareholders.

• Passive Management Risk.

Some of the underlying funds in which the fund invests are managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities, regardless of the current or projected performance of an underlying fund's index or of the actual securities included in the index. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the performance of these underlying funds could be lower than actively managed funds that may shift their portfolio assets to take advantage of market opportunities or lessen the impact of a market decline or a decline in the value of one or more issuers. An underlying index fund may be concentrated to approximately the same extent that its index concentrates in the securities of issuers in a particular industry or group of industries.

• Leverage Risk.

Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.

• Inflation-Protected Debt Exposure.

Increases in real interest rates can cause the price of inflation-protected debt securities to decrease. Interest payments on inflation-protected debt securities can be unpredictable.

• Securities Lending Risk.

Securities lending involves the risk that the borrower may fail to return the securities loaned in a timely manner or at all. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, an underlying fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

 

Performance

The following information is intended to help you understand the risks of investing in the fund.

The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and a hypothetical composite of market indexes over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.401k.com and log in (plan accounts) or www.fidelity.com (all other accounts) for more recent performance information.

 

Year-by-Year Returns

 

				2016	2017	2018	2019	2020	2021	2022
				3.80%	6.73%	-0.80%	10.68%	8.59%	2.85%	-11.08%

During the periods shown in the chart for Institutional Premium Class:	Returns	Quarter ended
Highest Quarter Return	5.24%	June 30, 2020
Lowest Quarter Return	-5.85%	June 30, 2022
Year-to-Date Return	3.59%	March 31, 2023

 

Average Annual Returns

 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After-tax returns for Institutional Premium Class are shown in the table below and after-tax returns for other classes will vary. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.

For the periods ended December 31, 2022	Past 1 year	Past 5 years	Life of class
Institutional Premium Class - Return Before Taxes	-11.08%	1.75%	2.35%A
Return After Taxes on Distributions	-12.09%	0.57%	1.31%A
- Return After Taxes on Distributions and Sale of Fund Shares	-6.47%	1.01%	1.49%A
Premier Class - Return Before Taxes	-11.07%	-	-1.33%B
Bloomberg U.S. Aggregate Bond Index (reflects no deduction for fees, expenses, or taxes)	-13.01%	0.02%	2.17%
Fidelity Freedom Index Income Composite Index℠ (reflects no deduction for fees or expenses)	-11.04%	1.86%	3.34%

AFrom June 24, 2015.

 

BFrom June 24, 2020.

Investment Adviser

FMR (the Adviser) is the fund's manager.

Portfolio Manager(s)

Andrew Dierdorf (Co-Portfolio Manager) has managed the fund since 2009.

Brett Sumsion (Co-Portfolio Manager) has managed the fund since 2014.

Finola McGuire Foley (Co-Portfolio Manager) has managed the fund since 2018.

Purchase and Sale of Shares

You may buy or sell shares through a Fidelity® brokerage or mutual fund account, through a retirement account, or through an investment professional.

You may buy or sell shares in various ways:

Internet

Plan Accounts:	All Other Accounts:
www.401k.com	www.fidelity.com

Phone

Plan Accounts:

For Individual Accounts (investing through a retirement plan sponsor or other institution), refer to your plan materials or contact that institution directly.

For Retirement Plan Level Accounts:

Corporate Clients 1-800-962-1375

"Not for Profit" Clients 1-800-343-0860

All Other Accounts:

Fidelity Automated Service Telephone (FAST®) 1-800-544-5555

To reach a Fidelity representative 1-800-544-6666

Mail

Plan Accounts:
Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035	Overnight Express:   Fidelity Investments 100 Crosby Parkway Covington, KY 41015
All Other Accounts:
Additional Purchases:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0003	Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035

TDD - Service for the Deaf and Hearing Impaired

All Accounts:

1-800-544-0118

Shares of the fund are not eligible for purchase by registered investment companies or business development companies to the extent such acquisition is in reliance on Rule 12d1-4 under the Investment Company Act of 1940.

The price to buy one share is its net asset value per share (NAV). Shares will be bought at the NAV next calculated after an order is received in proper form.

The price to sell one share is its NAV. Shares will be sold at the NAV next calculated after an order is received in proper form.

The fund is open for business each day the New York Stock Exchange (NYSE) is open.

Institutional Premium Class and Premier Class shares have a minimum initial investment of $5,000,000 and $2,000,000,000, respectively. The fund may waive or lower purchase minimums in other circumstances.

Tax Information

Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to Broker-Dealers and Other Financial Intermediaries

The fund, the Adviser, Fidelity Distributors Company LLC (FDC), and/or their affiliates may pay intermediaries, which may include banks, broker-dealers, retirement plan sponsors, administrators, or service-providers (who may be affiliated with the Adviser or FDC), for the sale of fund shares and related services. These payments may create a conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.

 

Fund Summary

Fund/Class:

Fidelity Freedom® Index 2005 Fund

/Institutional Premium, Premier 

 

Investment Objective

 

Fidelity Freedom® Index 2005 Fund seeks high total return until its target retirement date. Thereafter the fund's objective will be to seek high current income and, as a secondary objective, capital appreciation.

Fee Table

The following table describes the fees and expenses that may be incurred when you buy, hold, and sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund.

 

 

Shareholder fees

(fees paid directly from your investment)

None

 

Annual Operating Expenses

(expenses that you pay each year as a % of the value of your investment)

	Institutional Premium Class	Premier Class
Management fee	0.08%	0.06%
Distribution and/or Service (12b-1) fees	None	None
Other expenses	0.00%	0.00%
Total annual operating expenses	0.08%	0.06%

This example helps compare the cost of investing in the fund with the cost of investing in other funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

 

 

	Institutional Premium Class		Premier Class
1 year	$	8	$	6
3 years	$	26	$	19
5 years	$	45	$	34
10 years	$	103	$	77

 

 

Portfolio Turnover

 

The fund will not incur transaction costs, such as commissions, when it buys and sells shares of underlying Fidelity® funds (or "turns over" its portfolio), but it could incur transaction costs if it were to buy and sell other types of securities directly. If the fund were to buy and sell other types of securities directly, a higher portfolio turnover rate could indicate higher transaction costs and could result in higher taxes when fund shares are held in a taxable account. Such costs, if incurred, would not be reflected in annual operating expenses or in the example and would affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 28% of the average value of its portfolio.

Principal Investment Strategies

• Investing primarily in a combination of Fidelity® U.S. equity funds, international equity funds, bond funds, and short-term funds (underlying Fidelity® funds), each of which (excluding any money market fund) seeks to provide investment results that correspond to the total return of a specific index.
• Allocating assets according to an asset allocation strategy shown in the glide path below that adjusts over time until it reaches an allocation similar to that of the Fidelity Freedom® Index Income Fund, approximately 10 to 19 years after the year 2005. Fidelity Management & Research Company LLC (FMR) (the Adviser) may modify the fund's asset allocations from time to time when in the interests of shareholders.

• The asset allocation shown in the glide path depicts the allocation to U.S. equity funds, international equity funds, bond funds (including U.S. investment grade bond, international bond, inflation-protected bond, and long-term treasury bond), and short-term funds.
• Buying and selling futures contracts (both long and short positions) in an effort to manage cash flows efficiently, remain fully invested, or facilitate asset allocation.
• The Adviser, under normal market conditions, will make investments that are consistent with seeking high total return for several years beyond the fund's target retirement date in an effort to achieve the fund's overall investment objective.
• Using an asset allocation among underlying Fidelity® funds and futures as of April 1, 2023, of approximately:

	U.S. Equity Funds 12%
	International Equity Funds 8%
	International Bond Funds 5%
	U.S. Investment Grade Bond Funds 43%
	Long-Term Treasury Bond Funds 3%
	Long-Term Inflation-Protected Bond Funds 0%
	Short-Term Inflation-Protected Bond Funds 19%
	Short-Term Funds 10%

* The Adviser may change these percentages over time. The allocation percentages may not add to 100% due to rounding.

• Designed for investors who retired in or within a few years of 2005 (target retirement date) at or around age 65.

When the asset allocation of a fund matches Fidelity Freedom® Index Income Fund's asset allocation (approximately 10 to 19 years after the year indicated in the fund's name), the Board of Trustees may combine the fund with Fidelity Freedom® Index Income Fund, without shareholder approval, and the fund's shareholders will become shareholders of Fidelity Freedom® Index Income Fund.

Principal Investment Risks

Shareholders should consider that no target date fund is intended as a complete retirement program and there is no guarantee that any single fund will provide sufficient retirement income at or through your retirement. The fund's share price fluctuates, which means you could lose money by investing in the fund, including losses near, at or after the target retirement date.

• Asset Allocation Risk.

The fund is subject to risks resulting from the Adviser's asset allocation decisions. The selection of underlying funds and the allocation of the fund's assets among various asset classes could cause the fund to lose value or its results to lag relevant benchmarks or other funds with similar objectives.

• Investing in Other Funds.

The fund bears all risks of investment strategies employed by the underlying funds, including the risk that the underlying funds will not meet their investment objectives.

• Stock Market Volatility.

The Adviser will continue to invest the fund's assets in equity funds in the years following the fund's target retirement date in an effort to achieve the fund's overall investment objective. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.

• Interest Rate Changes.

Interest rate increases can cause the price of a debt security to decrease.

• Foreign Exposure.

Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Foreign exchange rates also can be extremely volatile.

• Industry Exposure.

Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect a single industry or group of related industries.

• Prepayment.

The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility if interest rates change.

• Issuer-Specific Changes.

The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

Changes in the financial condition of an issuer or counterparty (e.g., broker-dealer or other borrower in a securities lending transaction) can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's value or result in delays in recovering securities and/or capital from a counterparty.

A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security to decrease.

• Correlation to Index.

The performance of an underlying index fund and its index may vary somewhat due to factors such as fees and expenses of the underlying fund, transaction costs, sample selection, regulatory restrictions, and timing differences associated with additions to and deletions from the index. Errors in the construction or calculation of the index may occur from time to time and may not be identified and corrected for some period of time, which may have an adverse impact on an underlying fund and its shareholders.

• Passive Management Risk.

Some of the underlying funds in which the fund invests are managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities, regardless of the current or projected performance of an underlying fund's index or of the actual securities included in the index. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the performance of these underlying funds could be lower than actively managed funds that may shift their portfolio assets to take advantage of market opportunities or lessen the impact of a market decline or a decline in the value of one or more issuers. An underlying index fund may be concentrated to approximately the same extent that its index concentrates in the securities of issuers in a particular industry or group of industries.

• Leverage Risk.

Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.

• Inflation-Protected Debt Exposure.

Increases in real interest rates can cause the price of inflation-protected debt securities to decrease. Interest payments on inflation-protected debt securities can be unpredictable.

• Securities Lending Risk.

Securities lending involves the risk that the borrower may fail to return the securities loaned in a timely manner or at all. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, an underlying fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

 

Performance

The following information is intended to help you understand the risks of investing in the fund.

The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and a hypothetical composite of market indexes over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.401k.com and log in (plan accounts) or www.fidelity.com (all other accounts) for more recent performance information.

 

Year-by-Year Returns

 

				2016	2017	2018	2019	2020	2021	2022
				4.89%	8.94%	-1.53%	12.37%	9.19%	3.55%	-11.55%

During the periods shown in the chart for Institutional Premium Class:	Returns	Quarter ended
Highest Quarter Return	6.39%	June 30, 2020
Lowest Quarter Return	-6.19%	June 30, 2022
Year-to-Date Return	3.77%	March 31, 2023

 

Average Annual Returns

 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After-tax returns for Institutional Premium Class are shown in the table below and after-tax returns for other classes will vary. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.

For the periods ended December 31, 2022	Past 1 year	Past 5 years	Life of class
Institutional Premium Class - Return Before Taxes	-11.55%	2.05%	2.85%A
Return After Taxes on Distributions	-12.64%	0.69%	1.67%A
- Return After Taxes on Distributions and Sale of Fund Shares	-6.67%	1.27%	1.90%A
Premier Class - Return Before Taxes	-11.46%	-	-0.78%B
Bloomberg U.S. Aggregate Bond Index (reflects no deduction for fees, expenses, or taxes)	-13.01%	0.02%	0.93%
Fidelity Freedom Index 2005 Composite Index℠ (reflects no deduction for fees or expenses)	-11.46%	2.17%	2.96%

AFrom June 24, 2015.

 

BFrom June 24, 2020.

Investment Adviser

FMR (the Adviser) is the fund's manager.

Portfolio Manager(s)

Andrew Dierdorf (Co-Portfolio Manager) has managed the fund since 2009.

Brett Sumsion (Co-Portfolio Manager) has managed the fund since 2014.

Finola McGuire Foley (Co-Portfolio Manager) has managed the fund since 2018.

Purchase and Sale of Shares

You may buy or sell shares through a Fidelity® brokerage or mutual fund account, through a retirement account, or through an investment professional.

You may buy or sell shares in various ways:

Internet

Plan Accounts:	All Other Accounts:
www.401k.com	www.fidelity.com

Phone

Plan Accounts:

For Individual Accounts (investing through a retirement plan sponsor or other institution), refer to your plan materials or contact that institution directly.

For Retirement Plan Level Accounts:

Corporate Clients 1-800-962-1375

"Not for Profit" Clients 1-800-343-0860

All Other Accounts:

Fidelity Automated Service Telephone (FAST®) 1-800-544-5555

To reach a Fidelity representative 1-800-544-6666

Mail

Plan Accounts:
Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035	Overnight Express:   Fidelity Investments 100 Crosby Parkway Covington, KY 41015
All Other Accounts:
Additional Purchases:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0003	Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035

TDD - Service for the Deaf and Hearing Impaired

All Accounts:

1-800-544-0118

Shares of the fund are not eligible for purchase by registered investment companies or business development companies to the extent such acquisition is in reliance on Rule 12d1-4 under the Investment Company Act of 1940.

The price to buy one share is its net asset value per share (NAV). Shares will be bought at the NAV next calculated after an order is received in proper form.

The price to sell one share is its NAV. Shares will be sold at the NAV next calculated after an order is received in proper form.

The fund is open for business each day the New York Stock Exchange (NYSE) is open.

Institutional Premium Class and Premier Class shares have a minimum initial investment of $5,000,000 and $2,000,000,000, respectively. The fund may waive or lower purchase minimums in other circumstances.

Tax Information

Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to Broker-Dealers and Other Financial Intermediaries

The fund, the Adviser, Fidelity Distributors Company LLC (FDC), and/or their affiliates may pay intermediaries, which may include banks, broker-dealers, retirement plan sponsors, administrators, or service-providers (who may be affiliated with the Adviser or FDC), for the sale of fund shares and related services. These payments may create a conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.

 

Fund Summary

Fund/Class:

Fidelity Freedom® Index 2010 Fund

/Institutional Premium, Premier 

 

Investment Objective

 

Fidelity Freedom® Index 2010 Fund seeks high total return until its target retirement date. Thereafter the fund's objective will be to seek high current income and, as a secondary objective, capital appreciation.

Fee Table

The following table describes the fees and expenses that may be incurred when you buy, hold, and sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund.

 

 

Shareholder fees

(fees paid directly from your investment)

None

 

Annual Operating Expenses

(expenses that you pay each year as a % of the value of your investment)

	Institutional Premium Class	Premier Class
Management fee	0.08%	0.06%
Distribution and/or Service (12b-1) fees	None	None
Other expenses	0.00%	0.00%
Total annual operating expenses	0.08%	0.06%

This example helps compare the cost of investing in the fund with the cost of investing in other funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

 

 

	Institutional Premium Class		Premier Class
1 year	$	8	$	6
3 years	$	26	$	19
5 years	$	45	$	34
10 years	$	103	$	77

 

 

Portfolio Turnover

 

The fund will not incur transaction costs, such as commissions, when it buys and sells shares of underlying Fidelity® funds (or "turns over" its portfolio), but it could incur transaction costs if it were to buy and sell other types of securities directly. If the fund were to buy and sell other types of securities directly, a higher portfolio turnover rate could indicate higher transaction costs and could result in higher taxes when fund shares are held in a taxable account. Such costs, if incurred, would not be reflected in annual operating expenses or in the example and would affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 26% of the average value of its portfolio.

Principal Investment Strategies

• Investing primarily in a combination of Fidelity® U.S. equity funds, international equity funds, bond funds, and short-term funds (underlying Fidelity® funds), each of which (excluding any money market fund) seeks to provide investment results that correspond to the total return of a specific index.
• Allocating assets according to an asset allocation strategy shown in the glide path below that adjusts over time until it reaches an allocation similar to that of the Fidelity Freedom® Index Income Fund, approximately 10 to 19 years after the year 2010. Fidelity Management & Research Company LLC (FMR) (the Adviser) may modify the fund's asset allocations from time to time when in the interests of shareholders.

• The asset allocation shown in the glide path depicts the allocation to U.S. equity funds, international equity funds, bond funds (including U.S. investment grade bond, international bond, inflation-protected bond, and long-term treasury bond), and short-term funds.
• Buying and selling futures contracts (both long and short positions) in an effort to manage cash flows efficiently, remain fully invested, or facilitate asset allocation.
• The Adviser, under normal market conditions, will make investments that are consistent with seeking high total return for several years beyond the fund's target retirement date in an effort to achieve the fund's overall investment objective.
• Using an asset allocation among underlying Fidelity® funds and futures as of April 1, 2023, of approximately:

	U.S. Equity Funds 17%
	International Equity Funds 11%
	International Bond Funds 5%
	U.S. Investment Grade Bond Funds 39%
	Long-Term Treasury Bond Funds 3%
	Long-Term Inflation-Protected Bond Funds 3%
	Short-Term Inflation-Protected Bond Funds 14%
	Short-Term Funds 7%

* The Adviser may change these percentages over time. The allocation percentages may not add to 100% due to rounding.

• Designed for investors who retired in or within a few years of 2010 (target retirement date) at or around age 65.

When the asset allocation of a fund matches Fidelity Freedom® Index Income Fund's asset allocation (approximately 10 to 19 years after the year indicated in the fund's name), the Board of Trustees may combine the fund with Fidelity Freedom® Index Income Fund, without shareholder approval, and the fund's shareholders will become shareholders of Fidelity Freedom® Index Income Fund.

Principal Investment Risks

Shareholders should consider that no target date fund is intended as a complete retirement program and there is no guarantee that any single fund will provide sufficient retirement income at or through your retirement. The fund's share price fluctuates, which means you could lose money by investing in the fund, including losses near, at or after the target retirement date.

• Asset Allocation Risk.

The fund is subject to risks resulting from the Adviser's asset allocation decisions. The selection of underlying funds and the allocation of the fund's assets among various asset classes could cause the fund to lose value or its results to lag relevant benchmarks or other funds with similar objectives.

• Investing in Other Funds.

The fund bears all risks of investment strategies employed by the underlying funds, including the risk that the underlying funds will not meet their investment objectives.

• Stock Market Volatility.

The Adviser will continue to invest the fund's assets in equity funds in the years following the fund's target retirement date in an effort to achieve the fund's overall investment objective. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.

• Interest Rate Changes.

Interest rate increases can cause the price of a debt security to decrease.

• Foreign Exposure.

Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Foreign exchange rates also can be extremely volatile.

• Industry Exposure.

Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect a single industry or group of related industries.

• Prepayment.

The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility if interest rates change.

• Issuer-Specific Changes.

The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

Changes in the financial condition of an issuer or counterparty (e.g., broker-dealer or other borrower in a securities lending transaction) can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's value or result in delays in recovering securities and/or capital from a counterparty.

A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security to decrease.

• Correlation to Index.

The performance of an underlying index fund and its index may vary somewhat due to factors such as fees and expenses of the underlying fund, transaction costs, sample selection, regulatory restrictions, and timing differences associated with additions to and deletions from the index. Errors in the construction or calculation of the index may occur from time to time and may not be identified and corrected for some period of time, which may have an adverse impact on an underlying fund and its shareholders.

• Passive Management Risk.

Some of the underlying funds in which the fund invests are managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities, regardless of the current or projected performance of an underlying fund's index or of the actual securities included in the index. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the performance of these underlying funds could be lower than actively managed funds that may shift their portfolio assets to take advantage of market opportunities or lessen the impact of a market decline or a decline in the value of one or more issuers. An underlying index fund may be concentrated to approximately the same extent that its index concentrates in the securities of issuers in a particular industry or group of industries.

• Leverage Risk.

Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.

• Inflation-Protected Debt Exposure.

Increases in real interest rates can cause the price of inflation-protected debt securities to decrease. Interest payments on inflation-protected debt securities can be unpredictable.

• Securities Lending Risk.

Securities lending involves the risk that the borrower may fail to return the securities loaned in a timely manner or at all. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, an underlying fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

 

Performance

The following information is intended to help you understand the risks of investing in the fund.

The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and a hypothetical composite of market indexes over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.401k.com and log in (plan accounts) or www.fidelity.com (all other accounts) for more recent performance information.

 

Year-by-Year Returns

 

				2016	2017	2018	2019	2020	2021	2022
				5.73%	10.73%	-2.31%	14.40%	10.44%	5.14%	-12.99%

During the periods shown in the chart for Institutional Premium Class:	Returns	Quarter ended
Highest Quarter Return	8.06%	June 30, 2020
Lowest Quarter Return	-7.64%	June 30, 2022
Year-to-Date Return	4.26%	March 31, 2023

 

Average Annual Returns

 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After-tax returns for Institutional Premium Class are shown in the table below and after-tax returns for other classes will vary. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.

For the periods ended December 31, 2022	Past 1 year	Past 5 years	Life of class
Institutional Premium Class - Return Before Taxes	-12.99%	2.46%	3.37%A
Return After Taxes on Distributions	-14.06%	0.74%	1.94%A
- Return After Taxes on Distributions and Sale of Fund Shares	-7.47%	1.59%	2.32%A
Premier Class - Return Before Taxes	-12.96%	-	-0.01%B
Bloomberg U.S. Aggregate Bond Index (reflects no deduction for fees, expenses, or taxes)	-13.01%	0.02%	2.17%
Fidelity Freedom Index 2010 Composite Index℠ (reflects no deduction for fees or expenses)	-12.90%	2.58%	5.52%

AFrom June 24, 2015.

 

BFrom June 24, 2020.

Investment Adviser

FMR (the Adviser) is the fund's manager.

Portfolio Manager(s)

Andrew Dierdorf (Co-Portfolio Manager) has managed the fund since 2009.

Brett Sumsion (Co-Portfolio Manager) has managed the fund since 2014.

Finola McGuire Foley (Co-Portfolio Manager) has managed the fund since 2018.

Purchase and Sale of Shares

You may buy or sell shares through a Fidelity® brokerage or mutual fund account, through a retirement account, or through an investment professional.

You may buy or sell shares in various ways:

Internet

Plan Accounts:	All Other Accounts:
www.401k.com	www.fidelity.com

Phone

Plan Accounts:

For Individual Accounts (investing through a retirement plan sponsor or other institution), refer to your plan materials or contact that institution directly.

For Retirement Plan Level Accounts:

Corporate Clients 1-800-962-1375

"Not for Profit" Clients 1-800-343-0860

All Other Accounts:

Fidelity Automated Service Telephone (FAST®) 1-800-544-5555

To reach a Fidelity representative 1-800-544-6666

Mail

Plan Accounts:
Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035	Overnight Express:   Fidelity Investments 100 Crosby Parkway Covington, KY 41015
All Other Accounts:
Additional Purchases:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0003	Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035

TDD - Service for the Deaf and Hearing Impaired

All Accounts:

1-800-544-0118

Shares of the fund are not eligible for purchase by registered investment companies or business development companies to the extent such acquisition is in reliance on Rule 12d1-4 under the Investment Company Act of 1940.

The price to buy one share is its net asset value per share (NAV). Shares will be bought at the NAV next calculated after an order is received in proper form.

The price to sell one share is its NAV. Shares will be sold at the NAV next calculated after an order is received in proper form.

The fund is open for business each day the New York Stock Exchange (NYSE) is open.

Institutional Premium Class and Premier Class shares have a minimum initial investment of $5,000,000 and $2,000,000,000, respectively. The fund may waive or lower purchase minimums in other circumstances.

Tax Information

Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to Broker-Dealers and Other Financial Intermediaries

The fund, the Adviser, Fidelity Distributors Company LLC (FDC), and/or their affiliates may pay intermediaries, which may include banks, broker-dealers, retirement plan sponsors, administrators, or service-providers (who may be affiliated with the Adviser or FDC), for the sale of fund shares and related services. These payments may create a conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.

 

Fund Summary

Fund/Class:

Fidelity Freedom® Index 2015 Fund

/Institutional Premium, Premier 

 

Investment Objective

 

Fidelity Freedom® Index 2015 Fund seeks high total return until its target retirement date. Thereafter the fund's objective will be to seek high current income and, as a secondary objective, capital appreciation.

Fee Table

The following table describes the fees and expenses that may be incurred when you buy, hold, and sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund.

 

 

Shareholder fees

(fees paid directly from your investment)

None

 

Annual Operating Expenses

(expenses that you pay each year as a % of the value of your investment)

	Institutional Premium Class	Premier Class
Management fee	0.08%	0.06%
Distribution and/or Service (12b-1) fees	None	None
Other expenses	0.00%	0.00%
Total annual operating expenses	0.08%	0.06%

This example helps compare the cost of investing in the fund with the cost of investing in other funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

 

 

	Institutional Premium Class		Premier Class
1 year	$	8	$	6
3 years	$	26	$	19
5 years	$	45	$	34
10 years	$	103	$	77

 

 

Portfolio Turnover

 

The fund will not incur transaction costs, such as commissions, when it buys and sells shares of underlying Fidelity® funds (or "turns over" its portfolio), but it could incur transaction costs if it were to buy and sell other types of securities directly. If the fund were to buy and sell other types of securities directly, a higher portfolio turnover rate could indicate higher transaction costs and could result in higher taxes when fund shares are held in a taxable account. Such costs, if incurred, would not be reflected in annual operating expenses or in the example and would affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 22% of the average value of its portfolio.

Principal Investment Strategies

• Investing primarily in a combination of Fidelity® U.S. equity funds, international equity funds, bond funds, and short-term funds (underlying Fidelity® funds), each of which (excluding any money market fund) seeks to provide investment results that correspond to the total return of a specific index.
• Allocating assets according to an asset allocation strategy shown in the glide path below that adjusts over time until it reaches an allocation similar to that of the Fidelity Freedom® Index Income Fund, approximately 10 to 19 years after the year 2015. Fidelity Management & Research Company LLC (FMR) (the Adviser) may modify the fund's asset allocations from time to time when in the interests of shareholders.

• The asset allocation shown in the glide path depicts the allocation to U.S. equity funds, international equity funds, bond funds (including U.S. investment grade bond, international bond, inflation-protected bond, and long-term treasury bond), and short-term funds.
• Buying and selling futures contracts (both long and short positions) in an effort to manage cash flows efficiently, remain fully invested, or facilitate asset allocation.
• The Adviser, under normal market conditions, will make investments that are consistent with seeking high total return for several years beyond the fund's target retirement date in an effort to achieve the fund's overall investment objective.
• Using an asset allocation among underlying Fidelity® funds and futures as of April 1, 2023, of approximately:

	U.S. Equity Funds 23%
	International Equity Funds 15%
	International Bond Funds 5%
	U.S. Investment Grade Bond Funds 36%
	Long-Term Treasury Bond Funds 3%
	Long-Term Inflation-Protected Bond Funds 5%
	Short-Term Inflation-Protected Bond Funds 8%
	Short-Term Funds 4%

* The Adviser may change these percentages over time. The allocation percentages may not add to 100% due to rounding.

• Designed for investors who retired in or within a few years of 2015 (target retirement date) at or around age 65.

When the asset allocation of a fund matches Fidelity Freedom® Index Income Fund's asset allocation (approximately 10 to 19 years after the year indicated in the fund's name), the Board of Trustees may combine the fund with Fidelity Freedom® Index Income Fund, without shareholder approval, and the fund's shareholders will become shareholders of Fidelity Freedom® Index Income Fund.

Principal Investment Risks

Shareholders should consider that no target date fund is intended as a complete retirement program and there is no guarantee that any single fund will provide sufficient retirement income at or through your retirement. The fund's share price fluctuates, which means you could lose money by investing in the fund, including losses near, at or after the target retirement date.

• Asset Allocation Risk.

The fund is subject to risks resulting from the Adviser's asset allocation decisions. The selection of underlying funds and the allocation of the fund's assets among various asset classes could cause the fund to lose value or its results to lag relevant benchmarks or other funds with similar objectives.

• Investing in Other Funds.

The fund bears all risks of investment strategies employed by the underlying funds, including the risk that the underlying funds will not meet their investment objectives.

• Stock Market Volatility.

The Adviser will continue to invest the fund's assets in equity funds in the years following the fund's target retirement date in an effort to achieve the fund's overall investment objective. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.

• Interest Rate Changes.

Interest rate increases can cause the price of a debt security to decrease.

• Foreign Exposure.

Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Foreign exchange rates also can be extremely volatile.

• Industry Exposure.

Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect a single industry or group of related industries.

• Prepayment.

The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility if interest rates change.

• Issuer-Specific Changes.

The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

Changes in the financial condition of an issuer or counterparty (e.g., broker-dealer or other borrower in a securities lending transaction) can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's value or result in delays in recovering securities and/or capital from a counterparty.

A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security to decrease.

• Correlation to Index.

The performance of an underlying index fund and its index may vary somewhat due to factors such as fees and expenses of the underlying fund, transaction costs, sample selection, regulatory restrictions, and timing differences associated with additions to and deletions from the index. Errors in the construction or calculation of the index may occur from time to time and may not be identified and corrected for some period of time, which may have an adverse impact on an underlying fund and its shareholders.

• Passive Management Risk.

Some of the underlying funds in which the fund invests are managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities, regardless of the current or projected performance of an underlying fund's index or of the actual securities included in the index. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the performance of these underlying funds could be lower than actively managed funds that may shift their portfolio assets to take advantage of market opportunities or lessen the impact of a market decline or a decline in the value of one or more issuers. An underlying index fund may be concentrated to approximately the same extent that its index concentrates in the securities of issuers in a particular industry or group of industries.

• Leverage Risk.

Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.

• Inflation-Protected Debt Exposure.

Increases in real interest rates can cause the price of inflation-protected debt securities to decrease. Interest payments on inflation-protected debt securities can be unpredictable.

• Securities Lending Risk.

Securities lending involves the risk that the borrower may fail to return the securities loaned in a timely manner or at all. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, an underlying fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

 

Performance

The following information is intended to help you understand the risks of investing in the fund.

The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and a hypothetical composite of market indexes over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.401k.com and log in (plan accounts) or www.fidelity.com (all other accounts) for more recent performance information.

 

Year-by-Year Returns

 

				2016	2017	2018	2019	2020	2021	2022
				6.46%	12.66%	-3.17%	16.52%	11.60%	6.83%	-14.46%

During the periods shown in the chart for Institutional Premium Class:	Returns	Quarter ended
Highest Quarter Return	9.70%	June 30, 2020
Lowest Quarter Return	-9.05%	June 30, 2022
Year-to-Date Return	4.79%	March 31, 2023

 

Average Annual Returns

 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After-tax returns for Institutional Premium Class are shown in the table below and after-tax returns for other classes will vary. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.

For the periods ended December 31, 2022	Past 1 year	Past 5 years	Life of class
Institutional Premium Class - Return Before Taxes	-14.46%	2.85%	3.89%A
Return After Taxes on Distributions	-15.36%	1.22%	2.54%A
- Return After Taxes on Distributions and Sale of Fund Shares	-8.40%	1.91%	2.75%A
Premier Class - Return Before Taxes	-14.38%	-	0.76%B
Bloomberg U.S. Aggregate Bond Index (reflects no deduction for fees, expenses, or taxes)	-13.01%	0.02%	0.93%
Fidelity Freedom Index 2015 Composite Index℠ (reflects no deduction for fees or expenses)	-14.37%	2.96%	4.00%

AFrom June 24, 2015.

 

BFrom June 24, 2020.

Investment Adviser

FMR (the Adviser) is the fund's manager.

Portfolio Manager(s)

Andrew Dierdorf (Co-Portfolio Manager) has managed the fund since 2009.

Brett Sumsion (Co-Portfolio Manager) has managed the fund since 2014.

Finola McGuire Foley (Co-Portfolio Manager) has managed the fund since 2018.

Purchase and Sale of Shares

You may buy or sell shares through a Fidelity® brokerage or mutual fund account, through a retirement account, or through an investment professional.

You may buy or sell shares in various ways:

Internet

Plan Accounts:	All Other Accounts:
www.401k.com	www.fidelity.com

Phone

Plan Accounts:

For Individual Accounts (investing through a retirement plan sponsor or other institution), refer to your plan materials or contact that institution directly.

For Retirement Plan Level Accounts:

Corporate Clients 1-800-962-1375

"Not for Profit" Clients 1-800-343-0860

All Other Accounts:

Fidelity Automated Service Telephone (FAST®) 1-800-544-5555

To reach a Fidelity representative 1-800-544-6666

Mail

Plan Accounts:
Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035	Overnight Express:   Fidelity Investments 100 Crosby Parkway Covington, KY 41015
All Other Accounts:
Additional Purchases:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0003	Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035

TDD - Service for the Deaf and Hearing Impaired

All Accounts:

1-800-544-0118

Shares of the fund are not eligible for purchase by registered investment companies or business development companies to the extent such acquisition is in reliance on Rule 12d1-4 under the Investment Company Act of 1940.

The price to buy one share is its net asset value per share (NAV). Shares will be bought at the NAV next calculated after an order is received in proper form.

The price to sell one share is its NAV. Shares will be sold at the NAV next calculated after an order is received in proper form.

The fund is open for business each day the New York Stock Exchange (NYSE) is open.

Institutional Premium Class and Premier Class shares have a minimum initial investment of $5,000,000 and $2,000,000,000, respectively. The fund may waive or lower purchase minimums in other circumstances.

Tax Information

Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to Broker-Dealers and Other Financial Intermediaries

The fund, the Adviser, Fidelity Distributors Company LLC (FDC), and/or their affiliates may pay intermediaries, which may include banks, broker-dealers, retirement plan sponsors, administrators, or service-providers (who may be affiliated with the Adviser or FDC), for the sale of fund shares and related services. These payments may create a conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.

 

Fund Summary

Fund/Class:

Fidelity Freedom® Index 2020 Fund

/Institutional Premium, Premier 

 

Investment Objective

 

Fidelity Freedom® Index 2020 Fund seeks high total return until its target retirement date. Thereafter the fund's objective will be to seek high current income and, as a secondary objective, capital appreciation.

Fee Table

The following table describes the fees and expenses that may be incurred when you buy, hold, and sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund.

 

 

Shareholder fees

(fees paid directly from your investment)

None

 

Annual Operating Expenses

(expenses that you pay each year as a % of the value of your investment)

	Institutional Premium Class	Premier Class
Management fee	0.08%	0.06%
Distribution and/or Service (12b-1) fees	None	None
Other expenses	0.00%	0.00%
Total annual operating expenses	0.08%	0.06%

This example helps compare the cost of investing in the fund with the cost of investing in other funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

 

 

	Institutional Premium Class		Premier Class
1 year	$	8	$	6
3 years	$	26	$	19
5 years	$	45	$	34
10 years	$	103	$	77

 

 

Portfolio Turnover

 

The fund will not incur transaction costs, such as commissions, when it buys and sells shares of underlying Fidelity® funds (or "turns over" its portfolio), but it could incur transaction costs if it were to buy and sell other types of securities directly. If the fund were to buy and sell other types of securities directly, a higher portfolio turnover rate could indicate higher transaction costs and could result in higher taxes when fund shares are held in a taxable account. Such costs, if incurred, would not be reflected in annual operating expenses or in the example and would affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 21% of the average value of its portfolio.

Principal Investment Strategies

• Investing primarily in a combination of Fidelity® U.S. equity funds, international equity funds, bond funds, and short-term funds (underlying Fidelity® funds), each of which (excluding any money market fund) seeks to provide investment results that correspond to the total return of a specific index.
• Allocating assets according to an asset allocation strategy shown in the glide path below that adjusts over time until it reaches an allocation similar to that of the Fidelity Freedom® Index Income Fund, approximately 10 to 19 years after the year 2020. Fidelity Management & Research Company LLC (FMR) (the Adviser) may modify the fund's asset allocations from time to time when in the interests of shareholders.

• The asset allocation shown in the glide path depicts the allocation to U.S. equity funds, international equity funds, bond funds (including U.S. investment grade bond, international bond, inflation-protected bond, and long-term treasury bond), and short-term funds.
• Buying and selling futures contracts (both long and short positions) in an effort to manage cash flows efficiently, remain fully invested, or facilitate asset allocation.
• The Adviser, under normal market conditions, will make investments that are consistent with seeking high total return for several years beyond the fund's target retirement date in an effort to achieve the fund's overall investment objective.
• Using an asset allocation among underlying Fidelity® funds and futures as of April 1, 2023, of approximately:

	U.S. Equity Funds 28%
	International Equity Funds 19%
	International Bond Funds 5%
	U.S. Investment Grade Bond Funds 32%
	Long-Term Treasury Bond Funds 4%
	Long-Term Inflation-Protected Bond Funds 8%
	Short-Term Inflation-Protected Bond Funds 3%
	Short-Term Funds 2%

* The Adviser may change these percentages over time. The allocation percentages may not add to 100% due to rounding.

• Designed for investors who retired in or within a few years of 2020 (target retirement date) at or around age 65.

When the asset allocation of a fund matches Fidelity Freedom® Index Income Fund's asset allocation (approximately 10 to 19 years after the year indicated in the fund's name), the Board of Trustees may combine the fund with Fidelity Freedom® Index Income Fund, without shareholder approval, and the fund's shareholders will become shareholders of Fidelity Freedom® Index Income Fund.

Principal Investment Risks

Shareholders should consider that no target date fund is intended as a complete retirement program and there is no guarantee that any single fund will provide sufficient retirement income at or through your retirement. The fund's share price fluctuates, which means you could lose money by investing in the fund, including losses near, at or after the target retirement date.

• Asset Allocation Risk.

The fund is subject to risks resulting from the Adviser's asset allocation decisions. The selection of underlying funds and the allocation of the fund's assets among various asset classes could cause the fund to lose value or its results to lag relevant benchmarks or other funds with similar objectives.

• Investing in Other Funds.

The fund bears all risks of investment strategies employed by the underlying funds, including the risk that the underlying funds will not meet their investment objectives.

• Stock Market Volatility.

The Adviser will continue to invest the fund's assets in equity funds in the years following the fund's target retirement date in an effort to achieve the fund's overall investment objective. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.

• Interest Rate Changes.

Interest rate increases can cause the price of a debt security to decrease.

• Foreign Exposure.

Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Foreign exchange rates also can be extremely volatile.

• Industry Exposure.

Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect a single industry or group of related industries.

• Prepayment.

The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility if interest rates change.

• Issuer-Specific Changes.

The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

Changes in the financial condition of an issuer or counterparty (e.g., broker-dealer or other borrower in a securities lending transaction) can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's value or result in delays in recovering securities and/or capital from a counterparty.

A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security to decrease.

• Correlation to Index.

The performance of an underlying index fund and its index may vary somewhat due to factors such as fees and expenses of the underlying fund, transaction costs, sample selection, regulatory restrictions, and timing differences associated with additions to and deletions from the index. Errors in the construction or calculation of the index may occur from time to time and may not be identified and corrected for some period of time, which may have an adverse impact on an underlying fund and its shareholders.

• Passive Management Risk.

Some of the underlying funds in which the fund invests are managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities, regardless of the current or projected performance of an underlying fund's index or of the actual securities included in the index. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the performance of these underlying funds could be lower than actively managed funds that may shift their portfolio assets to take advantage of market opportunities or lessen the impact of a market decline or a decline in the value of one or more issuers. An underlying index fund may be concentrated to approximately the same extent that its index concentrates in the securities of issuers in a particular industry or group of industries.

• Leverage Risk.

Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.

• Inflation-Protected Debt Exposure.

Increases in real interest rates can cause the price of inflation-protected debt securities to decrease. Interest payments on inflation-protected debt securities can be unpredictable.

• Securities Lending Risk.

Securities lending involves the risk that the borrower may fail to return the securities loaned in a timely manner or at all. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, an underlying fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

 

Performance

The following information is intended to help you understand the risks of investing in the fund.

The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and a hypothetical composite of market indexes over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.401k.com and log in (plan accounts) or www.fidelity.com (all other accounts) for more recent performance information.

 

Year-by-Year Returns

 

				2016	2017	2018	2019	2020	2021	2022
				7.07%	13.95%	-3.87%	18.30%	12.74%	8.39%	-15.88%

During the periods shown in the chart for Institutional Premium Class:	Returns	Quarter ended
Highest Quarter Return	11.18%	June 30, 2020
Lowest Quarter Return	-10.44%	June 30, 2022
Year-to-Date Return	5.25%	March 31, 2023

 

Average Annual Returns

 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After-tax returns for Institutional Premium Class are shown in the table below and after-tax returns for other classes will vary. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.

For the periods ended December 31, 2022	Past 1 year	Past 5 years	Life of class
Institutional Premium Class - Return Before Taxes	-15.88%	3.17%	4.29%A
Return After Taxes on Distributions	-16.70%	1.65%	3.01%A
- Return After Taxes on Distributions and Sale of Fund Shares	-9.22%	2.19%	3.09%A
Premier Class - Return Before Taxes	-15.92%	-	1.42%B
Bloomberg U.S. Aggregate Bond Index (reflects no deduction for fees, expenses, or taxes)	-13.01%	0.02%	0.93%
Fidelity Freedom Index 2020 Composite Index℠ (reflects no deduction for fees or expenses)	-15.86%	3.28%	4.39%

AFrom June 24, 2015.

 

BFrom June 24, 2020.

Investment Adviser

FMR (the Adviser) is the fund's manager.

Portfolio Manager(s)

Andrew Dierdorf (Co-Portfolio Manager) has managed the fund since 2009.

Brett Sumsion (Co-Portfolio Manager) has managed the fund since 2014.

Finola McGuire Foley (Co-Portfolio Manager) has managed the fund since 2018.

Purchase and Sale of Shares

You may buy or sell shares through a Fidelity® brokerage or mutual fund account, through a retirement account, or through an investment professional.

You may buy or sell shares in various ways:

Internet

Plan Accounts:	All Other Accounts:
www.401k.com	www.fidelity.com

Phone

Plan Accounts:

For Individual Accounts (investing through a retirement plan sponsor or other institution), refer to your plan materials or contact that institution directly.

For Retirement Plan Level Accounts:

Corporate Clients 1-800-962-1375

"Not for Profit" Clients 1-800-343-0860

All Other Accounts:

Fidelity Automated Service Telephone (FAST®) 1-800-544-5555

To reach a Fidelity representative 1-800-544-6666

Mail

Plan Accounts:
Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035	Overnight Express:   Fidelity Investments 100 Crosby Parkway Covington, KY 41015
All Other Accounts:
Additional Purchases:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0003	Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035

TDD - Service for the Deaf and Hearing Impaired

All Accounts:

1-800-544-0118

Shares of the fund are not eligible for purchase by registered investment companies or business development companies to the extent such acquisition is in reliance on Rule 12d1-4 under the Investment Company Act of 1940.

The price to buy one share is its net asset value per share (NAV). Shares will be bought at the NAV next calculated after an order is received in proper form.

The price to sell one share is its NAV. Shares will be sold at the NAV next calculated after an order is received in proper form.

The fund is open for business each day the New York Stock Exchange (NYSE) is open.

Institutional Premium Class and Premier Class shares have a minimum initial investment of $5,000,000 and $2,000,000,000, respectively. The fund may waive or lower purchase minimums in other circumstances.

Tax Information

Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to Broker-Dealers and Other Financial Intermediaries

The fund, the Adviser, Fidelity Distributors Company LLC (FDC), and/or their affiliates may pay intermediaries, which may include banks, broker-dealers, retirement plan sponsors, administrators, or service-providers (who may be affiliated with the Adviser or FDC), for the sale of fund shares and related services. These payments may create a conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.

 

Fund Summary

Fund/Class:

Fidelity Freedom® Index 2025 Fund

/Institutional Premium, Premier 

 

Investment Objective

 

Fidelity Freedom® Index 2025 Fund seeks high total return until its target retirement date. Thereafter the fund's objective will be to seek high current income and, as a secondary objective, capital appreciation.

Fee Table

The following table describes the fees and expenses that may be incurred when you buy, hold, and sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund.

 

 

Shareholder fees

(fees paid directly from your investment)

None

 

Annual Operating Expenses

(expenses that you pay each year as a % of the value of your investment)

	Institutional Premium Class	Premier Class
Management fee	0.08%	0.06%
Distribution and/or Service (12b-1) fees	None	None
Other expenses	0.00%	0.00%
Total annual operating expenses	0.08%	0.06%

This example helps compare the cost of investing in the fund with the cost of investing in other funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

 

 

	Institutional Premium Class		Premier Class
1 year	$	8	$	6
3 years	$	26	$	19
5 years	$	45	$	34
10 years	$	103	$	77

 

 

Portfolio Turnover

 

The fund will not incur transaction costs, such as commissions, when it buys and sells shares of underlying Fidelity® funds (or "turns over" its portfolio), but it could incur transaction costs if it were to buy and sell other types of securities directly. If the fund were to buy and sell other types of securities directly, a higher portfolio turnover rate could indicate higher transaction costs and could result in higher taxes when fund shares are held in a taxable account. Such costs, if incurred, would not be reflected in annual operating expenses or in the example and would affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 18% of the average value of its portfolio.

Principal Investment Strategies

• Investing primarily in a combination of Fidelity® U.S. equity funds, international equity funds, bond funds, and short-term funds (underlying Fidelity® funds), each of which (excluding any money market fund) seeks to provide investment results that correspond to the total return of a specific index.
• Allocating assets according to an asset allocation strategy shown in the glide path below that adjusts over time until it reaches an allocation similar to that of the Fidelity Freedom® Index Income Fund, approximately 10 to 19 years after the year 2025. Fidelity Management & Research Company LLC (FMR) (the Adviser) may modify the fund's asset allocations from time to time when in the interests of shareholders.

• The asset allocation shown in the glide path depicts the allocation to U.S. equity funds, international equity funds, bond funds (including U.S. investment grade bond, international bond, inflation-protected bond, and long-term treasury bond), and short-term funds.
• Buying and selling futures contracts (both long and short positions) in an effort to manage cash flows efficiently, remain fully invested, or facilitate asset allocation.
• The Adviser, under normal market conditions, will make investments that are consistent with seeking high total return for several years beyond the fund's target retirement date in an effort to achieve the fund's overall investment objective.
• Using an asset allocation among underlying Fidelity® funds and futures as of April 1, 2023, of approximately:

	U.S. Equity Funds 33%
	International Equity Funds 22%
	International Bond Funds 5%
	U.S. Investment Grade Bond Funds 28%
	Long-Term Treasury Bond Funds 4%
	Long-Term Inflation-Protected Bond Funds 8%
	Short-Term Inflation-Protected Bond Funds 0%
	Short-Term Funds 0%

* The Adviser may change these percentages over time. The allocation percentages may not add to 100% due to rounding.

• Designed for investors who anticipate retiring in or within a few years of 2025 (target retirement date) at or around age 65.

When the asset allocation of a fund matches Fidelity Freedom® Index Income Fund's asset allocation (approximately 10 to 19 years after the year indicated in the fund's name), the Board of Trustees may combine the fund with Fidelity Freedom® Index Income Fund, without shareholder approval, and the fund's shareholders will become shareholders of Fidelity Freedom® Index Income Fund.

Principal Investment Risks

Shareholders should consider that no target date fund is intended as a complete retirement program and there is no guarantee that any single fund will provide sufficient retirement income at or through your retirement. The fund's share price fluctuates, which means you could lose money by investing in the fund, including losses near, at or after the target retirement date.

• Asset Allocation Risk.

The fund is subject to risks resulting from the Adviser's asset allocation decisions. The selection of underlying funds and the allocation of the fund's assets among various asset classes could cause the fund to lose value or its results to lag relevant benchmarks or other funds with similar objectives.

• Investing in Other Funds.

The fund bears all risks of investment strategies employed by the underlying funds, including the risk that the underlying funds will not meet their investment objectives.

• Stock Market Volatility.

The Adviser will continue to invest the fund's assets in equity funds in the years following the fund's target retirement date in an effort to achieve the fund's overall investment objective. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.

• Interest Rate Changes.

Interest rate increases can cause the price of a debt security to decrease.

• Foreign Exposure.

Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Foreign exchange rates also can be extremely volatile.

• Industry Exposure.

Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect a single industry or group of related industries.

• Prepayment.

The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility if interest rates change.

• Issuer-Specific Changes.

The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

Changes in the financial condition of an issuer or counterparty (e.g., broker-dealer or other borrower in a securities lending transaction) can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's value or result in delays in recovering securities and/or capital from a counterparty.

A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security to decrease.

• Correlation to Index.

The performance of an underlying index fund and its index may vary somewhat due to factors such as fees and expenses of the underlying fund, transaction costs, sample selection, regulatory restrictions, and timing differences associated with additions to and deletions from the index. Errors in the construction or calculation of the index may occur from time to time and may not be identified and corrected for some period of time, which may have an adverse impact on an underlying fund and its shareholders.

• Passive Management Risk.

Some of the underlying funds in which the fund invests are managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities, regardless of the current or projected performance of an underlying fund's index or of the actual securities included in the index. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the performance of these underlying funds could be lower than actively managed funds that may shift their portfolio assets to take advantage of market opportunities or lessen the impact of a market decline or a decline in the value of one or more issuers. An underlying index fund may be concentrated to approximately the same extent that its index concentrates in the securities of issuers in a particular industry or group of industries.

• Leverage Risk.

Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.

• Securities Lending Risk.

Securities lending involves the risk that the borrower may fail to return the securities loaned in a timely manner or at all. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, an underlying fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

 

Performance

The following information is intended to help you understand the risks of investing in the fund.

The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and a hypothetical composite of market indexes over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.401k.com and log in (plan accounts) or www.fidelity.com (all other accounts) for more recent performance information.

 

Year-by-Year Returns

 

				2016	2017	2018	2019	2020	2021	2022
				7.53%	15.20%	-4.46%	19.73%	13.58%	9.62%	-16.58%

During the periods shown in the chart for Institutional Premium Class:	Returns	Quarter ended
Highest Quarter Return	12.44%	June 30, 2020
Lowest Quarter Return	-11.59%	March 31, 2020
Year-to-Date Return	5.66%	March 31, 2023

 

Average Annual Returns

 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After-tax returns for Institutional Premium Class are shown in the table below and after-tax returns for other classes will vary. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.

For the periods ended December 31, 2022	Past 1 year	Past 5 years	Life of class
Institutional Premium Class - Return Before Taxes	-16.58%	3.51%	4.65%A
Return After Taxes on Distributions	-17.30%	2.20%	3.52%A
- Return After Taxes on Distributions and Sale of Fund Shares	-9.65%	2.46%	3.39%A
Premier Class - Return Before Taxes	-16.56%	-	2.12%B
S&P 500® Index (reflects no deduction for fees, expenses, or taxes)	-18.11%	9.42%	12.68%
Fidelity Freedom Index 2025 Composite Index℠ (reflects no deduction for fees or expenses)	-16.51%	3.61%	7.29%

AFrom June 24, 2015.

 

BFrom June 24, 2020.

Investment Adviser

FMR (the Adviser) is the fund's manager.

Portfolio Manager(s)

Andrew Dierdorf (Co-Portfolio Manager) has managed the fund since 2009.

Brett Sumsion (Co-Portfolio Manager) has managed the fund since 2014.

Finola McGuire Foley (Co-Portfolio Manager) has managed the fund since 2018.

Purchase and Sale of Shares

You may buy or sell shares through a Fidelity® brokerage or mutual fund account, through a retirement account, or through an investment professional.

You may buy or sell shares in various ways:

Internet

Plan Accounts:	All Other Accounts:
www.401k.com	www.fidelity.com

Phone

Plan Accounts:

For Individual Accounts (investing through a retirement plan sponsor or other institution), refer to your plan materials or contact that institution directly.

For Retirement Plan Level Accounts:

Corporate Clients 1-800-962-1375

"Not for Profit" Clients 1-800-343-0860

All Other Accounts:

Fidelity Automated Service Telephone (FAST®) 1-800-544-5555

To reach a Fidelity representative 1-800-544-6666

Mail

Plan Accounts:
Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035	Overnight Express:   Fidelity Investments 100 Crosby Parkway Covington, KY 41015
All Other Accounts:
Additional Purchases:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0003	Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035

TDD - Service for the Deaf and Hearing Impaired

All Accounts:

1-800-544-0118

Shares of the fund are not eligible for purchase by registered investment companies or business development companies to the extent such acquisition is in reliance on Rule 12d1-4 under the Investment Company Act of 1940.

The price to buy one share is its net asset value per share (NAV). Shares will be bought at the NAV next calculated after an order is received in proper form.

The price to sell one share is its NAV. Shares will be sold at the NAV next calculated after an order is received in proper form.

The fund is open for business each day the New York Stock Exchange (NYSE) is open.

Institutional Premium Class and Premier Class shares have a minimum initial investment of $5,000,000 and $2,000,000,000, respectively. The fund may waive or lower purchase minimums in other circumstances.

Tax Information

Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to Broker-Dealers and Other Financial Intermediaries

The fund, the Adviser, Fidelity Distributors Company LLC (FDC), and/or their affiliates may pay intermediaries, which may include banks, broker-dealers, retirement plan sponsors, administrators, or service-providers (who may be affiliated with the Adviser or FDC), for the sale of fund shares and related services. These payments may create a conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.

 

Fund Summary

Fund/Class:

Fidelity Freedom® Index 2030 Fund

/Institutional Premium, Premier 

 

Investment Objective

 

Fidelity Freedom® Index 2030 Fund seeks high total return until its target retirement date. Thereafter the fund's objective will be to seek high current income and, as a secondary objective, capital appreciation.

Fee Table

The following table describes the fees and expenses that may be incurred when you buy, hold, and sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund.

 

 

Shareholder fees

(fees paid directly from your investment)

None

 

Annual Operating Expenses

(expenses that you pay each year as a % of the value of your investment)

	Institutional Premium Class	Premier Class
Management fee	0.08%	0.06%
Distribution and/or Service (12b-1) fees	None	None
Other expenses	0.00%	0.00%
Total annual operating expenses	0.08%	0.06%

This example helps compare the cost of investing in the fund with the cost of investing in other funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

 

 

	Institutional Premium Class		Premier Class
1 year	$	8	$	6
3 years	$	26	$	19
5 years	$	45	$	34
10 years	$	103	$	77

 

 

Portfolio Turnover

 

The fund will not incur transaction costs, such as commissions, when it buys and sells shares of underlying Fidelity® funds (or "turns over" its portfolio), but it could incur transaction costs if it were to buy and sell other types of securities directly. If the fund were to buy and sell other types of securities directly, a higher portfolio turnover rate could indicate higher transaction costs and could result in higher taxes when fund shares are held in a taxable account. Such costs, if incurred, would not be reflected in annual operating expenses or in the example and would affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 15% of the average value of its portfolio.

Principal Investment Strategies

• Investing primarily in a combination of Fidelity® U.S. equity funds, international equity funds, bond funds, and short-term funds (underlying Fidelity® funds), each of which (excluding any money market fund) seeks to provide investment results that correspond to the total return of a specific index.
• Allocating assets according to an asset allocation strategy shown in the glide path below that adjusts over time until it reaches an allocation similar to that of the Fidelity Freedom® Index Income Fund, approximately 10 to 19 years after the year 2030. Fidelity Management & Research Company LLC (FMR) (the Adviser) may modify the fund's asset allocations from time to time when in the interests of shareholders.

• The asset allocation shown in the glide path depicts the allocation to U.S. equity funds, international equity funds, bond funds (including U.S. investment grade bond, international bond, inflation-protected bond, and long-term treasury bond), and short-term funds.
• Buying and selling futures contracts (both long and short positions) in an effort to manage cash flows efficiently, remain fully invested, or facilitate asset allocation.
• The Adviser, under normal market conditions, will make investments that are consistent with seeking high total return for several years beyond the fund's target retirement date in an effort to achieve the fund's overall investment objective.
• Using an asset allocation among underlying Fidelity® funds and futures as of April 1, 2023, of approximately:

	U.S. Equity Funds 37%
	International Equity Funds 24%
	International Bond Funds 5%
	U.S. Investment Grade Bond Funds 26%
	Long-Term Treasury Bond Funds 5%
	Long-Term Inflation-Protected Bond Funds 4%
	Short-Term Inflation-Protected Bond Funds 0%
	Short-Term Funds 0%

* The Adviser may change these percentages over time. The allocation percentages may not add to 100% due to rounding.

• Designed for investors who anticipate retiring in or within a few years of 2030 (target retirement date) at or around age 65.

When the asset allocation of a fund matches Fidelity Freedom® Index Income Fund's asset allocation (approximately 10 to 19 years after the year indicated in the fund's name), the Board of Trustees may combine the fund with Fidelity Freedom® Index Income Fund, without shareholder approval, and the fund's shareholders will become shareholders of Fidelity Freedom® Index Income Fund.

Principal Investment Risks

Shareholders should consider that no target date fund is intended as a complete retirement program and there is no guarantee that any single fund will provide sufficient retirement income at or through your retirement. The fund's share price fluctuates, which means you could lose money by investing in the fund, including losses near, at or after the target retirement date.

• Asset Allocation Risk.

The fund is subject to risks resulting from the Adviser's asset allocation decisions. The selection of underlying funds and the allocation of the fund's assets among various asset classes could cause the fund to lose value or its results to lag relevant benchmarks or other funds with similar objectives.

• Investing in Other Funds.

The fund bears all risks of investment strategies employed by the underlying funds, including the risk that the underlying funds will not meet their investment objectives.

• Stock Market Volatility.

The Adviser will continue to invest the fund's assets in equity funds in the years following the fund's target retirement date in an effort to achieve the fund's overall investment objective. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.

• Interest Rate Changes.

Interest rate increases can cause the price of a debt security to decrease.

• Foreign Exposure.

Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Foreign exchange rates also can be extremely volatile.

• Industry Exposure.

Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect a single industry or group of related industries.

• Prepayment.

The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility if interest rates change.

• Issuer-Specific Changes.

The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

Changes in the financial condition of an issuer or counterparty (e.g., broker-dealer or other borrower in a securities lending transaction) can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's value or result in delays in recovering securities and/or capital from a counterparty.

A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security to decrease.

• Correlation to Index.

The performance of an underlying index fund and its index may vary somewhat due to factors such as fees and expenses of the underlying fund, transaction costs, sample selection, regulatory restrictions, and timing differences associated with additions to and deletions from the index. Errors in the construction or calculation of the index may occur from time to time and may not be identified and corrected for some period of time, which may have an adverse impact on an underlying fund and its shareholders.

• Passive Management Risk.

Some of the underlying funds in which the fund invests are managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities, regardless of the current or projected performance of an underlying fund's index or of the actual securities included in the index. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the performance of these underlying funds could be lower than actively managed funds that may shift their portfolio assets to take advantage of market opportunities or lessen the impact of a market decline or a decline in the value of one or more issuers. An underlying index fund may be concentrated to approximately the same extent that its index concentrates in the securities of issuers in a particular industry or group of industries.

• Leverage Risk.

Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.

• Securities Lending Risk.

Securities lending involves the risk that the borrower may fail to return the securities loaned in a timely manner or at all. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, an underlying fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

 

Performance

The following information is intended to help you understand the risks of investing in the fund.

The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and a hypothetical composite of market indexes over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.401k.com and log in (plan accounts) or www.fidelity.com (all other accounts) for more recent performance information.

 

Year-by-Year Returns

 

				2016	2017	2018	2019	2020	2021	2022
				8.70%	18.03%	-5.43%	22.18%	14.36%	10.94%	-16.83%

During the periods shown in the chart for Institutional Premium Class:	Returns	Quarter ended
Highest Quarter Return	14.12%	June 30, 2020
Lowest Quarter Return	-13.86%	March 31, 2020
Year-to-Date Return	5.89%	March 31, 2023

 

Average Annual Returns

 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After-tax returns for Institutional Premium Class are shown in the table below and after-tax returns for other classes will vary. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.

For the periods ended December 31, 2022	Past 1 year	Past 5 years	Life of class
Institutional Premium Class - Return Before Taxes	-16.83%	4.04%	5.35%A
Return After Taxes on Distributions	-17.46%	2.65%	4.18%A
- Return After Taxes on Distributions and Sale of Fund Shares	-9.78%	2.90%	3.98%A
Premier Class - Return Before Taxes	-16.77%	-	3.26%B
S&P 500® Index (reflects no deduction for fees, expenses, or taxes)	-18.11%	9.42%	10.34%
Fidelity Freedom Index 2030 Composite Index℠ (reflects no deduction for fees or expenses)	-16.76%	4.14%	5.46%

AFrom June 24, 2015.

 

BFrom June 24, 2020.

Investment Adviser

FMR (the Adviser) is the fund's manager.

Portfolio Manager(s)

Andrew Dierdorf (Co-Portfolio Manager) has managed the fund since 2009.

Brett Sumsion (Co-Portfolio Manager) has managed the fund since 2014.

Finola McGuire Foley (Co-Portfolio Manager) has managed the fund since 2018.

Purchase and Sale of Shares

You may buy or sell shares through a Fidelity® brokerage or mutual fund account, through a retirement account, or through an investment professional.

You may buy or sell shares in various ways:

Internet

Plan Accounts:	All Other Accounts:
www.401k.com	www.fidelity.com

Phone

Plan Accounts:

For Individual Accounts (investing through a retirement plan sponsor or other institution), refer to your plan materials or contact that institution directly.

For Retirement Plan Level Accounts:

Corporate Clients 1-800-962-1375

"Not for Profit" Clients 1-800-343-0860

All Other Accounts:

Fidelity Automated Service Telephone (FAST®) 1-800-544-5555

To reach a Fidelity representative 1-800-544-6666

Mail

Plan Accounts:
Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035	Overnight Express:   Fidelity Investments 100 Crosby Parkway Covington, KY 41015
All Other Accounts:
Additional Purchases:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0003	Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035

TDD - Service for the Deaf and Hearing Impaired

All Accounts:

1-800-544-0118

Shares of the fund are not eligible for purchase by registered investment companies or business development companies to the extent such acquisition is in reliance on Rule 12d1-4 under the Investment Company Act of 1940.

The price to buy one share is its net asset value per share (NAV). Shares will be bought at the NAV next calculated after an order is received in proper form.

The price to sell one share is its NAV. Shares will be sold at the NAV next calculated after an order is received in proper form.

The fund is open for business each day the New York Stock Exchange (NYSE) is open.

Institutional Premium Class and Premier Class shares have a minimum initial investment of $5,000,000 and $2,000,000,000, respectively. The fund may waive or lower purchase minimums in other circumstances.

Tax Information

Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to Broker-Dealers and Other Financial Intermediaries

The fund, the Adviser, Fidelity Distributors Company LLC (FDC), and/or their affiliates may pay intermediaries, which may include banks, broker-dealers, retirement plan sponsors, administrators, or service-providers (who may be affiliated with the Adviser or FDC), for the sale of fund shares and related services. These payments may create a conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.

 

Fund Summary

Fund/Class:

Fidelity Freedom® Index 2035 Fund

/Institutional Premium, Premier 

 

Investment Objective

 

Fidelity Freedom® Index 2035 Fund seeks high total return until its target retirement date. Thereafter the fund's objective will be to seek high current income and, as a secondary objective, capital appreciation.

Fee Table

The following table describes the fees and expenses that may be incurred when you buy, hold, and sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund.

 

 

Shareholder fees

(fees paid directly from your investment)

None

 

Annual Operating Expenses

(expenses that you pay each year as a % of the value of your investment)

	Institutional Premium Class	Premier Class
Management fee	0.08%	0.06%
Distribution and/or Service (12b-1) fees	None	None
Other expenses	0.00%	0.00%
Total annual operating expenses	0.08%	0.06%

This example helps compare the cost of investing in the fund with the cost of investing in other funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

 

 

	Institutional Premium Class		Premier Class
1 year	$	8	$	6
3 years	$	26	$	19
5 years	$	45	$	34
10 years	$	103	$	77

 

 

Portfolio Turnover

 

The fund will not incur transaction costs, such as commissions, when it buys and sells shares of underlying Fidelity® funds (or "turns over" its portfolio), but it could incur transaction costs if it were to buy and sell other types of securities directly. If the fund were to buy and sell other types of securities directly, a higher portfolio turnover rate could indicate higher transaction costs and could result in higher taxes when fund shares are held in a taxable account. Such costs, if incurred, would not be reflected in annual operating expenses or in the example and would affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 13% of the average value of its portfolio.

Principal Investment Strategies

• Investing primarily in a combination of Fidelity® U.S. equity funds, international equity funds, bond funds, and short-term funds (underlying Fidelity® funds), each of which (excluding any money market fund) seeks to provide investment results that correspond to the total return of a specific index.
• Allocating assets according to an asset allocation strategy shown in the glide path below that adjusts over time until it reaches an allocation similar to that of the Fidelity Freedom® Index Income Fund, approximately 10 to 19 years after the year 2035. Fidelity Management & Research Company LLC (FMR) (the Adviser) may modify the fund's asset allocations from time to time when in the interests of shareholders.

• The asset allocation shown in the glide path depicts the allocation to U.S. equity funds, international equity funds, bond funds (including U.S. investment grade bond, international bond, inflation-protected bond, and long-term treasury bond), and short-term funds.
• Buying and selling futures contracts (both long and short positions) in an effort to manage cash flows efficiently, remain fully invested, or facilitate asset allocation.
• The Adviser, under normal market conditions, will make investments that are consistent with seeking high total return for several years beyond the fund's target retirement date in an effort to achieve the fund's overall investment objective.
• Using an asset allocation among underlying Fidelity® funds and futures as of April 1, 2023, of approximately:

	U.S. Equity Funds 44%
	International Equity Funds 30%
	International Bond Funds 4%
	U.S. Investment Grade Bond Funds 17%
	Long-Term Treasury Bond Funds 5%
	Long-Term Inflation-Protected Bond Funds 0%
	Short-Term Inflation-Protected Bond Funds 0%
	Short-Term Funds 0%

* The Adviser may change these percentages over time. The allocation percentages may not add to 100% due to rounding.

• Designed for investors who anticipate retiring in or within a few years of 2035 (target retirement date) at or around age 65.

When the asset allocation of a fund matches Fidelity Freedom® Index Income Fund's asset allocation (approximately 10 to 19 years after the year indicated in the fund's name), the Board of Trustees may combine the fund with Fidelity Freedom® Index Income Fund, without shareholder approval, and the fund's shareholders will become shareholders of Fidelity Freedom® Index Income Fund.

Principal Investment Risks

Shareholders should consider that no target date fund is intended as a complete retirement program and there is no guarantee that any single fund will provide sufficient retirement income at or through your retirement. The fund's share price fluctuates, which means you could lose money by investing in the fund, including losses near, at or after the target retirement date.

• Asset Allocation Risk.

The fund is subject to risks resulting from the Adviser's asset allocation decisions. The selection of underlying funds and the allocation of the fund's assets among various asset classes could cause the fund to lose value or its results to lag relevant benchmarks or other funds with similar objectives.

• Investing in Other Funds.

The fund bears all risks of investment strategies employed by the underlying funds, including the risk that the underlying funds will not meet their investment objectives.

• Stock Market Volatility.

The Adviser will continue to invest the fund's assets in equity funds in the years following the fund's target retirement date in an effort to achieve the fund's overall investment objective. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.

• Interest Rate Changes.

Interest rate increases can cause the price of a debt security to decrease.

• Foreign Exposure.

Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Foreign exchange rates also can be extremely volatile.

• Industry Exposure.

Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect a single industry or group of related industries.

• Prepayment.

The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility if interest rates change.

• Issuer-Specific Changes.

The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

Changes in the financial condition of an issuer or counterparty (e.g., broker-dealer or other borrower in a securities lending transaction) can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's value or result in delays in recovering securities and/or capital from a counterparty.

A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security to decrease.

• Correlation to Index.

The performance of an underlying index fund and its index may vary somewhat due to factors such as fees and expenses of the underlying fund, transaction costs, sample selection, regulatory restrictions, and timing differences associated with additions to and deletions from the index. Errors in the construction or calculation of the index may occur from time to time and may not be identified and corrected for some period of time, which may have an adverse impact on an underlying fund and its shareholders.

• Passive Management Risk.

Some of the underlying funds in which the fund invests are managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities, regardless of the current or projected performance of an underlying fund's index or of the actual securities included in the index. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the performance of these underlying funds could be lower than actively managed funds that may shift their portfolio assets to take advantage of market opportunities or lessen the impact of a market decline or a decline in the value of one or more issuers. An underlying index fund may be concentrated to approximately the same extent that its index concentrates in the securities of issuers in a particular industry or group of industries.

• Leverage Risk.

Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.

• Securities Lending Risk.

Securities lending involves the risk that the borrower may fail to return the securities loaned in a timely manner or at all. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, an underlying fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

 

Performance

The following information is intended to help you understand the risks of investing in the fund.

The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and a hypothetical composite of market indexes over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.401k.com and log in (plan accounts) or www.fidelity.com (all other accounts) for more recent performance information.

 

Year-by-Year Returns

 

				2016	2017	2018	2019	2020	2021	2022
				9.46%	20.40%	-6.72%	25.01%	15.56%	13.80%	-17.57%

During the periods shown in the chart for Institutional Premium Class:	Returns	Quarter ended
Highest Quarter Return	16.69%	June 30, 2020
Lowest Quarter Return	-17.34%	March 31, 2020
Year-to-Date Return	6.36%	March 31, 2023

 

Average Annual Returns

 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After-tax returns for Institutional Premium Class are shown in the table below and after-tax returns for other classes will vary. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.

For the periods ended December 31, 2022	Past 1 year	Past 5 years	Life of class
Institutional Premium Class - Return Before Taxes	-17.57%	4.80%	6.16%A
Return After Taxes on Distributions	-18.04%	3.52%	5.08%A
- Return After Taxes on Distributions and Sale of Fund Shares	-10.19%	3.54%	4.68%A
Premier Class - Return Before Taxes	-17.55%	-	5.22%B
S&P 500® Index (reflects no deduction for fees, expenses, or taxes)	-18.11%	9.42%	12.68%
Fidelity Freedom Index 2035 Composite Index℠ (reflects no deduction for fees or expenses)	-17.53%	4.90%	8.77%

AFrom June 24, 2015.

 

BFrom June 24, 2020.

Investment Adviser

FMR (the Adviser) is the fund's manager.

Portfolio Manager(s)

Andrew Dierdorf (Co-Portfolio Manager) has managed the fund since 2009.

Brett Sumsion (Co-Portfolio Manager) has managed the fund since 2014.

Finola McGuire Foley (Co-Portfolio Manager) has managed the fund since 2018.

Purchase and Sale of Shares

You may buy or sell shares through a Fidelity® brokerage or mutual fund account, through a retirement account, or through an investment professional.

You may buy or sell shares in various ways:

Internet

Plan Accounts:	All Other Accounts:
www.401k.com	www.fidelity.com

Phone

Plan Accounts:

For Individual Accounts (investing through a retirement plan sponsor or other institution), refer to your plan materials or contact that institution directly.

For Retirement Plan Level Accounts:

Corporate Clients 1-800-962-1375

"Not for Profit" Clients 1-800-343-0860

All Other Accounts:

Fidelity Automated Service Telephone (FAST®) 1-800-544-5555

To reach a Fidelity representative 1-800-544-6666

Mail

Plan Accounts:
Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035	Overnight Express:   Fidelity Investments 100 Crosby Parkway Covington, KY 41015
All Other Accounts:
Additional Purchases:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0003	Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035

TDD - Service for the Deaf and Hearing Impaired

All Accounts:

1-800-544-0118

Shares of the fund are not eligible for purchase by registered investment companies or business development companies to the extent such acquisition is in reliance on Rule 12d1-4 under the Investment Company Act of 1940.

The price to buy one share is its net asset value per share (NAV). Shares will be bought at the NAV next calculated after an order is received in proper form.

The price to sell one share is its NAV. Shares will be sold at the NAV next calculated after an order is received in proper form.

The fund is open for business each day the New York Stock Exchange (NYSE) is open.

Institutional Premium Class and Premier Class shares have a minimum initial investment of $5,000,000 and $2,000,000,000, respectively. The fund may waive or lower purchase minimums in other circumstances.

Tax Information

Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to Broker-Dealers and Other Financial Intermediaries

The fund, the Adviser, Fidelity Distributors Company LLC (FDC), and/or their affiliates may pay intermediaries, which may include banks, broker-dealers, retirement plan sponsors, administrators, or service-providers (who may be affiliated with the Adviser or FDC), for the sale of fund shares and related services. These payments may create a conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.

 

Fund Summary

Fund/Class:

Fidelity Freedom® Index 2040 Fund

/Institutional Premium, Premier 

 

Investment Objective

 

Fidelity Freedom® Index 2040 Fund seeks high total return until its target retirement date. Thereafter the fund's objective will be to seek high current income and, as a secondary objective, capital appreciation.

Fee Table

The following table describes the fees and expenses that may be incurred when you buy, hold, and sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund.

 

 

Shareholder fees

(fees paid directly from your investment)

None

 

Annual Operating Expenses

(expenses that you pay each year as a % of the value of your investment)

	Institutional Premium Class	Premier Class
Management fee	0.08%	0.06%
Distribution and/or Service (12b-1) fees	None	None
Other expenses	0.00%	0.00%
Total annual operating expenses	0.08%	0.06%

This example helps compare the cost of investing in the fund with the cost of investing in other funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

 

 

	Institutional Premium Class		Premier Class
1 year	$	8	$	6
3 years	$	26	$	19
5 years	$	45	$	34
10 years	$	103	$	77

 

 

Portfolio Turnover

 

The fund will not incur transaction costs, such as commissions, when it buys and sells shares of underlying Fidelity® funds (or "turns over" its portfolio), but it could incur transaction costs if it were to buy and sell other types of securities directly. If the fund were to buy and sell other types of securities directly, a higher portfolio turnover rate could indicate higher transaction costs and could result in higher taxes when fund shares are held in a taxable account. Such costs, if incurred, would not be reflected in annual operating expenses or in the example and would affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 12% of the average value of its portfolio.

Principal Investment Strategies

• Investing primarily in a combination of Fidelity® U.S. equity funds, international equity funds, bond funds, and short-term funds (underlying Fidelity® funds), each of which (excluding any money market fund) seeks to provide investment results that correspond to the total return of a specific index.
• Allocating assets according to an asset allocation strategy shown in the glide path below that adjusts over time until it reaches an allocation similar to that of the Fidelity Freedom® Index Income Fund, approximately 10 to 19 years after the year 2040. Fidelity Management & Research Company LLC (FMR) (the Adviser) may modify the fund's asset allocations from time to time when in the interests of shareholders.

• The asset allocation shown in the glide path depicts the allocation to U.S. equity funds, international equity funds, bond funds (including U.S. investment grade bond, international bond, inflation-protected bond, and long-term treasury bond), and short-term funds.
• Buying and selling futures contracts (both long and short positions) in an effort to manage cash flows efficiently, remain fully invested, or facilitate asset allocation.
• The Adviser, under normal market conditions, will make investments that are consistent with seeking high total return for several years beyond the fund's target retirement date in an effort to achieve the fund's overall investment objective.
• Using an asset allocation among underlying Fidelity® funds and futures as of April 1, 2023, of approximately:

	U.S. Equity Funds 52%
	International Equity Funds 35%
	International Bond Funds 2%
	U.S. Investment Grade Bond Funds 6%
	Long-Term Treasury Bond Funds 5%
	Long-Term Inflation-Protected Bond Funds 0%
	Short-Term Inflation-Protected Bond Funds 0%
	Short-Term Funds 0%

* The Adviser may change these percentages over time. The allocation percentages may not add to 100% due to rounding.

• Designed for investors who anticipate retiring in or within a few years of 2040 (target retirement date) at or around age 65.

When the asset allocation of a fund matches Fidelity Freedom® Index Income Fund's asset allocation (approximately 10 to 19 years after the year indicated in the fund's name), the Board of Trustees may combine the fund with Fidelity Freedom® Index Income Fund, without shareholder approval, and the fund's shareholders will become shareholders of Fidelity Freedom® Index Income Fund.

Principal Investment Risks

Shareholders should consider that no target date fund is intended as a complete retirement program and there is no guarantee that any single fund will provide sufficient retirement income at or through your retirement. The fund's share price fluctuates, which means you could lose money by investing in the fund, including losses near, at or after the target retirement date.

• Asset Allocation Risk.

The fund is subject to risks resulting from the Adviser's asset allocation decisions. The selection of underlying funds and the allocation of the fund's assets among various asset classes could cause the fund to lose value or its results to lag relevant benchmarks or other funds with similar objectives.

• Investing in Other Funds.

The fund bears all risks of investment strategies employed by the underlying funds, including the risk that the underlying funds will not meet their investment objectives.

• Stock Market Volatility.

The Adviser will continue to invest the fund's assets in equity funds in the years following the fund's target retirement date in an effort to achieve the fund's overall investment objective. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.

• Interest Rate Changes.

Interest rate increases can cause the price of a debt security to decrease.

• Foreign Exposure.

Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Foreign exchange rates also can be extremely volatile.

• Industry Exposure.

Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect a single industry or group of related industries.

• Prepayment.

The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility if interest rates change.

• Issuer-Specific Changes.

The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

Changes in the financial condition of an issuer or counterparty (e.g., broker-dealer or other borrower in a securities lending transaction) can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's value or result in delays in recovering securities and/or capital from a counterparty.

A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security to decrease.

• Correlation to Index.

The performance of an underlying index fund and its index may vary somewhat due to factors such as fees and expenses of the underlying fund, transaction costs, sample selection, regulatory restrictions, and timing differences associated with additions to and deletions from the index. Errors in the construction or calculation of the index may occur from time to time and may not be identified and corrected for some period of time, which may have an adverse impact on an underlying fund and its shareholders.

• Passive Management Risk.

Some of the underlying funds in which the fund invests are managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities, regardless of the current or projected performance of an underlying fund's index or of the actual securities included in the index. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the performance of these underlying funds could be lower than actively managed funds that may shift their portfolio assets to take advantage of market opportunities or lessen the impact of a market decline or a decline in the value of one or more issuers. An underlying index fund may be concentrated to approximately the same extent that its index concentrates in the securities of issuers in a particular industry or group of industries.

• Leverage Risk.

Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.

• Securities Lending Risk.

Securities lending involves the risk that the borrower may fail to return the securities loaned in a timely manner or at all. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, an underlying fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

 

Performance

The following information is intended to help you understand the risks of investing in the fund.

The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and a hypothetical composite of market indexes over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.401k.com and log in (plan accounts) or www.fidelity.com (all other accounts) for more recent performance information.

 

Year-by-Year Returns

 

				2016	2017	2018	2019	2020	2021	2022
				9.53%	20.56%	-7.16%	26.11%	16.49%	15.97%	-18.17%

During the periods shown in the chart for Institutional Premium Class:	Returns	Quarter ended
Highest Quarter Return	18.01%	June 30, 2020
Lowest Quarter Return	-19.11%	March 31, 2020
Year-to-Date Return	6.86%	March 31, 2023

 

Average Annual Returns

 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After-tax returns for Institutional Premium Class are shown in the table below and after-tax returns for other classes will vary. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.

For the periods ended December 31, 2022	Past 1 year	Past 5 years	Life of class
Institutional Premium Class - Return Before Taxes	-18.17%	5.29%	6.52%A
Return After Taxes on Distributions	-18.62%	3.96%	5.40%A
- Return After Taxes on Distributions and Sale of Fund Shares	-10.51%	3.94%	4.98%A
Premier Class - Return Before Taxes	-18.16%	-	6.49%B
S&P 500® Index (reflects no deduction for fees, expenses, or taxes)	-18.11%	9.42%	12.68%
Fidelity Freedom Index 2040 Composite Index℠ (reflects no deduction for fees or expenses)	-18.14%	5.39%	9.03%

AFrom June 24, 2015.

 

BFrom June 24, 2020.

Investment Adviser

FMR (the Adviser) is the fund's manager.

Portfolio Manager(s)

Andrew Dierdorf (Co-Portfolio Manager) has managed the fund since 2009.

Brett Sumsion (Co-Portfolio Manager) has managed the fund since 2014.

Finola McGuire Foley (Co-Portfolio Manager) has managed the fund since 2018.

Purchase and Sale of Shares

You may buy or sell shares through a Fidelity® brokerage or mutual fund account, through a retirement account, or through an investment professional.

You may buy or sell shares in various ways:

Internet

Plan Accounts:	All Other Accounts:
www.401k.com	www.fidelity.com

Phone

Plan Accounts:

For Individual Accounts (investing through a retirement plan sponsor or other institution), refer to your plan materials or contact that institution directly.

For Retirement Plan Level Accounts:

Corporate Clients 1-800-962-1375

"Not for Profit" Clients 1-800-343-0860

All Other Accounts:

Fidelity Automated Service Telephone (FAST®) 1-800-544-5555

To reach a Fidelity representative 1-800-544-6666

Mail

Plan Accounts:
Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035	Overnight Express:   Fidelity Investments 100 Crosby Parkway Covington, KY 41015
All Other Accounts:
Additional Purchases:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0003	Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035

TDD - Service for the Deaf and Hearing Impaired

All Accounts:

1-800-544-0118

Shares of the fund are not eligible for purchase by registered investment companies or business development companies to the extent such acquisition is in reliance on Rule 12d1-4 under the Investment Company Act of 1940.

The price to buy one share is its net asset value per share (NAV). Shares will be bought at the NAV next calculated after an order is received in proper form.

The price to sell one share is its NAV. Shares will be sold at the NAV next calculated after an order is received in proper form.

The fund is open for business each day the New York Stock Exchange (NYSE) is open.

Institutional Premium Class and Premier Class shares have a minimum initial investment of $5,000,000 and $2,000,000,000, respectively. The fund may waive or lower purchase minimums in other circumstances.

Tax Information

Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to Broker-Dealers and Other Financial Intermediaries

The fund, the Adviser, Fidelity Distributors Company LLC (FDC), and/or their affiliates may pay intermediaries, which may include banks, broker-dealers, retirement plan sponsors, administrators, or service-providers (who may be affiliated with the Adviser or FDC), for the sale of fund shares and related services. These payments may create a conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.

 

Fund Summary

Fund/Class:

Fidelity Freedom® Index 2045 Fund

/Institutional Premium, Premier 

 

Investment Objective

 

Fidelity Freedom® Index 2045 Fund seeks high total return until its target retirement date. Thereafter the fund's objective will be to seek high current income and, as a secondary objective, capital appreciation.

Fee Table

The following table describes the fees and expenses that may be incurred when you buy, hold, and sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund.

 

 

Shareholder fees

(fees paid directly from your investment)

None

 

Annual Operating Expenses

(expenses that you pay each year as a % of the value of your investment)

	Institutional Premium Class	Premier Class
Management fee	0.08%	0.06%
Distribution and/or Service (12b-1) fees	None	None
Other expenses	0.00%	0.00%
Total annual operating expenses	0.08%	0.06%

This example helps compare the cost of investing in the fund with the cost of investing in other funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

 

 

	Institutional Premium Class		Premier Class
1 year	$	8	$	6
3 years	$	26	$	19
5 years	$	45	$	34
10 years	$	103	$	77

 

 

Portfolio Turnover

 

The fund will not incur transaction costs, such as commissions, when it buys and sells shares of underlying Fidelity® funds (or "turns over" its portfolio), but it could incur transaction costs if it were to buy and sell other types of securities directly. If the fund were to buy and sell other types of securities directly, a higher portfolio turnover rate could indicate higher transaction costs and could result in higher taxes when fund shares are held in a taxable account. Such costs, if incurred, would not be reflected in annual operating expenses or in the example and would affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 11% of the average value of its portfolio.

Principal Investment Strategies

• Investing primarily in a combination of Fidelity® U.S. equity funds, international equity funds, bond funds, and short-term funds (underlying Fidelity® funds), each of which (excluding any money market fund) seeks to provide investment results that correspond to the total return of a specific index.
• Allocating assets according to an asset allocation strategy shown in the glide path below that adjusts over time until it reaches an allocation similar to that of the Fidelity Freedom® Index Income Fund, approximately 10 to 19 years after the year 2045. Fidelity Management & Research Company LLC (FMR) (the Adviser) may modify the fund's asset allocations from time to time when in the interests of shareholders.

• The asset allocation shown in the glide path depicts the allocation to U.S. equity funds, international equity funds, bond funds (including U.S. investment grade bond, international bond, inflation-protected bond, and long-term treasury bond), and short-term funds.
• Buying and selling futures contracts (both long and short positions) in an effort to manage cash flows efficiently, remain fully invested, or facilitate asset allocation.
• The Adviser, under normal market conditions, will make investments that are consistent with seeking high total return for several years beyond the fund's target retirement date in an effort to achieve the fund's overall investment objective.
• Using an asset allocation among underlying Fidelity® funds and futures as of April 1, 2023, of approximately:

	U.S. Equity Funds 54%
	International Equity Funds 36%
	International Bond Funds 1%
	U.S. Investment Grade Bond Funds 4%
	Long-Term Treasury Bond Funds 5%
	Long-Term Inflation-Protected Bond Funds 0%
	Short-Term Inflation-Protected Bond Funds 0%
	Short-Term Funds 0%

* The Adviser may change these percentages over time. The allocation percentages may not add to 100% due to rounding.

• Designed for investors who anticipate retiring in or within a few years of 2045 (target retirement date) at or around age 65.

When the asset allocation of a fund matches Fidelity Freedom® Index Income Fund's asset allocation (approximately 10 to 19 years after the year indicated in the fund's name), the Board of Trustees may combine the fund with Fidelity Freedom® Index Income Fund, without shareholder approval, and the fund's shareholders will become shareholders of Fidelity Freedom® Index Income Fund.

Principal Investment Risks

Shareholders should consider that no target date fund is intended as a complete retirement program and there is no guarantee that any single fund will provide sufficient retirement income at or through your retirement. The fund's share price fluctuates, which means you could lose money by investing in the fund, including losses near, at or after the target retirement date.

• Asset Allocation Risk.

The fund is subject to risks resulting from the Adviser's asset allocation decisions. The selection of underlying funds and the allocation of the fund's assets among various asset classes could cause the fund to lose value or its results to lag relevant benchmarks or other funds with similar objectives.

• Investing in Other Funds.

The fund bears all risks of investment strategies employed by the underlying funds, including the risk that the underlying funds will not meet their investment objectives.

• Stock Market Volatility.

The Adviser will continue to invest the fund's assets in equity funds in the years following the fund's target retirement date in an effort to achieve the fund's overall investment objective. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.

• Interest Rate Changes.

Interest rate increases can cause the price of a debt security to decrease.

• Foreign Exposure.

Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Foreign exchange rates also can be extremely volatile.

• Industry Exposure.

Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect a single industry or group of related industries.

• Prepayment.

The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility if interest rates change.

• Issuer-Specific Changes.

The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

Changes in the financial condition of an issuer or counterparty (e.g., broker-dealer or other borrower in a securities lending transaction) can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's value or result in delays in recovering securities and/or capital from a counterparty.

A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security to decrease.

• Correlation to Index.

The performance of an underlying index fund and its index may vary somewhat due to factors such as fees and expenses of the underlying fund, transaction costs, sample selection, regulatory restrictions, and timing differences associated with additions to and deletions from the index. Errors in the construction or calculation of the index may occur from time to time and may not be identified and corrected for some period of time, which may have an adverse impact on an underlying fund and its shareholders.

• Passive Management Risk.

Some of the underlying funds in which the fund invests are managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities, regardless of the current or projected performance of an underlying fund's index or of the actual securities included in the index. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the performance of these underlying funds could be lower than actively managed funds that may shift their portfolio assets to take advantage of market opportunities or lessen the impact of a market decline or a decline in the value of one or more issuers. An underlying index fund may be concentrated to approximately the same extent that its index concentrates in the securities of issuers in a particular industry or group of industries.

• Leverage Risk.

Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.

• Securities Lending Risk.

Securities lending involves the risk that the borrower may fail to return the securities loaned in a timely manner or at all. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, an underlying fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

 

Performance

The following information is intended to help you understand the risks of investing in the fund.

The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and a hypothetical composite of market indexes over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.401k.com and log in (plan accounts) or www.fidelity.com (all other accounts) for more recent performance information.

 

Year-by-Year Returns

 

				2016	2017	2018	2019	2020	2021	2022
				9.54%	20.56%	-7.16%	26.09%	16.50%	15.97%	-18.20%

During the periods shown in the chart for Institutional Premium Class:	Returns	Quarter ended
Highest Quarter Return	18.06%	June 30, 2020
Lowest Quarter Return	-19.11%	March 31, 2020
Year-to-Date Return	6.96%	March 31, 2023

 

Average Annual Returns

 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After-tax returns for Institutional Premium Class are shown in the table below and after-tax returns for other classes will vary. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.

For the periods ended December 31, 2022	Past 1 year	Past 5 years	Life of class
Institutional Premium Class - Return Before Taxes	-18.20%	5.29%	6.51%A
Return After Taxes on Distributions	-18.64%	4.09%	5.48%A
- Return After Taxes on Distributions and Sale of Fund Shares	-10.53%	3.94%	4.98%A
Premier Class - Return Before Taxes	-18.15%	-	6.50%B
S&P 500® Index (reflects no deduction for fees, expenses, or taxes)	-18.11%	9.42%	12.68%
Fidelity Freedom Index 2045 Composite Index℠ (reflects no deduction for fees or expenses)	-18.17%	5.38%	9.09%

AFrom June 24, 2015.

 

BFrom June 24, 2020.

Investment Adviser

FMR (the Adviser) is the fund's manager.

Portfolio Manager(s)

Andrew Dierdorf (Co-Portfolio Manager) has managed the fund since 2009.

Brett Sumsion (Co-Portfolio Manager) has managed the fund since 2014.

Finola McGuire Foley (Co-Portfolio Manager) has managed the fund since 2018.

Purchase and Sale of Shares

You may buy or sell shares through a Fidelity® brokerage or mutual fund account, through a retirement account, or through an investment professional.

You may buy or sell shares in various ways:

Internet

Plan Accounts:	All Other Accounts:
www.401k.com	www.fidelity.com

Phone

Plan Accounts:

For Individual Accounts (investing through a retirement plan sponsor or other institution), refer to your plan materials or contact that institution directly.

For Retirement Plan Level Accounts:

Corporate Clients 1-800-962-1375

"Not for Profit" Clients 1-800-343-0860

All Other Accounts:

Fidelity Automated Service Telephone (FAST®) 1-800-544-5555

To reach a Fidelity representative 1-800-544-6666

Mail

Plan Accounts:
Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035	Overnight Express:   Fidelity Investments 100 Crosby Parkway Covington, KY 41015
All Other Accounts:
Additional Purchases:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0003	Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035

TDD - Service for the Deaf and Hearing Impaired

All Accounts:

1-800-544-0118

Shares of the fund are not eligible for purchase by registered investment companies or business development companies to the extent such acquisition is in reliance on Rule 12d1-4 under the Investment Company Act of 1940.

The price to buy one share is its net asset value per share (NAV). Shares will be bought at the NAV next calculated after an order is received in proper form.

The price to sell one share is its NAV. Shares will be sold at the NAV next calculated after an order is received in proper form.

The fund is open for business each day the New York Stock Exchange (NYSE) is open.

Institutional Premium Class and Premier Class shares have a minimum initial investment of $5,000,000 and $2,000,000,000, respectively. The fund may waive or lower purchase minimums in other circumstances.

Tax Information

Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to Broker-Dealers and Other Financial Intermediaries

The fund, the Adviser, Fidelity Distributors Company LLC (FDC), and/or their affiliates may pay intermediaries, which may include banks, broker-dealers, retirement plan sponsors, administrators, or service-providers (who may be affiliated with the Adviser or FDC), for the sale of fund shares and related services. These payments may create a conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.

 

Fund Summary

Fund/Class:

Fidelity Freedom® Index 2050 Fund

/Institutional Premium, Premier 

 

Investment Objective

 

Fidelity Freedom® Index 2050 Fund seeks high total return until its target retirement date. Thereafter the fund's objective will be to seek high current income and, as a secondary objective, capital appreciation.

Fee Table

The following table describes the fees and expenses that may be incurred when you buy, hold, and sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund.

 

 

Shareholder fees

(fees paid directly from your investment)

None

 

Annual Operating Expenses

(expenses that you pay each year as a % of the value of your investment)

	Institutional Premium Class	Premier Class
Management fee	0.08%	0.06%
Distribution and/or Service (12b-1) fees	None	None
Other expenses	0.00%	0.00%
Total annual operating expenses	0.08%	0.06%

This example helps compare the cost of investing in the fund with the cost of investing in other funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

 

 

	Institutional Premium Class		Premier Class
1 year	$	8	$	6
3 years	$	26	$	19
5 years	$	45	$	34
10 years	$	103	$	77

 

 

Portfolio Turnover

 

The fund will not incur transaction costs, such as commissions, when it buys and sells shares of underlying Fidelity® funds (or "turns over" its portfolio), but it could incur transaction costs if it were to buy and sell other types of securities directly. If the fund were to buy and sell other types of securities directly, a higher portfolio turnover rate could indicate higher transaction costs and could result in higher taxes when fund shares are held in a taxable account. Such costs, if incurred, would not be reflected in annual operating expenses or in the example and would affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 11% of the average value of its portfolio.

Principal Investment Strategies

• Investing primarily in a combination of Fidelity® U.S. equity funds, international equity funds, bond funds, and short-term funds (underlying Fidelity® funds), each of which (excluding any money market fund) seeks to provide investment results that correspond to the total return of a specific index.
• Allocating assets according to an asset allocation strategy shown in the glide path below that adjusts over time until it reaches an allocation similar to that of the Fidelity Freedom® Index Income Fund, approximately 10 to 19 years after the year 2050. Fidelity Management & Research Company LLC (FMR) (the Adviser) may modify the fund's asset allocations from time to time when in the interests of shareholders.

• The asset allocation shown in the glide path depicts the allocation to U.S. equity funds, international equity funds, bond funds (including U.S. investment grade bond, international bond, inflation-protected bond, and long-term treasury bond), and short-term funds.
• Buying and selling futures contracts (both long and short positions) in an effort to manage cash flows efficiently, remain fully invested, or facilitate asset allocation.
• The Adviser, under normal market conditions, will make investments that are consistent with seeking high total return for several years beyond the fund's target retirement date in an effort to achieve the fund's overall investment objective.
• Using an asset allocation among underlying Fidelity® funds and futures as of April 1, 2023, of approximately:

	U.S. Equity Funds 54%
	International Equity Funds 36%
	International Bond Funds 1%
	U.S. Investment Grade Bond Funds 4%
	Long-Term Treasury Bond Funds 5%
	Long-Term Inflation-Protected Bond Funds 0%
	Short-Term Inflation-Protected Bond Funds 0%
	Short-Term Funds 0%

* The Adviser may change these percentages over time. The allocation percentages may not add to 100% due to rounding.

• Designed for investors who anticipate retiring in or within a few years of 2050 (target retirement date) at or around age 65.

When the asset allocation of a fund matches Fidelity Freedom® Index Income Fund's asset allocation (approximately 10 to 19 years after the year indicated in the fund's name), the Board of Trustees may combine the fund with Fidelity Freedom® Index Income Fund, without shareholder approval, and the fund's shareholders will become shareholders of Fidelity Freedom® Index Income Fund.

Principal Investment Risks

Shareholders should consider that no target date fund is intended as a complete retirement program and there is no guarantee that any single fund will provide sufficient retirement income at or through your retirement. The fund's share price fluctuates, which means you could lose money by investing in the fund, including losses near, at or after the target retirement date.

• Asset Allocation Risk.

The fund is subject to risks resulting from the Adviser's asset allocation decisions. The selection of underlying funds and the allocation of the fund's assets among various asset classes could cause the fund to lose value or its results to lag relevant benchmarks or other funds with similar objectives.

• Investing in Other Funds.

The fund bears all risks of investment strategies employed by the underlying funds, including the risk that the underlying funds will not meet their investment objectives.

• Stock Market Volatility.

The Adviser will continue to invest the fund's assets in equity funds in the years following the fund's target retirement date in an effort to achieve the fund's overall investment objective. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.

• Interest Rate Changes.

Interest rate increases can cause the price of a debt security to decrease.

• Foreign Exposure.

Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Foreign exchange rates also can be extremely volatile.

• Industry Exposure.

Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect a single industry or group of related industries.

• Prepayment.

The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility if interest rates change.

• Issuer-Specific Changes.

The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

Changes in the financial condition of an issuer or counterparty (e.g., broker-dealer or other borrower in a securities lending transaction) can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's value or result in delays in recovering securities and/or capital from a counterparty.

A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security to decrease.

• Correlation to Index.

The performance of an underlying index fund and its index may vary somewhat due to factors such as fees and expenses of the underlying fund, transaction costs, sample selection, regulatory restrictions, and timing differences associated with additions to and deletions from the index. Errors in the construction or calculation of the index may occur from time to time and may not be identified and corrected for some period of time, which may have an adverse impact on an underlying fund and its shareholders.

• Passive Management Risk.

Some of the underlying funds in which the fund invests are managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities, regardless of the current or projected performance of an underlying fund's index or of the actual securities included in the index. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the performance of these underlying funds could be lower than actively managed funds that may shift their portfolio assets to take advantage of market opportunities or lessen the impact of a market decline or a decline in the value of one or more issuers. An underlying index fund may be concentrated to approximately the same extent that its index concentrates in the securities of issuers in a particular industry or group of industries.

• Leverage Risk.

Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.

• Securities Lending Risk.

Securities lending involves the risk that the borrower may fail to return the securities loaned in a timely manner or at all. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, an underlying fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

 

Performance

The following information is intended to help you understand the risks of investing in the fund.

The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and a hypothetical composite of market indexes over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.401k.com and log in (plan accounts) or www.fidelity.com (all other accounts) for more recent performance information.

 

Year-by-Year Returns

 

				2016	2017	2018	2019	2020	2021	2022
				9.45%	20.60%	-7.15%	26.09%	16.53%	15.98%	-18.22%

During the periods shown in the chart for Institutional Premium Class:	Returns	Quarter ended
Highest Quarter Return	18.10%	June 30, 2020
Lowest Quarter Return	-19.14%	March 31, 2020
Year-to-Date Return	6.95%	March 31, 2023

 

Average Annual Returns

 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After-tax returns for Institutional Premium Class are shown in the table below and after-tax returns for other classes will vary. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.

For the periods ended December 31, 2022	Past 1 year	Past 5 years	Life of class
Institutional Premium Class - Return Before Taxes	-18.22%	5.29%	6.51%A
Return After Taxes on Distributions	-18.65%	4.08%	5.46%A
- Return After Taxes on Distributions and Sale of Fund Shares	-10.54%	3.94%	4.98%A
Premier Class - Return Before Taxes	-18.17%	-	6.50%B
S&P 500® Index (reflects no deduction for fees, expenses, or taxes)	-18.11%	9.42%	12.68%
Fidelity Freedom Index 2050 Composite Index℠ (reflects no deduction for fees or expenses)	-18.17%	5.38%	9.13%

AFrom June 24, 2015.

 

BFrom June 24, 2020.

Investment Adviser

FMR (the Adviser) is the fund's manager.

Portfolio Manager(s)

Andrew Dierdorf (Co-Portfolio Manager) has managed the fund since 2009.

Brett Sumsion (Co-Portfolio Manager) has managed the fund since 2014.

Finola McGuire Foley (Co-Portfolio Manager) has managed the fund since 2018.

Purchase and Sale of Shares

You may buy or sell shares through a Fidelity® brokerage or mutual fund account, through a retirement account, or through an investment professional.

You may buy or sell shares in various ways:

Internet

Plan Accounts:	All Other Accounts:
www.401k.com	www.fidelity.com

Phone

Plan Accounts:

For Individual Accounts (investing through a retirement plan sponsor or other institution), refer to your plan materials or contact that institution directly.

For Retirement Plan Level Accounts:

Corporate Clients 1-800-962-1375

"Not for Profit" Clients 1-800-343-0860

All Other Accounts:

Fidelity Automated Service Telephone (FAST®) 1-800-544-5555

To reach a Fidelity representative 1-800-544-6666

Mail

Plan Accounts:
Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035	Overnight Express:   Fidelity Investments 100 Crosby Parkway Covington, KY 41015
All Other Accounts:
Additional Purchases:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0003	Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035

TDD - Service for the Deaf and Hearing Impaired

All Accounts:

1-800-544-0118

Shares of the fund are not eligible for purchase by registered investment companies or business development companies to the extent such acquisition is in reliance on Rule 12d1-4 under the Investment Company Act of 1940.

The price to buy one share is its net asset value per share (NAV). Shares will be bought at the NAV next calculated after an order is received in proper form.

The price to sell one share is its NAV. Shares will be sold at the NAV next calculated after an order is received in proper form.

The fund is open for business each day the New York Stock Exchange (NYSE) is open.

Institutional Premium Class and Premier Class shares have a minimum initial investment of $5,000,000 and $2,000,000,000, respectively. The fund may waive or lower purchase minimums in other circumstances.

Tax Information

Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to Broker-Dealers and Other Financial Intermediaries

The fund, the Adviser, Fidelity Distributors Company LLC (FDC), and/or their affiliates may pay intermediaries, which may include banks, broker-dealers, retirement plan sponsors, administrators, or service-providers (who may be affiliated with the Adviser or FDC), for the sale of fund shares and related services. These payments may create a conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.

 

Fund Summary

Fund/Class:

Fidelity Freedom® Index 2055 Fund

/Institutional Premium, Premier 

 

Investment Objective

 

Fidelity Freedom® Index 2055 Fund seeks high total return until its target retirement date. Thereafter the fund's objective will be to seek high current income and, as a secondary objective, capital appreciation.

Fee Table

The following table describes the fees and expenses that may be incurred when you buy, hold, and sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund.

 

 

Shareholder fees

(fees paid directly from your investment)

None

 

Annual Operating Expenses

(expenses that you pay each year as a % of the value of your investment)

	Institutional Premium Class	Premier Class
Management fee	0.08%	0.06%
Distribution and/or Service (12b-1) fees	None	None
Other expenses	0.00%	0.00%
Total annual operating expenses	0.08%	0.06%

This example helps compare the cost of investing in the fund with the cost of investing in other funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

 

 

	Institutional Premium Class		Premier Class
1 year	$	8	$	6
3 years	$	26	$	19
5 years	$	45	$	34
10 years	$	103	$	77

 

 

Portfolio Turnover

 

The fund will not incur transaction costs, such as commissions, when it buys and sells shares of underlying Fidelity® funds (or "turns over" its portfolio), but it could incur transaction costs if it were to buy and sell other types of securities directly. If the fund were to buy and sell other types of securities directly, a higher portfolio turnover rate could indicate higher transaction costs and could result in higher taxes when fund shares are held in a taxable account. Such costs, if incurred, would not be reflected in annual operating expenses or in the example and would affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 11% of the average value of its portfolio.

Principal Investment Strategies

• Investing primarily in a combination of Fidelity® U.S. equity funds, international equity funds, bond funds, and short-term funds (underlying Fidelity® funds), each of which (excluding any money market fund) seeks to provide investment results that correspond to the total return of a specific index.
• Allocating assets according to an asset allocation strategy shown in the glide path below that adjusts over time until it reaches an allocation similar to that of the Fidelity Freedom® Index Income Fund, approximately 10 to 19 years after the year 2055. Fidelity Management & Research Company LLC (FMR) (the Adviser) may modify the fund's asset allocations from time to time when in the interests of shareholders.

• The asset allocation shown in the glide path depicts the allocation to U.S. equity funds, international equity funds, bond funds (including U.S. investment grade bond, international bond, inflation-protected bond, and long-term treasury bond), and short-term funds.
• Buying and selling futures contracts (both long and short positions) in an effort to manage cash flows efficiently, remain fully invested, or facilitate asset allocation.
• The Adviser, under normal market conditions, will make investments that are consistent with seeking high total return for several years beyond the fund's target retirement date in an effort to achieve the fund's overall investment objective.
• Using an asset allocation among underlying Fidelity® funds and futures as of April 1, 2023, of approximately:

	U.S. Equity Funds 54%
	International Equity Funds 36%
	International Bond Funds 1%
	U.S. Investment Grade Bond Funds 4%
	Long-Term Treasury Bond Funds 5%
	Long-Term Inflation-Protected Bond Funds 0%
	Short-Term Inflation-Protected Bond Funds 0%
	Short-Term Funds 0%

* The Adviser may change these percentages over time. The allocation percentages may not add to 100% due to rounding.

• Designed for investors who anticipate retiring in or within a few years of 2055 (target retirement date) at or around age 65.

When the asset allocation of a fund matches Fidelity Freedom® Index Income Fund's asset allocation (approximately 10 to 19 years after the year indicated in the fund's name), the Board of Trustees may combine the fund with Fidelity Freedom® Index Income Fund, without shareholder approval, and the fund's shareholders will become shareholders of Fidelity Freedom® Index Income Fund.

Principal Investment Risks

Shareholders should consider that no target date fund is intended as a complete retirement program and there is no guarantee that any single fund will provide sufficient retirement income at or through your retirement. The fund's share price fluctuates, which means you could lose money by investing in the fund, including losses near, at or after the target retirement date.

• Asset Allocation Risk.

The fund is subject to risks resulting from the Adviser's asset allocation decisions. The selection of underlying funds and the allocation of the fund's assets among various asset classes could cause the fund to lose value or its results to lag relevant benchmarks or other funds with similar objectives.

• Investing in Other Funds.

The fund bears all risks of investment strategies employed by the underlying funds, including the risk that the underlying funds will not meet their investment objectives.

• Stock Market Volatility.

The Adviser will continue to invest the fund's assets in equity funds in the years following the fund's target retirement date in an effort to achieve the fund's overall investment objective. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.

• Interest Rate Changes.

Interest rate increases can cause the price of a debt security to decrease.

• Foreign Exposure.

Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Foreign exchange rates also can be extremely volatile.

• Industry Exposure.

Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect a single industry or group of related industries.

• Prepayment.

The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility if interest rates change.

• Issuer-Specific Changes.

The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

Changes in the financial condition of an issuer or counterparty (e.g., broker-dealer or other borrower in a securities lending transaction) can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's value or result in delays in recovering securities and/or capital from a counterparty.

A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security to decrease.

• Correlation to Index.

The performance of an underlying index fund and its index may vary somewhat due to factors such as fees and expenses of the underlying fund, transaction costs, sample selection, regulatory restrictions, and timing differences associated with additions to and deletions from the index. Errors in the construction or calculation of the index may occur from time to time and may not be identified and corrected for some period of time, which may have an adverse impact on an underlying fund and its shareholders.

• Passive Management Risk.

Some of the underlying funds in which the fund invests are managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities, regardless of the current or projected performance of an underlying fund's index or of the actual securities included in the index. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the performance of these underlying funds could be lower than actively managed funds that may shift their portfolio assets to take advantage of market opportunities or lessen the impact of a market decline or a decline in the value of one or more issuers. An underlying index fund may be concentrated to approximately the same extent that its index concentrates in the securities of issuers in a particular industry or group of industries.

• Leverage Risk.

Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.

• Securities Lending Risk.

Securities lending involves the risk that the borrower may fail to return the securities loaned in a timely manner or at all. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, an underlying fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

 

Performance

The following information is intended to help you understand the risks of investing in the fund.

The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and a hypothetical composite of market indexes over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.401k.com and log in (plan accounts) or www.fidelity.com (all other accounts) for more recent performance information.

 

Year-by-Year Returns

 

				2016	2017	2018	2019	2020	2021	2022
				9.52%	20.57%	-7.12%	26.08%	16.51%	15.92%	-18.18%

During the periods shown in the chart for Institutional Premium Class:	Returns	Quarter ended
Highest Quarter Return	17.99%	June 30, 2020
Lowest Quarter Return	-19.11%	March 31, 2020
Year-to-Date Return	6.96%	March 31, 2023

 

Average Annual Returns

 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After-tax returns for Institutional Premium Class are shown in the table below and after-tax returns for other classes will vary. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.

For the periods ended December 31, 2022	Past 1 year	Past 5 years	Life of class
Institutional Premium Class - Return Before Taxes	-18.18%	5.29%	6.51%A
Return After Taxes on Distributions	-18.61%	4.26%	5.56%A
- Return After Taxes on Distributions and Sale of Fund Shares	-10.52%	3.95%	4.97%A
Premier Class - Return Before Taxes	-18.18%	-	6.48%B
S&P 500® Index (reflects no deduction for fees, expenses, or taxes)	-18.11%	9.42%	10.34%
Fidelity Freedom Index 2055 Composite Index℠ (reflects no deduction for fees or expenses)	-18.17%	5.38%	6.61%

AFrom June 24, 2015.

 

BFrom June 24, 2020.

Investment Adviser

FMR (the Adviser) is the fund's manager.

Portfolio Manager(s)

Andrew Dierdorf (Co-Portfolio Manager) has managed the fund since 2011.

Brett Sumsion (Co-Portfolio Manager) has managed the fund since 2014.

Finola McGuire Foley (Co-Portfolio Manager) has managed the fund since 2018.

Purchase and Sale of Shares

You may buy or sell shares through a Fidelity® brokerage or mutual fund account, through a retirement account, or through an investment professional.

You may buy or sell shares in various ways:

Internet

Plan Accounts:	All Other Accounts:
www.401k.com	www.fidelity.com

Phone

Plan Accounts:

For Individual Accounts (investing through a retirement plan sponsor or other institution), refer to your plan materials or contact that institution directly.

For Retirement Plan Level Accounts:

Corporate Clients 1-800-962-1375

"Not for Profit" Clients 1-800-343-0860

All Other Accounts:

Fidelity Automated Service Telephone (FAST®) 1-800-544-5555

To reach a Fidelity representative 1-800-544-6666

Mail

Plan Accounts:
Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035	Overnight Express:   Fidelity Investments 100 Crosby Parkway Covington, KY 41015
All Other Accounts:
Additional Purchases:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0003	Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035

TDD - Service for the Deaf and Hearing Impaired

All Accounts:

1-800-544-0118

Shares of the fund are not eligible for purchase by registered investment companies or business development companies to the extent such acquisition is in reliance on Rule 12d1-4 under the Investment Company Act of 1940.

The price to buy one share is its net asset value per share (NAV). Shares will be bought at the NAV next calculated after an order is received in proper form.

The price to sell one share is its NAV. Shares will be sold at the NAV next calculated after an order is received in proper form.

The fund is open for business each day the New York Stock Exchange (NYSE) is open.

Institutional Premium Class and Premier Class shares have a minimum initial investment of $5,000,000 and $2,000,000,000, respectively. The fund may waive or lower purchase minimums in other circumstances.

Tax Information

Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to Broker-Dealers and Other Financial Intermediaries

The fund, the Adviser, Fidelity Distributors Company LLC (FDC), and/or their affiliates may pay intermediaries, which may include banks, broker-dealers, retirement plan sponsors, administrators, or service-providers (who may be affiliated with the Adviser or FDC), for the sale of fund shares and related services. These payments may create a conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.

 

Fund Summary

Fund/Class:

Fidelity Freedom® Index 2060 Fund

/Institutional Premium, Premier 

 

Investment Objective

 

Fidelity Freedom® Index 2060 Fund seeks high total return until its target retirement date. Thereafter the fund's objective will be to seek high current income and, as a secondary objective, capital appreciation.

Fee Table

The following table describes the fees and expenses that may be incurred when you buy, hold, and sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund.

 

 

Shareholder fees

(fees paid directly from your investment)

None

 

Annual Operating Expenses

(expenses that you pay each year as a % of the value of your investment)

	Institutional Premium Class	Premier Class
Management fee	0.08%	0.06%
Distribution and/or Service (12b-1) fees	None	None
Other expenses	0.00%	0.00%
Total annual operating expenses	0.08%	0.06%

This example helps compare the cost of investing in the fund with the cost of investing in other funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

 

 

	Institutional Premium Class		Premier Class
1 year	$	8	$	6
3 years	$	26	$	19
5 years	$	45	$	34
10 years	$	103	$	77

 

 

Portfolio Turnover

 

The fund will not incur transaction costs, such as commissions, when it buys and sells shares of underlying Fidelity® funds (or "turns over" its portfolio), but it could incur transaction costs if it were to buy and sell other types of securities directly. If the fund were to buy and sell other types of securities directly, a higher portfolio turnover rate could indicate higher transaction costs and could result in higher taxes when fund shares are held in a taxable account. Such costs, if incurred, would not be reflected in annual operating expenses or in the example and would affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 12% of the average value of its portfolio.

Principal Investment Strategies

• Investing primarily in a combination of Fidelity® U.S. equity funds, international equity funds, bond funds, and short-term funds (underlying Fidelity® funds), each of which (excluding any money market fund) seeks to provide investment results that correspond to the total return of a specific index.
• Allocating assets according to an asset allocation strategy shown in the glide path below that adjusts over time until it reaches an allocation similar to that of the Fidelity Freedom® Index Income Fund, approximately 10 to 19 years after the year 2060. Fidelity Management & Research Company LLC (FMR) (the Adviser) may modify the fund's asset allocations from time to time when in the interests of shareholders.

• The asset allocation shown in the glide path depicts the allocation to U.S. equity funds, international equity funds, bond funds (including U.S. investment grade bond, international bond, inflation-protected bond, and long-term treasury bond), and short-term funds.
• Buying and selling futures contracts (both long and short positions) in an effort to manage cash flows efficiently, remain fully invested, or facilitate asset allocation.
• The Adviser, under normal market conditions, will make investments that are consistent with seeking high total return for several years beyond the fund's target retirement date in an effort to achieve the fund's overall investment objective.
• Using an asset allocation among underlying Fidelity® funds and futures as of April 1, 2023, of approximately:

	U.S. Equity Funds 54%
	International Equity Funds 36%
	International Bond Funds 1%
	U.S. Investment Grade Bond Funds 4%
	Long-Term Treasury Bond Funds 5%
	Long-Term Inflation-Protected Bond Funds 0%
	Short-Term Inflation-Protected Bond Funds 0%
	Short-Term Funds 0%

* The Adviser may change these percentages over time. The allocation percentages may not add to 100% due to rounding.

• Designed for investors who anticipate retiring in or within a few years of 2060 (target retirement date) at or around age 65.

When the asset allocation of a fund matches Fidelity Freedom® Index Income Fund's asset allocation (approximately 10 to 19 years after the year indicated in the fund's name), the Board of Trustees may combine the fund with Fidelity Freedom® Index Income Fund, without shareholder approval, and the fund's shareholders will become shareholders of Fidelity Freedom® Index Income Fund.

Principal Investment Risks

Shareholders should consider that no target date fund is intended as a complete retirement program and there is no guarantee that any single fund will provide sufficient retirement income at or through your retirement. The fund's share price fluctuates, which means you could lose money by investing in the fund, including losses near, at or after the target retirement date.

• Asset Allocation Risk.

The fund is subject to risks resulting from the Adviser's asset allocation decisions. The selection of underlying funds and the allocation of the fund's assets among various asset classes could cause the fund to lose value or its results to lag relevant benchmarks or other funds with similar objectives.

• Investing in Other Funds.

The fund bears all risks of investment strategies employed by the underlying funds, including the risk that the underlying funds will not meet their investment objectives.

• Stock Market Volatility.

The Adviser will continue to invest the fund's assets in equity funds in the years following the fund's target retirement date in an effort to achieve the fund's overall investment objective. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.

• Interest Rate Changes.

Interest rate increases can cause the price of a debt security to decrease.

• Foreign Exposure.

Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Foreign exchange rates also can be extremely volatile.

• Industry Exposure.

Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect a single industry or group of related industries.

• Prepayment.

The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility if interest rates change.

• Issuer-Specific Changes.

The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

Changes in the financial condition of an issuer or counterparty (e.g., broker-dealer or other borrower in a securities lending transaction) can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's value or result in delays in recovering securities and/or capital from a counterparty.

A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security to decrease.

• Correlation to Index.

The performance of an underlying index fund and its index may vary somewhat due to factors such as fees and expenses of the underlying fund, transaction costs, sample selection, regulatory restrictions, and timing differences associated with additions to and deletions from the index. Errors in the construction or calculation of the index may occur from time to time and may not be identified and corrected for some period of time, which may have an adverse impact on an underlying fund and its shareholders.

• Passive Management Risk.

Some of the underlying funds in which the fund invests are managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities, regardless of the current or projected performance of an underlying fund's index or of the actual securities included in the index. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the performance of these underlying funds could be lower than actively managed funds that may shift their portfolio assets to take advantage of market opportunities or lessen the impact of a market decline or a decline in the value of one or more issuers. An underlying index fund may be concentrated to approximately the same extent that its index concentrates in the securities of issuers in a particular industry or group of industries.

• Leverage Risk.

Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.

• Securities Lending Risk.

Securities lending involves the risk that the borrower may fail to return the securities loaned in a timely manner or at all. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, an underlying fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

 

Performance

The following information is intended to help you understand the risks of investing in the fund.

The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and a hypothetical composite of market indexes over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.401k.com and log in (plan accounts) or www.fidelity.com (all other accounts) for more recent performance information.

 

Year-by-Year Returns

 

				2016	2017	2018	2019	2020	2021	2022
				9.49%	20.63%	-7.17%	26.21%	16.45%	15.98%	-18.22%

During the periods shown in the chart for Institutional Premium Class:	Returns	Quarter ended
Highest Quarter Return	18.07%	June 30, 2020
Lowest Quarter Return	-19.18%	March 31, 2020
Year-to-Date Return	6.99%	March 31, 2023

 

Average Annual Returns

 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After-tax returns for Institutional Premium Class are shown in the table below and after-tax returns for other classes will vary. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.

For the periods ended December 31, 2022	Past 1 year	Past 5 years	Life of class
Institutional Premium Class - Return Before Taxes	-18.22%	5.29%	6.51%A
Return After Taxes on Distributions	-18.64%	4.44%	5.70%A
- Return After Taxes on Distributions and Sale of Fund Shares	-10.54%	3.97%	4.99%A
Premier Class - Return Before Taxes	-18.20%	-	6.47%B
S&P 500® Index (reflects no deduction for fees, expenses, or taxes)	-18.11%	9.42%	10.34%
Fidelity Freedom Index 2060 Composite Index℠ (reflects no deduction for fees or expenses)	-18.17%	5.38%	6.61%

AFrom June 24, 2015.

 

BFrom June 24, 2020.

Investment Adviser

FMR (the Adviser) is the fund's manager.

Portfolio Manager(s)

Andrew Dierdorf (Co-Portfolio Manager) has managed the fund since 2014.

Brett Sumsion (Co-Portfolio Manager) has managed the fund since 2014.

Finola McGuire Foley (Co-Portfolio Manager) has managed the fund since 2018.

Purchase and Sale of Shares

You may buy or sell shares through a Fidelity® brokerage or mutual fund account, through a retirement account, or through an investment professional.

You may buy or sell shares in various ways:

Internet

Plan Accounts:	All Other Accounts:
www.401k.com	www.fidelity.com

Phone

Plan Accounts:

For Individual Accounts (investing through a retirement plan sponsor or other institution), refer to your plan materials or contact that institution directly.

For Retirement Plan Level Accounts:

Corporate Clients 1-800-962-1375

"Not for Profit" Clients 1-800-343-0860

All Other Accounts:

Fidelity Automated Service Telephone (FAST®) 1-800-544-5555

To reach a Fidelity representative 1-800-544-6666

Mail

Plan Accounts:
Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035	Overnight Express:   Fidelity Investments 100 Crosby Parkway Covington, KY 41015
All Other Accounts:
Additional Purchases:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0003	Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035

TDD - Service for the Deaf and Hearing Impaired

All Accounts:

1-800-544-0118

Shares of the fund are not eligible for purchase by registered investment companies or business development companies to the extent such acquisition is in reliance on Rule 12d1-4 under the Investment Company Act of 1940.

The price to buy one share is its net asset value per share (NAV). Shares will be bought at the NAV next calculated after an order is received in proper form.

The price to sell one share is its NAV. Shares will be sold at the NAV next calculated after an order is received in proper form.

The fund is open for business each day the New York Stock Exchange (NYSE) is open.

Institutional Premium Class and Premier Class shares have a minimum initial investment of $5,000,000 and $2,000,000,000, respectively. The fund may waive or lower purchase minimums in other circumstances.

Tax Information

Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to Broker-Dealers and Other Financial Intermediaries

The fund, the Adviser, Fidelity Distributors Company LLC (FDC), and/or their affiliates may pay intermediaries, which may include banks, broker-dealers, retirement plan sponsors, administrators, or service-providers (who may be affiliated with the Adviser or FDC), for the sale of fund shares and related services. These payments may create a conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.

 

Fund Summary

Fund/Class:

Fidelity Freedom® Index 2065 Fund

/Institutional Premium, Premier 

 

Investment Objective

 

Fidelity Freedom® Index 2065 Fund seeks high total return until its target retirement date. Thereafter the fund's objective will be to seek high current income and, as a secondary objective, capital appreciation.

Fee Table

The following table describes the fees and expenses that may be incurred when you buy, hold, and sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund.

 

 

Shareholder fees

(fees paid directly from your investment)

None

 

Annual Operating Expenses

(expenses that you pay each year as a % of the value of your investment)

	Institutional Premium Class	Premier Class
Management fee	0.08%	0.06%
Distribution and/or Service (12b-1) fees	None	None
Other expenses	0.00%	0.00%
Total annual operating expenses	0.08%	0.06%

This example helps compare the cost of investing in the fund with the cost of investing in other funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

 

 

	Institutional Premium Class		Premier Class
1 year	$	8	$	6
3 years	$	26	$	19
5 years	$	45	$	34
10 years	$	103	$	77

 

 

Portfolio Turnover

 

The fund will not incur transaction costs, such as commissions, when it buys and sells shares of underlying Fidelity® funds (or "turns over" its portfolio), but it could incur transaction costs if it were to buy and sell other types of securities directly. If the fund were to buy and sell other types of securities directly, a higher portfolio turnover rate could indicate higher transaction costs and could result in higher taxes when fund shares are held in a taxable account. Such costs, if incurred, would not be reflected in annual operating expenses or in the example and would affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 12% of the average value of its portfolio.

Principal Investment Strategies

• Investing primarily in a combination of Fidelity® U.S. equity funds, international equity funds, bond funds, and short-term funds (underlying Fidelity® funds), each of which (excluding any money market fund) seeks to provide investment results that correspond to the total return of a specific index.
• Allocating assets according to an asset allocation strategy shown in the glide path below that adjusts over time until it reaches an allocation similar to that of the Fidelity Freedom® Index Income Fund, approximately 10 to 19 years after the year 2065. Fidelity Management & Research Company LLC (FMR) (the Adviser) may modify the fund's asset allocations from time to time when in the interests of shareholders.

• The asset allocation shown in the glide path depicts the allocation to U.S. equity funds, international equity funds, bond funds (including U.S. investment grade bond, international bond, inflation-protected bond, and long-term treasury bond), and short-term funds.
• Buying and selling futures contracts (both long and short positions) in an effort to manage cash flows efficiently, remain fully invested, or facilitate asset allocation.
• The Adviser, under normal market conditions, will make investments that are consistent with seeking high total return for several years beyond the fund's target retirement date in an effort to achieve the fund's overall investment objective.
• Using an asset allocation among underlying Fidelity® funds and futures as of April 1, 2023, of approximately:

	U.S. Equity Funds 54%
	International Equity Funds 36%
	International Bond Funds 1%
	U.S. Investment Grade Bond Funds 4%
	Long-Term Treasury Bond Funds 5%
	Long-Term Inflation-Protected Bond Funds 0%
	Short-Term Inflation-Protected Bond Funds 0%
	Short-Term Funds 0%

* The Adviser may change these percentages over time. The allocation percentages may not add to 100% due to rounding.

• Designed for investors who anticipate retiring in or within a few years of 2065 (target retirement date) at or around age 65.

When the asset allocation of a fund matches Fidelity Freedom® Index Income Fund's asset allocation (approximately 10 to 19 years after the year indicated in the fund's name), the Board of Trustees may combine the fund with Fidelity Freedom® Index Income Fund, without shareholder approval, and the fund's shareholders will become shareholders of Fidelity Freedom® Index Income Fund.

Principal Investment Risks

Shareholders should consider that no target date fund is intended as a complete retirement program and there is no guarantee that any single fund will provide sufficient retirement income at or through your retirement. The fund's share price fluctuates, which means you could lose money by investing in the fund, including losses near, at or after the target retirement date.

• Asset Allocation Risk.

The fund is subject to risks resulting from the Adviser's asset allocation decisions. The selection of underlying funds and the allocation of the fund's assets among various asset classes could cause the fund to lose value or its results to lag relevant benchmarks or other funds with similar objectives.

• Investing in Other Funds.

The fund bears all risks of investment strategies employed by the underlying funds, including the risk that the underlying funds will not meet their investment objectives.

• Stock Market Volatility.

The Adviser will continue to invest the fund's assets in equity funds in the years following the fund's target retirement date in an effort to achieve the fund's overall investment objective. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.

• Interest Rate Changes.

Interest rate increases can cause the price of a debt security to decrease.

• Foreign Exposure.

Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Foreign exchange rates also can be extremely volatile.

• Industry Exposure.

Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect a single industry or group of related industries.

• Prepayment.

The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility if interest rates change.

• Issuer-Specific Changes.

The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

Changes in the financial condition of an issuer or counterparty (e.g., broker-dealer or other borrower in a securities lending transaction) can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's value or result in delays in recovering securities and/or capital from a counterparty.

A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security to decrease.

• Correlation to Index.

The performance of an underlying index fund and its index may vary somewhat due to factors such as fees and expenses of the underlying fund, transaction costs, sample selection, regulatory restrictions, and timing differences associated with additions to and deletions from the index. Errors in the construction or calculation of the index may occur from time to time and may not be identified and corrected for some period of time, which may have an adverse impact on an underlying fund and its shareholders.

• Passive Management Risk.

Some of the underlying funds in which the fund invests are managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities, regardless of the current or projected performance of an underlying fund's index or of the actual securities included in the index. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the performance of these underlying funds could be lower than actively managed funds that may shift their portfolio assets to take advantage of market opportunities or lessen the impact of a market decline or a decline in the value of one or more issuers. An underlying index fund may be concentrated to approximately the same extent that its index concentrates in the securities of issuers in a particular industry or group of industries.

• Leverage Risk.

Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.

• Securities Lending Risk.

Securities lending involves the risk that the borrower may fail to return the securities loaned in a timely manner or at all. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, an underlying fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

 

Performance

The following information is intended to help you understand the risks of investing in the fund.

The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and a hypothetical composite of market indexes over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.401k.com and log in (plan accounts) or www.fidelity.com (all other accounts) for more recent performance information.

 

Year-by-Year Returns

 

								2020	2021	2022
								16.49%	15.96%	-18.18%

During the periods shown in the chart for Institutional Premium Class:	Returns	Quarter ended
Highest Quarter Return	18.12%	June 30, 2020
Lowest Quarter Return	-19.17%	March 31, 2020
Year-to-Date Return	6.93%	March 31, 2023

 

Average Annual Returns

 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After-tax returns for Institutional Premium Class are shown in the table below and after-tax returns for other classes will vary. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.

For the periods ended December 31, 2022	Past 1 year	Life of class
Institutional Premium Class - Return Before Taxes	-18.18%	5.35%A
Return After Taxes on Distributions	-18.60%	4.67%A
- Return After Taxes on Distributions and Sale of Fund Shares	-10.53%	4.01%A
Premier Class - Return Before Taxes	-18.24%	6.46%B
S&P 500® Index (reflects no deduction for fees, expenses, or taxes)	-18.11%	9.73%
Fidelity Freedom Index 2065 Composite Index℠ (reflects no deduction for fees or expenses)	-18.17%	5.44%

AFrom June 28, 2019.

 

BFrom June 24, 2020.

Investment Adviser

FMR (the Adviser) is the fund's manager.

Portfolio Manager(s)

Andrew Dierdorf (Co-Portfolio Manager) has managed the fund since 2019.

Finola McGuire Foley (Co-Portfolio Manager) has managed the fund since 2019.

Brett Sumsion (Co-Portfolio Manager) has managed the fund since 2019.

Purchase and Sale of Shares

You may buy or sell shares through a Fidelity® brokerage or mutual fund account, through a retirement account, or through an investment professional.

You may buy or sell shares in various ways:

Internet

Plan Accounts:	All Other Accounts:
www.401k.com	www.fidelity.com

Phone

Plan Accounts:

For Individual Accounts (investing through a retirement plan sponsor or other institution), refer to your plan materials or contact that institution directly.

For Retirement Plan Level Accounts:

Corporate Clients 1-800-962-1375

"Not for Profit" Clients 1-800-343-0860

All Other Accounts:

Fidelity Automated Service Telephone (FAST®) 1-800-544-5555

To reach a Fidelity representative 1-800-544-6666

Mail

Plan Accounts:
Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035	Overnight Express:   Fidelity Investments 100 Crosby Parkway Covington, KY 41015
All Other Accounts:
Additional Purchases:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0003	Redemptions:   Fidelity Investments P.O. Box 770001 Cincinnati, OH 45277-0035

TDD - Service for the Deaf and Hearing Impaired

All Accounts:

1-800-544-0118

Shares of the fund are not eligible for purchase by registered investment companies or business development companies to the extent such acquisition is in reliance on Rule 12d1-4 under the Investment Company Act of 1940.

The price to buy one share is its net asset value per share (NAV). Shares will be bought at the NAV next calculated after an order is received in proper form.

The price to sell one share is its NAV. Shares will be sold at the NAV next calculated after an order is received in proper form.

The fund is open for business each day the New York Stock Exchange (NYSE) is open.

Institutional Premium Class and Premier Class shares have a minimum initial investment of $5,000,000 and $2,000,000,000, respectively. The fund may waive or lower purchase minimums in other circumstances.

Tax Information

Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to Broker-Dealers and Other Financial Intermediaries

The fund, the Adviser, Fidelity Distributors Company LLC (FDC), and/or their affiliates may pay intermediaries, which may include banks, broker-dealers, retirement plan sponsors, administrators, or service-providers (who may be affiliated with the Adviser or FDC), for the sale of fund shares and related services. These payments may create a conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.

 

Fund Basics

Investment Details

 

Investment Objective

Fidelity Freedom® Index Income Fund seeks high current income and, as a secondary objective, capital appreciation.

Each of Fidelity Freedom® Index 2005 Fund, Fidelity Freedom® Index 2010 Fund, Fidelity Freedom® Index 2015 Fund, Fidelity Freedom® Index 2020 Fund, Fidelity Freedom® Index 2025 Fund, Fidelity Freedom® Index 2030 Fund, Fidelity Freedom® Index 2035 Fund, Fidelity Freedom® Index 2040 Fund, Fidelity Freedom® Index 2045 Fund, Fidelity Freedom® Index 2050 Fund, Fidelity Freedom® Index 2055 Fund, Fidelity Freedom® Index 2060 Fund, and Fidelity Freedom® Index 2065 Fund seeks high total return until its target retirement date. Thereafter the fund's objective will be to seek high current income and, as a secondary objective, capital appreciation.

Principal Investment Strategies

The Adviser invests each fund's assets primarily in a combination of Fidelity® funds: U.S. equity funds, international equity funds, bond funds, and short-term funds (underlying Fidelity® funds). The funds differ primarily due to their asset allocations among these fund types. Because each fund allocates its assets among the underlying Fidelity® funds based on fund types rather than on the actual holdings of the underlying Fidelity® funds, each fund may have greater exposure to an asset class to the extent that an underlying Fidelity® fund holds securities of more than one asset class. The asset allocation strategy for each fund is designed to provide an approach to asset allocation that is neither overly aggressive nor overly conservative.

The Adviser allocates the assets of each fund (except Fidelity Freedom® Index Income Fund) according to an asset allocation strategy that adjusts over time. Each fund's name refers to the approximate retirement year of the investors for whom the fund's asset allocation strategy is designed. For example, Fidelity Freedom® Index 2065 Fund, which is designed for investors planning to retire around the year 2065 and at or around age 65, has an asset allocation with a substantial portion of its assets invested in U.S. equity funds and international equity funds and a modest portion of its assets invested in bond funds. By contrast, Fidelity Freedom® Index 2005 Fund, which has reached its target retirement year, has an asset allocation with a modest portion of its assets invested in U.S. equity funds and international equity funds and a substantial portion of its assets invested in bond funds and short-term funds.

Fidelity Freedom® Index Income Fund is designed for investors in their retirement years. The Adviser allocates the fund's assets according to a stable asset allocation that emphasizes bond funds and short-term funds, but also includes an allocation to U.S. equity funds and international equity funds.

The Adviser may buy and sell futures contracts (both long and short positions) in each fund in an effort to manage cash flows efficiently, remain fully invested, or facilitate asset allocation. Depending on how they are used, these instruments may effectively increase or decrease a fund's allocation in one or more asset classes. Cash and other short-term instruments used to collateralize futures contracts are included in the short-term funds asset class.

Information concerning each fund's actual allocations to underlying funds will be available in each fund's shareholder report and on the funds' website from time to time.

Selecting a Fidelity Freedom® Index Fund

There are many considerations relevant to fund selection, including your individual income replacement goals (i.e., how much income do you expect to need in retirement), other expected income after retirement, inflation, other assets and risk tolerance. You should also consider that no target date fund is intended as a complete retirement program and there is no guarantee that any single fund or a collection of funds will provide sufficient income in your retirement years. When selecting a fund, in addition to the considerations discussed above, you may wish to consider a fund with a target year near the year in which you anticipate your retirement to begin, having reached the age of at or around 65. It is important to note that the funds' asset allocation strategy is designed to provide income for shareholders through their retirement years and assumes that an investor will withdraw the value of his or her account gradually after retirement. Meeting your retirement goals is dependent upon many factors, including the amount you save and the period over which you do so. Investors should select the fund that best meets their individual circumstances and investment goals.

Asset Allocation Framework

The following chart illustrates how each fund's approximate asset allocation (except Fidelity Freedom® Index Income Fund) is expected to change over time. The funds' actual target asset allocations may differ from this illustration. The Adviser may modify each fund's asset allocations from time to time when in the interests of shareholders.

When the asset allocation of a fund matches Fidelity Freedom® Index Income Fund's asset allocation (approximately 10 to 19 years after the year indicated in the fund's name), the Board of Trustees may combine the fund with Fidelity Freedom® Index Income Fund, without shareholder approval, and the fund's shareholders will become shareholders of Fidelity Freedom® Index Income Fund.

The Adviser may modify the asset allocation strategy for any fund.

Description of Underlying Fidelity® Funds

Each fund invests in underlying Fidelity® funds. Although the underlying Fidelity® funds are categorized generally as U.S. equity, international equity, bond, and short-term funds, many of the underlying Fidelity® funds may invest in a mix of securities of international and U.S. issuers, investment-grade bonds, and other securities. Many of the underlying Fidelity® funds may also use various techniques, such as buying and selling futures contracts and exchange traded funds, to increase or decrease a fund's exposure to changing security prices or other factors that affect security values. The Adviser may modify the selection of underlying Fidelity® funds for any fund from time to time. When modifying the selection of underlying Fidelity® funds and transitioning in or out of one or more underlying Fidelity® funds, the Adviser may invest a fund's assets directly in securities for a period of time. Visit each fund's website for more information about the fund's approximate asset allocation to each underlying Fidelity® fund. The Adviser may change these allocations over time.

A brief description of the underlying Fidelity® funds each fund may utilize as of the date of this prospectus, is provided in the funds' Statement of Additional Information (SAI). More detailed information about each underlying Fidelity® fund is available in each underlying Fidelity® fund's prospectus.  A copy of any underlying Fidelity® fund's prospectus is available at www.fidelity.com or institutional.fidelity.com.

Principal Investment Risks

Many factors affect each fund's performance. Developments that disrupt global economies and financial markets, such as pandemics and epidemics, may magnify factors that affect a fund's performance. A fund's share price changes daily based on the performance of the underlying Fidelity® funds in which it invests. The ability of each fund to meet its investment objective is directly related to its asset allocation among underlying Fidelity® funds and the ability of those funds to meet their investment objectives. If the Adviser's asset allocation strategy does not work as intended, a fund may not achieve its objective. Shareholders should consider that no target date fund is intended as a complete retirement program and there is no guarantee that any single fund will provide sufficient retirement income at or through your retirement. The fund's share price fluctuates, which means you could lose money by investing in the fund, including losses near, at, or after the target retirement date.

The following factors can significantly affect a fund's performance:

Asset Allocation Risk. A fund is subject to risks resulting from the Adviser's asset allocation decisions. The selection of underlying funds and the allocation of the fund's assets among various asset classes could cause the fund to lose value or its results to lag relevant benchmarks or other funds with similar objectives.

Investing in Other Funds. A fund bears all risks of investment strategies employed by the underlying funds. A fund does not control the investments of the underlying funds, which may have different investment objectives and may engage in investment strategies that a fund would not engage in directly. Aggregation of underlying fund holdings may result in indirect concentration of assets in a particular industry or group of industries, or in a single issuer, which may increase volatility.

Stock Market Volatility. The Adviser will continue to invest each fund's assets in equity funds in the years following the fund's target retirement date in an effort to achieve the fund's overall investment objective. The value of equity securities fluctuates in response to issuer, political, market, and economic developments. Fluctuations, especially in foreign markets, can be dramatic over the short as well as long term, and different parts of the market, including different market sectors, and different types of equity securities can react differently to these developments. For example, stocks of companies in one sector can react differently from those in another, large cap stocks can react differently from small cap stocks, "growth" stocks can react differently from "value" stocks, and stocks selected using quantitative or technical analysis can react differently than stocks selected using fundamental analysis. Issuer, political, or economic developments can affect a single issuer, issuers within an industry or economic sector or geographic region, or the market as a whole. Changes in the financial condition of a single issuer can impact the market as a whole. Terrorism and related geo-political risks have led, and may in the future lead, to increased short-term market volatility and may have adverse long-term effects on world economies and markets generally.

Interest Rate Changes. Debt securities, including money market securities, have varying levels of sensitivity to changes in interest rates. In general, the price of a debt security can fall when interest rates rise and can rise when interest rates fall. Securities with longer maturities and certain types of securities, such as mortgage securities and the securities of issuers in the financial services sector, can be more sensitive to interest rate changes, meaning the longer the maturity of a security, the greater the impact a change in interest rates could have on the security's price. Short-term and long-term interest rates do not necessarily move in the same amount or the same direction. Short-term securities tend to react to changes in short-term interest rates, and long-term securities tend to react to changes in long-term interest rates. Securities with floating interest rates can be less sensitive to interest rate changes, but may decline in value if their interest rates do not rise as much as interest rates in general. Securities whose payment at maturity is based on the movement of all or part of an index and inflation-protected debt securities may react differently from other types of debt securities. Some countries experience low or negative interest rates from time to time, which may magnify interest rate risk for the market as a whole and for a fund. In market environments where interest rates are rising, issuers may be less willing or able to make principal and/or interest payments on securities when due. Although the transition process away from certain benchmark rates, including London Interbank Offered Rate (LIBOR) (an indicative measure of the average interest rate at which major global banks could borrow from one another), has become increasingly well-defined, any potential effects of the transition away from LIBOR and other benchmark rates on financial markets, a fund or the financial instruments in which a fund invests can be difficult to ascertain and may adversely impact a fund's performance.

Foreign Exposure. Foreign securities, foreign currencies, and securities issued by U.S. entities with substantial foreign operations, and securities for which an entity located in a foreign country provides credit support or a maturity-shortening structure can involve additional risks relating to political, economic, or regulatory conditions in foreign countries. These risks include fluctuations in foreign exchange rates; withholding or other taxes; trading, settlement, custodial, and other operational risks; and the less stringent investor protection and disclosure standards of some foreign markets. All of these factors can make foreign investments, especially those in emerging markets, more volatile and potentially less liquid than U.S. investments. In addition, foreign markets can perform differently from the U.S. market.

Investing in emerging markets can involve risks in addition to and greater than those generally associated with investing in more developed foreign markets. The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors. Emerging markets economies can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. All of these factors can make emerging markets securities more volatile and potentially less liquid than securities issued in more developed markets.

Global economies and financial markets are becoming increasingly interconnected, which increases the possibilities that conditions in one country or region might adversely impact issuers or providers in, or foreign exchange rates with, a different country or region.

Foreign Currency Transactions. A fund that invests in securities denominated in foreign currencies may enter into forward foreign currency exchange contracts. A forward foreign currency exchange contract, which involves an obligation to purchase or sell a specific currency at a future date at a price set at the time of the contract, reduces a fund's exposure to changes in the value of the currency it will deliver and increases its exposure to changes in the value of the currency it will receive for the duration of the contract. Certain foreign currency transactions may also be settled in cash rather than the actual delivery of the relevant currency. A contract to sell a foreign currency would limit any potential gain that might be realized if the value of the hedged currency increases. Suitable hedging transactions may not be available in all circumstances, may not be successful, and may eliminate any chance for the fund to benefit from favorable fluctuations in relevant foreign currencies.

Industry Exposure. Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect a single industry or a group of related industries, and the securities of companies in that industry or group of industries could react similarly to these or other developments. In addition, from time to time, a small number of companies may represent a large portion of a single industry or a group of related industries as a whole, and these companies can be sensitive to adverse economic, regulatory, or financial developments.

Prepayment. Many types of debt securities, including mortgage securities, and inflation- protected debt securities, are subject to prepayment risk. Prepayment risk occurs when the issuer of a security can repay principal prior to the security's maturity. Securities subject to prepayment can offer less potential for gains during a declining interest rate environment and similar or greater potential for loss in a rising interest rate environment. In addition, the potential impact of prepayment features on the price of a debt security can be difficult to predict and result in greater volatility.

Issuer-Specific Changes. Changes in the financial condition of an issuer or counterparty (e.g., broker-dealer or other borrower in a securities lending transaction), changes in specific economic or political conditions that affect a particular type of security or issuer, and changes in general economic or political conditions can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's credit quality or value or result in delays in recovering securities and/or capital from a counterparty. Entities providing credit support or a maturity-shortening structure also can be affected by these types of changes, and if the structure of a security fails to function as intended, the security could decline in value. The value of securities of smaller and medium size, less well-known issuers can be more volatile than that of larger issuers. Lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities or junk bonds) tend to be more sensitive to these changes than higher-quality debt securities. Lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities or junk bonds) involve greater risk of default or price changes due to changes in the credit quality of the issuer. The value of lower-quality debt securities often fluctuates in response to company, political, or economic developments and can decline significantly over short as well as long periods of time or during periods of general or regional economic difficulty.

Correlation to Index. The performance of an underlying index fund and its index may vary somewhat due to factors such as fees and expenses of the underlying fund, transaction costs, imperfect correlation between the underlying fund's securities and those in its index, timing differences associated with additions to and deletions from the index, and changes in the component securities. In addition, an underlying index fund may not be able to invest in certain securities in its index or invest in them in the exact proportions in which they are represented in the index due to regulatory restrictions. An underlying index fund may not be fully invested at times, either as a result of cash flows into the underlying fund or as a result of reserves of cash held by the underlying fund to meet redemptions. The use of sampling techniques or futures or other derivative positions may affect an underlying index fund's ability to achieve close correlation with its index. Errors in the construction or calculation of the index may occur from time to time and may not be identified and corrected for some period of time, which may have an adverse impact on an underlying fund and its shareholders.

Passive Management Risk. Some of the underlying funds in which each fund invests are managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities, regardless of the current or projected performance of an underlying fund's index or of the actual securities included in the index. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the performance of these underlying funds could be lower than actively managed funds that may shift their portfolio assets to take advantage of market opportunities or lessen the impact of a market decline or a decline in the value of one or more issuers. The structure and composition of an underlying index fund's index will affect the performance, volatility, and risk of the index and, consequently, the performance, volatility, and risk of the fund. An underlying index fund may be concentrated to approximately the same extent that its index concentrates in the securities of issuers in a particular industry or group of industries.

Leverage Risk. Derivatives, forward-settling securities and short sale transactions involve leverage because they can provide investment exposure in an amount exceeding the initial investment. Leverage can magnify investment risks and cause losses to be realized more quickly. A small change in the underlying asset, instrument, or index can lead to a significant loss. Forward-settling securities and short sale transactions also involve the risk that a security will not be issued, delivered, available for purchase, or paid for when anticipated. An increase in the market price of securities sold short will result in a loss. Government legislation or regulation could affect the use of these transactions and could limit a fund's ability to pursue its investment strategies.

Inflation-Protected Debt Exposure. Inflation-protected debt securities tend to react to changes in real interest rates. Real interest rates represent nominal (stated) interest rates reduced by the expected impact of inflation. In general, the price of an inflation-protected debt security can fall when real interest rates rise, and can rise when real interest rates fall. Interest payments on inflation-protected debt securities can be unpredictable and will vary as the principal and/or interest is adjusted for inflation.

Securities Lending Risk. Securities lending involves the risk that the borrower may fail to return the securities loaned in a timely manner or at all. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, an underlying fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral. These delays and costs could be greater for foreign securities. If a fund is not able to recover the securities loaned, the fund may sell the collateral and purchase a replacement investment in the market. The value of the collateral could decrease below the value of the replacement investment by the time the replacement investment is purchased.

In response to market, economic, political, or other conditions, a fund may temporarily use a different investment strategy for defensive purposes. If the fund does so, different factors could affect its performance and the fund may not achieve its investment objective.

 

Fundamental Investment Policies

The following is fundamental, that is, subject to change only by shareholder approval:

Fidelity Freedom® Index Income Fund seeks high current income and, as a secondary objective, capital appreciation.

Each of Fidelity Freedom® Index 2005 Fund, Fidelity Freedom® Index 2010 Fund, Fidelity Freedom® Index 2015 Fund, Fidelity Freedom® Index 2020 Fund, Fidelity Freedom® Index 2025 Fund, Fidelity Freedom® Index 2030 Fund, Fidelity Freedom® Index 2035 Fund, Fidelity Freedom® Index 2040 Fund, Fidelity Freedom® Index 2045 Fund, Fidelity Freedom® Index 2050 Fund, Fidelity Freedom® Index 2055 Fund, and Fidelity Freedom® Index 2060 Fund seeks high total return until its target retirement date. Thereafter the fund's objective will be to seek high current income and, as a secondary objective, capital appreciation.

 

 

 

Non-Fundamental Investment Policies

Each of Fidelity Freedom® Index 2065 Fund's investment objective is non-fundamental and may be changed without shareholder approval.

 

Valuing Shares

 

Each fund is open for business each day the NYSE is open.

The NAV is the value of a single share. Fidelity normally calculates NAV each business day as of the times noted in the table below. Each fund's assets normally are valued as of this time for the purpose of computing NAV. Fidelity calculates NAV separately for each class of shares of a multiple class fund.

Fund	NAV Calculation Times (Eastern Time)
Fidelity Freedom® Index Income Fund	4:00 p.m.
Fidelity Freedom® Index 2005 Fund	4:00 p.m.
Fidelity Freedom® Index 2010 Fund	4:00 p.m.
Fidelity Freedom® Index 2015 Fund	4:00 p.m.
Fidelity Freedom® Index 2020 Fund	4:00 p.m.
Fidelity Freedom® Index 2025 Fund	4:00 p.m.
Fidelity Freedom® Index 2030 Fund	4:00 p.m.
Fidelity Freedom® Index 2035 Fund	4:00 p.m.
Fidelity Freedom® Index 2040 Fund	4:00 p.m.
Fidelity Freedom® Index 2045 Fund	4:00 p.m.
Fidelity Freedom® Index 2050 Fund	4:00 p.m.
Fidelity Freedom® Index 2055 Fund	4:00 p.m.
Fidelity Freedom® Index 2060 Fund	4:00 p.m.
Fidelity Freedom® Index 2065 Fund	4:00 p.m.

NAV is not calculated and a fund will not process purchase and redemption requests submitted on days when the fund is not open for business. The time at which shares are priced and until which purchase and redemption orders are accepted may be changed as permitted by the Securities and Exchange Commission (SEC).

NAV is calculated using the values of the underlying Fidelity® funds in which a fund invests. Shares of underlying Fidelity® funds are valued at their respective NAVs. For an explanation of the circumstances under which the underlying Fidelity® funds will use fair value pricing and the effects of using fair value pricing, see the underlying Fidelity® funds' prospectuses and SAIs.

To the extent that underlying Fidelity® fund assets are traded in other markets on days when a fund is not open for business, the value of the fund's assets may be affected on those days. In addition, trading in some underlying Fidelity® fund assets may not occur on days when a fund is open for business.

 

Shareholder Information

Additional Information about the Purchase and Sale of Shares

 

As used in this prospectus, the term "shares" generally refers to the shares offered through this prospectus.

General Information

Information on Fidelity

Fidelity Investments was established in 1946 to manage one of America's first mutual funds. Today, Fidelity is one of the world's largest providers of financial services.

In addition to its fund business, the company operates one of America's leading brokerage firms, Fidelity Brokerage Services LLC. Fidelity is also a leader in providing tax-advantaged retirement plans for individuals investing on their own or through their employer. 

Ways to Invest

Subject to the purchase and sale requirements stated in this prospectus, you may buy or sell shares through a Fidelity® brokerage account or a Fidelity® mutual fund account. If you buy or sell shares (other than by exchange) through a Fidelity® brokerage account, your transactions generally involve your Fidelity® brokerage core (a settlement vehicle included as part of your Fidelity® brokerage account). 

If you do not currently have a Fidelity® brokerage account or a Fidelity® mutual fund account and would like to invest in a fund, you may need to complete an application. For more information about a Fidelity® brokerage account or a Fidelity® mutual fund account, please visit Fidelity's web site at www.fidelity.com, call 1-800-FIDELITY, or visit a Fidelity Investor Center (call 1-800-544-9797 for the center nearest you). 

You may also buy or sell shares through a retirement account (such as an IRA or an account funded through salary deduction) or an investment professional. Retirement specialists are available at 1-800-544-4774 to answer your questions about Fidelity® retirement products. If you buy or sell shares through a retirement account or an investment professional, the procedures for buying, selling, and exchanging shares and the account features, policies, and fees may differ from those discussed in this prospectus. Fees in addition to those discussed in this prospectus may apply. For example, you may be charged a transaction fee if you buy or sell shares through a non-Fidelity broker or other investment professional. 

Information on Placing Orders

You should include the following information with any order: 

• Your name
• Your account number
• Type of transaction requested
• Name(s) of fund(s) and class(es)
• Dollar amount or number of shares

Certain methods of contacting Fidelity may be unavailable or delayed (for example, during periods of unusual market activity). In addition, the level and type of service available may be restricted. 

Frequent Purchases and Redemptions

A fund may reject for any reason, or cancel as permitted or required by law, any purchase or exchange, including transactions deemed to represent excessive trading, at any time. 

Excessive trading of fund shares can harm shareholders in various ways, including reducing the returns to long-term shareholders by increasing costs to a fund (such as brokerage commissions or spreads paid to dealers who sell money market instruments), disrupting portfolio management strategies, and diluting the value of the shares in cases in which fluctuations in markets are not fully priced into the fund's NAV.

Each fund reserves the right at any time to restrict purchases or exchanges or impose conditions that are more restrictive on excessive trading than those stated in this prospectus.  

Excessive Trading Policy for each fund

The Board of Trustees has adopted policies designed to discourage excessive trading of fund shares. Excessive trading activity in a fund is measured by the number of roundtrip transactions in a shareholder's account and each class of a multiple class fund is treated separately. A roundtrip transaction occurs when a shareholder sells fund shares (including exchanges) within 30 days of the purchase date. 

Shareholders with two or more roundtrip transactions in a single fund within a rolling 90-day period will be blocked from making additional purchases or exchange purchases of the fund for 85 days. Shareholders with four or more roundtrip transactions across all Fidelity® funds within any rolling 12-month period will be blocked for at least 85 days from additional purchases or exchange purchases across all Fidelity® funds. Any roundtrip within 12 months of the expiration of a multi-fund block will initiate another multi-fund block. Repeat offenders may be subject to long-term or permanent blocks on purchase or exchange purchase transactions in any account under the shareholder's control at any time. In addition to enforcing these roundtrip limitations, the fund may in its discretion restrict, reject, or cancel any purchases or exchanges that, in the Adviser's opinion, may be disruptive to the management of the fund or otherwise not be in the fund's interests. 

Exceptions 

The following transactions are exempt from the fund's excessive trading policy described above: (i) systematic withdrawal and/or contribution programs, (ii) mandatory retirement distributions, (iii) transactions initiated by a plan sponsor or sponsors of certain employee benefit plans or other related accounts, (iv) transactions within a qualified advisory program, and (v) transactions initiated by the trustee or adviser to a donor-advised charitable gift fund, qualified fund of funds, or other strategy funds.

A qualified advisory program is one that demonstrates to Fidelity that the program has investment strategies and trading policies designed to protect the interests of long-term investors and meets specific criteria outlined by Fidelity.

A qualified fund of funds is a mutual fund, qualified tuition program, or other strategy fund consisting of qualified plan assets that either applies the fund's excessive trading policies to shareholders at the fund of funds level, or demonstrates that the fund of funds has an investment strategy coupled with policies designed to control frequent trading that are reasonably likely to be effective as determined by the fund's Treasurer.

Fidelity may choose not to monitor transactions below certain dollar value thresholds.

Omnibus Accounts

Omnibus accounts, in which shares are held in the name of an intermediary on behalf of multiple investors, are a common form of holding shares among retirement plans and financial intermediaries such as brokers, advisers, and third-party administrators. Individual trades in omnibus accounts are often not disclosed to the fund, making it difficult to determine whether a particular shareholder is engaging in excessive trading. Excessive trading in omnibus accounts is likely to go undetected by the fund and may increase costs to the fund and disrupt its portfolio management. 

Under policies adopted by the Board of Trustees, intermediaries will be permitted to apply the fund's excessive trading policy (described above), or their own excessive trading policy if approved by the Adviser. In these cases, the fund will typically not request or receive individual account data but will rely on the intermediary to monitor trading activity in good faith in accordance with its or the fund's policies. Reliance on intermediaries increases the risk that excessive trading may go undetected. For other intermediaries, the fund will generally monitor trading activity at the omnibus account level to attempt to identify disruptive trades. The fund may request transaction information, as frequently as daily, from any intermediary at any time, and may apply the fund's policy to transactions that exceed thresholds established by the Board of Trustees. The fund may prohibit purchases of fund shares by an intermediary or by some or all of any intermediary's clients. There is no assurance that the Adviser will request data with sufficient frequency to detect or deter excessive trading in omnibus accounts effectively. 

If you purchase or sell fund shares through a financial intermediary, you may wish to contact the intermediary to determine the policies applicable to your account. 

Retirement Plans

For employer-sponsored retirement plans, only participant directed exchanges count toward the roundtrip limits. Employer-sponsored retirement plan participants whose activity triggers a purchase or exchange block will be permitted one trade every calendar quarter. In the event of a block, employer and participant contributions and loan repayments by the participant may still be invested in the fund. 

Other Information about the Excessive Trading Policy 

The fund's Treasurer is authorized to suspend the fund's policies during periods of severe market turbulence or national emergency. The fund reserves the right to modify its policies at any time without prior notice. 

The fund does not knowingly accommodate frequent purchases and redemptions of fund shares by investors, except to the extent permitted by the policies described above. 

As described in "Valuing Shares," the fund also uses fair value pricing to help reduce arbitrage opportunities available to short-term traders. There is no assurance that the fund's excessive trading policy will be effective, or will successfully detect or deter excessive or disruptive trading. 

Buying Shares

Eligibility

Shares are generally available only to investors residing in the United States.

Shares of the fund are not eligible for purchase by registered investment companies or business development companies to the extent such acquisition is in reliance on Rule 12d1-4 under the Investment Company Act of 1940.

Except as described below, Institutional Premium Class and Premier Class shares are generally not available to intermediaries that would meet the eligibility requirements by aggregating the holdings of underlying accounts. An intermediary that holds Institutional Premium Class or Premier Class shares within an omnibus account must agree that it will be able to offer the shares in accordance with the terms of this prospectus. Intermediaries may include broker-dealers, institutional accounts, insurance, bank trust, third-party administrators and registered investment advisers.

For individual accounts maintained by the Adviser or its affiliates, and for omnibus accounts for which Fidelity provides recordkeeping services, the Adviser or an affiliate will monitor fund balances at the individual account level.

Initial purchase and balance minimums, if applicable, generally will apply to aggregate account balances at the Fidelity Freedom® Index Fund level for employer-sponsored retirement plans (including profit sharing, 401(k), 403(b), 457(b), and similar plans) and the provider level for managed account programs that charge an asset-based fee. Any initial purchase and balance minimums generally will apply at the investing fund level for mutual funds.

Certain retirement plan accounts may be aggregated for purposes of meeting any initial purchase and balance minimums. Please contact Fidelity for more information.

Investors eligible to purchase Institutional Premium Class and Premier Class shares may also be eligible to purchase Investor Class shares, shares of the fund that are not offered through this prospectus. Each class has different expenses and features, as described in its prospectus. Investor Class shares have higher expenses than Institutional Premium Class and Premier Class shares.

Investors who are eligible to purchase Premier Class of Fidelity Freedom® Blend Funds also are eligible to purchase Premier Class of Fidelity Freedom® Index Funds.

Minimum Waivers

There is no initial purchase minimum or minimum balance for Institutional Premium Class for employer-sponsored retirement plans, qualified tuition programs for which Fidelity serves as investment manager, and Fidelity health savings accounts. In addition, each fund may waive or lower purchase minimums in other circumstances.

Price to Buy

The price to buy one share is its NAV. Shares are sold without a sales charge.

Shares will be bought at the NAV next calculated after an order is received in proper form.

Each fund has authorized certain intermediaries to accept orders to buy shares on its behalf. When authorized intermediaries receive an order in proper form, the order is considered as being placed with the fund, and shares will be bought at the  NAV next calculated after the order is received by the authorized intermediary.

Provided a fund receives an order to buy shares in proper form before the close of business, the fund may place an order to buy shares of an underlying Fidelity® fund after the close of business, pursuant to a pre-determined allocation, and receive that day's NAV.

Each fund may stop offering shares completely or may offer shares only on a limited basis, for a period of time or permanently.

If your payment is not received and collected, your purchase may be canceled and you could be liable for any losses or fees a fund or Fidelity has incurred.

Certain financial institutions that have entered into sales agreements with FDC may enter confirmed purchase orders on behalf of customers by phone, with payment to follow no later than the time when Institutional Premium Class and Premier Class shares are priced on the following business day. If payment is not received by that time, the order will be canceled and the financial institution could be held liable for resulting fees or losses.

Under applicable anti-money laundering rules and other regulations, purchase orders may be suspended, restricted, or canceled and the monies may be withheld.

Selling Shares

The price to sell one share is its NAV.

Shares will be sold at the NAV next calculated after an order is received in proper form.

Normally, redemptions will be processed by the next business day, but it may take up to seven days to pay the redemption proceeds if making immediate payment would adversely affect a fund.

Each fund has authorized certain intermediaries to accept orders to sell shares on its behalf. When authorized intermediaries receive an order in proper form, the order is considered as being placed with the fund, and shares will be sold at the NAV next calculated after the order is received by the authorized intermediary. If applicable, orders by funds of funds for which Fidelity serves as investment manager will be treated as received by the fund at the same time that the corresponding orders are received in proper form by the funds of funds.

Provided a fund receives an order to sell shares in proper form before the close of business, the fund may place an order to sell shares of an underlying Fidelity® fund after the close of business, pursuant to a pre-determined allocation, and receive that day's NAV.

See "Policies Concerning the Redemption of Fund Shares" below for additional redemption information.

A signature guarantee is designed to protect you and Fidelity from fraud. Fidelity may require that your request be made in writing and include a signature guarantee in certain circumstances, such as:

• When you wish to sell more than $100,000 worth of shares.
• When the address on your account (record address) has changed within the last 15 days or you are requesting that a check be mailed to an address different than the record address.
• When you are requesting that redemption proceeds be paid to someone other than the account owner.
• In certain situations when the redemption proceeds are being transferred to a Fidelity® brokerage or mutual fund account with a different registration.

You should be able to obtain a signature guarantee from a bank, broker (including Fidelity® Investor Centers), dealer, credit union (if authorized under state law), securities exchange or association, clearing agency, or savings association. A notary public cannot provide a signature guarantee.

When you place an order to sell shares, note the following:

• Redemption proceeds (other than exchanges) may be delayed until money from prior purchases sufficient to cover your redemption has been received and collected.

• Redemptions may be suspended or payment dates postponed when the NYSE is closed (other than weekends or holidays), when trading on the NYSE is restricted, or as permitted by the SEC.
• Redemption proceeds may be paid in securities or other property rather than in cash if the Adviser determines it is in the best interests of a fund.

• You will not receive interest on amounts represented by uncashed redemption checks.

• If you hold your shares in a Fidelity® brokerage or mutual fund account and your redemption check remains uncashed for six months, the check may be invested in additional shares at the NAV next calculated on the day of the investment.
• Under applicable anti-money laundering rules and other regulations, redemption requests may be suspended, restricted, canceled, or processed and the proceeds may be withheld.

Policies Concerning the Redemption of Fund Shares

If your account is held directly with a fund, the length of time that a fund typically expects to pay redemption proceeds depends on the method you have elected to receive such proceeds. A fund typically expects to make payment of redemption proceeds by wire, automated clearing house (ACH) or by issuing a check by the next business day following receipt of a redemption order in proper form. Proceeds from the periodic and automatic sale of shares of a Fidelity® money market fund that are used to buy shares of another Fidelity® fund are settled simultaneously.

If your account is held through an intermediary, the length of time that a fund typically expects to pay redemption proceeds depends, in part, on the terms of the agreement in place between the intermediary and a fund. For redemption proceeds that are paid either directly to you from a fund or to your intermediary for transmittal to you, a fund typically expects to make payments by wire, by ACH or by issuing a check on the next business day following receipt of a redemption order in proper form from the intermediary by a fund. Redemption orders that are processed through investment professionals that utilize the National Securities Clearing Corporation will generally settle one to three business days following receipt of a redemption order in proper form.

As noted elsewhere, payment of redemption proceeds may take longer than the time a fund typically expects and may take up to seven days from the date of receipt of the redemption order as permitted by applicable law.

Redemption Methods Available. Generally a fund expects to pay redemption proceeds in cash. To do so, a fund typically expects to satisfy redemption requests either by using available cash (or cash equivalents) or by selling portfolio securities. On a less regular basis, a fund may also satisfy redemption requests by utilizing one or more of the following sources, if permitted: borrowing from another Fidelity® fund; drawing on an available line or lines of credit from a bank or banks; or using reverse repurchase agreements. These methods may be used during both normal and stressed market conditions.

In addition to paying redemption proceeds in cash, a fund reserves the right to pay part or all of your redemption proceeds in readily marketable securities instead of cash (redemption in-kind). Redemption in-kind proceeds will typically be made by delivering the selected securities to the redeeming shareholder within seven days after the receipt of the redemption order in proper form by a fund.

Converting Shares

 

 

Each fund will automatically convert your Investor Class shares, a class of shares of the fund that is not offered through this prospectus, or Institutional Premium Class shares of the fund, as applicable, held in your retirement plan account to Premier Class shares if Premier Class of the same fund is available under your retirement plan.

Each fund may convert your Premier Class shares held in your retirement plan account to Investor Class or Institutional Premium Class shares of the same fund, as applicable, if your retirement plan is no longer eligible to offer Premier Class. Information on Investor Class shares can be found in that class's prospectus. Investors will be notified in writing before any such conversion.

A conversion will be based on the respective NAVs of the two classes, without the imposition of any fees, on the trade date of the conversion. A conversion between share classes of the same fund is a non-taxable event.

Exchanging Shares

 

An exchange involves the redemption of all or a portion of the shares of one fund and the purchase of shares of another fund.

As a shareholder, you have the privilege of exchanging shares for shares of other Fidelity® funds.

However, you should note the following policies and restrictions governing exchanges:

• If your shares are held in a retirement plan, they may be exchanged into shares of any class of a Fidelity® fund available through your plan.
• The exchange limit may be modified for accounts held by certain institutional retirement plans to conform to plan exchange limits and Department of Labor regulations. See your retirement plan materials for further information.
• Each fund may refuse any exchange purchase for any reason. For example, each fund may refuse exchange purchases by any person or group if, in the Adviser's judgment, the fund would be unable to invest the money effectively in accordance with its investment objective and policies, or would otherwise potentially be adversely affected.
• Before any exchange, read the prospectus for the shares you are purchasing, including any purchase and sale requirements.
• The shares you are acquiring by exchange must be available for sale in your state.
• Exchanges may have tax consequences for you if performed outside of a qualifying account.
• If you are exchanging between accounts that are not registered in the same name, address, and taxpayer identification number (TIN), there may be additional requirements.
• Under applicable anti-money laundering rules and other regulations, exchange requests may be suspended, restricted, canceled, or processed and the proceeds may be withheld.

The funds may terminate or modify exchange privileges in the future.

Other funds may have different exchange restrictions and minimums. Check each fund's prospectus for details.

Features and Policies

 

Features

The following features may be available to buy and sell shares of a fund or to move money to and from your account, if you are investing through a Fidelity® brokerage account or a Fidelity® mutual fund account. Please visit Fidelity's web site at www.fidelity.com or call 1-800-544-6666 for more information.

Electronic Funds Transfer: electronic money movement through the Automated Clearing House   To transfer money between a bank account and a Fidelity® brokerage account or Fidelity® mutual fund account.  You can use electronic funds transfer to: Make periodic (automatic) purchases of Fidelity® fund shares or payments to your Fidelity® brokerage account.  Make periodic (automatic) redemptions of Fidelity® fund shares or withdrawals from your Fidelity® brokerage account.

Wire: electronic money movement through the Federal Reserve wire system   To transfer money between a bank account and a Fidelity® brokerage account or Fidelity® mutual fund account.

Automatic Transactions: periodic (automatic) transactions   To directly deposit all or a portion of your compensation from your employer (or the U.S. Government, in the case of Social Security) into a Fidelity® brokerage account or Fidelity® mutual fund account.   To make contributions from a Fidelity® mutual fund account to a Fidelity® mutual fund IRA.    To sell shares of a Fidelity® money market fund and simultaneously to buy shares of another Fidelity® fund in a Fidelity® mutual fund account.

Policies

The following apply to you as a shareholder.

Combination with Fidelity Freedom® Index Income Fund. Each fund may be combined with Fidelity Freedom® Index Income Fund, without a vote of shareholders, if the funds' Board of Trustees determines at the time of the proposed combination that combining the funds is in the best interests of the funds and their shareholders. Prior to a combination, Fidelity will notify shareholders of a fund of the combination and any tax consequences.

Statements that Fidelity sends to you, if applicable, include the following:

• Confirmation statements (after transactions affecting your fund balance except, to the extent applicable, reinvestment of distributions in the fund or another fund and certain transactions through automatic investment or withdrawal programs).
• Monthly or quarterly account statements (detailing fund balances and all transactions completed during the prior month or quarter).

Current regulations allow Fidelity to send a single copy of shareholder documents for Fidelity® funds, such as prospectuses, annual and semi-annual reports, and proxy materials, to certain mutual fund customers whom we believe are members of the same family who share the same address. For certain types of accounts, we will not send multiple copies of these documents to you and members of your family who share the same address. Instead, we will send only a single copy of these documents. This will continue for as long as you are a shareholder, unless you notify us otherwise. If at any time you choose to receive individual copies of any documents, please call 1-800-544-8544. We will begin sending individual copies to you within 30 days of receiving your call.

Electronic copies of most financial reports and prospectuses are available at Fidelity's web site. To participate in Fidelity's electronic delivery program, call Fidelity or visit Fidelity's web site for more information.

You may initiate many transactions by telephone or electronically. Fidelity will not be responsible for any loss, cost, expense, or other liability resulting from unauthorized transactions if it follows reasonable security procedures designed to verify the identity of the investor. Fidelity will request personalized security codes or other information, and may also record calls. For transactions conducted through the Internet, Fidelity recommends the use of an Internet browser with 128-bit encryption. You should verify the accuracy of your confirmation statements upon receipt and notify Fidelity immediately of any discrepancies in your account activity. If you do not want the ability to sell and exchange by telephone, call Fidelity for instructions. Additional documentation may be required from corporations, associations, and certain fiduciaries.

You may be asked to provide additional information in order for Fidelity to verify your identity in accordance with requirements under anti-money laundering regulations. Accounts may be restricted and/or closed, and the monies withheld, pending verification of this information or as otherwise required under these and other federal regulations. In addition, each fund reserves the right to involuntarily redeem an account in the case of: (i) actual or suspected threatening conduct or actual or suspected fraudulent, illegal or suspicious activity by the account owner or any other individual associated with the account; or (ii) the failure of the account owner to provide information to the funds related to opening the accounts. Your shares will be sold at the NAV, minus any applicable shareholder fees, calculated on the day Fidelity closes your fund position.

Fidelity may charge a fee for certain services, such as providing historical account documents.

Dividends and Capital Gain Distributions

 

Each fund earns interest, dividends, and other income from its investments, and distributes this income (less expenses) to shareholders as dividends. Each fund also realizes capital gains from its investments, and distributes these gains (less any losses) to shareholders as capital gain distributions.

Each fund normally declares dividends and pays capital gain distributions per the tables below:

Fund Name	Dividends Paid
Fidelity Freedom® Index Income Fund	February, March, April, May, June, July, August, September, October, November, December
Fidelity Freedom® Index 2005 Fund	May, December
Fidelity Freedom® Index 2010 Fund	May, December
Fidelity Freedom® Index 2015 Fund	May, December
Fidelity Freedom® Index 2020 Fund	May, December
Fidelity Freedom® Index 2025 Fund	May, December
Fidelity Freedom® Index 2030 Fund	May, December
Fidelity Freedom® Index 2035 Fund	May, December
Fidelity Freedom® Index 2040 Fund	May, December
Fidelity Freedom® Index 2045 Fund	May, December
Fidelity Freedom® Index 2050 Fund	May, December
Fidelity Freedom® Index 2055 Fund	May, December
Fidelity Freedom® Index 2060 Fund	May, December
Fidelity Freedom® Index 2065 Fund	May, December

Fund Name	Capital Gains Paid
Fidelity Freedom® Index Income Fund	May, December
Fidelity Freedom® Index 2005 Fund	May, December
Fidelity Freedom® Index 2010 Fund	May, December
Fidelity Freedom® Index 2015 Fund	May, December
Fidelity Freedom® Index 2020 Fund	May, December
Fidelity Freedom® Index 2025 Fund	May, December
Fidelity Freedom® Index 2030 Fund	May, December
Fidelity Freedom® Index 2035 Fund	May, December
Fidelity Freedom® Index 2040 Fund	May, December
Fidelity Freedom® Index 2045 Fund	May, December
Fidelity Freedom® Index 2050 Fund	May, December
Fidelity Freedom® Index 2055 Fund	May, December
Fidelity Freedom® Index 2060 Fund	May, December
Fidelity Freedom® Index 2065 Fund	May, December

Distributions to Retirement Plan Participants 

For retirement plan accounts, any dividends and capital gain distributions paid to retirement plan participants will be automatically reinvested. 

Distribution Options for Non-Retirement Accounts 

When you open an account, specify how you want to receive your distributions. The following distribution options are available: 

• 1. Reinvestment Option. 

Any dividends and capital gain distributions will be automatically reinvested in additional shares. If you do not indicate a choice, you will be assigned this option.

• 2. Income-Earned Option. 

Any capital gain distributions will be automatically reinvested in additional shares. Any dividends will be paid in cash. 

• 3. Cash Option. 

Any dividends and capital gain distributions will be paid in cash. 

• 4. Directed Dividends® Option.

Any dividends will be automatically invested in shares of another identically registered Fidelity® fund. Any capital gain distributions will be automatically invested in shares of another identically registered Fidelity® fund, automatically reinvested in additional shares of the fund, or paid in cash. 

Not all distribution options may be available for every account and certain restrictions may apply. If the distribution option you prefer is not listed on your account application, or if you want to change your current distribution option, visit Fidelity's web site at www.fidelity.com or call 1-800-544-6666 for more information. 

If you elect to receive distributions paid in cash by check and the U.S. Postal Service does not deliver your checks, your distribution option may be converted to the Reinvestment Option. You will not receive interest on amounts represented by uncashed distribution checks.

If your dividend check(s) remains uncashed for six months, your check(s) may be invested in additional shares at the NAV next calculated on the day of the investment. 

Tax Consequences

 

As with any investment, your investment in a fund could have tax consequences for you (for non-retirement accounts).

Taxes on Distributions

If you hold your shares of a fund through an employer-sponsored retirement plan, distributions by the fund to tax-advantaged retirement plan accounts are not taxable currently. If you hold your shares of a fund in a Fidelity® brokerage or mutual fund account, distributions you receive from the fund are subject to federal income tax, and may also be subject to state or local taxes.

For federal tax purposes, certain distributions, including dividends and distributions of short-term capital gains, are taxable to you as ordinary income, while certain distributions, including distributions of long-term capital gains, are taxable to you generally as capital gains. A percentage of certain distributions of dividends may qualify for taxation at long-term capital gains rates (provided certain holding period requirements are met). 

If you buy shares when a fund has realized but not yet distributed income or capital gains, you will be "buying a dividend" by paying the full price for the shares and then receiving a portion of the price back in the form of a taxable distribution.

Any taxable distributions you receive from a fund will normally be taxable to you when you receive them, regardless of your distribution option.

Taxes on Transactions

Exchanges within a tax-advantaged retirement plan account will not result in a capital gain or loss for federal tax purposes. Please consult your tax advisor regarding the tax treatment of distributions from a tax-advantaged retirement plan account.

If you hold your shares of  a fund in a Fidelity® brokerage or mutual fund account, your redemptions, including exchanges, may result in a capital gain or loss for federal tax purposes. A capital gain or loss on your investment in a fund generally is the difference between the cost of your shares and the price you receive when you sell them.

Fund Services

Fund Management

 

Each fund is a mutual fund, an investment that pools shareholders' money and invests it toward a specified goal.

Adviser

FMR. The Adviser is each fund's manager. The address of the Adviser is 245 Summer Street, Boston, Massachusetts 02210.

As of December 31, 2022, the Adviser had approximately $3.1 trillion in discretionary assets under management, and approximately $3.9 trillion when combined with all of its affiliates' assets under management.

As the manager, the Adviser administers the asset allocation program for each fund and is responsible for handling the business affairs for each fund.

Portfolio Manager(s)

Andrew Dierdorf is Co-Portfolio Manager of each fund, which he has managed since 2009 (other than Fidelity Freedom® Index 2055 Fund, Fidelity Freedom® Index 2060 Fund, and Fidelity Freedom® Index 2065 Fund). He has managed Fidelity Freedom® Index 2055 Fund since 2011, Fidelity Freedom® Index 2060 Fund since 2014, and Fidelity Freedom® Index 2065 Fund since 2019. He also manages other funds. Since joining Fidelity Investments in 2004, Mr. Dierdorf has worked as a portfolio manager.

Finola McGuire Foley is Co-Portfolio Manager of each fund, which she has managed since 2018 (other than Fidelity Freedom® Index 2065 Fund). She has managed Fidelity Freedom® Index 2065 Fund since 2019. She also manages other funds. Since joining Fidelity Investments in 2003, Ms. Foley has worked as an assistant portfolio manager and portfolio manager.

Brett Sumsion is Co-Portfolio Manager of each fund, which he has managed since 2014 (other than Fidelity Freedom® Index 2065 Fund). He has managed Fidelity Freedom® Index 2065 Fund since 2019. He also manages other funds. Since joining Fidelity Investments in 2014, Mr. Sumsion has worked as a portfolio manager.

The SAI provides additional information about the compensation of, any other accounts managed by, and any fund shares held by the portfolio manager(s). 

From time to time a manager, analyst, or other Fidelity employee may express views regarding a particular company, security, industry, or market sector. The views expressed by any such person are the views of only that individual as of the time expressed and do not necessarily represent the views of Fidelity or any other person in the Fidelity organization. Any such views are subject to change at any time based upon market or other conditions and Fidelity disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any fund. 

Advisory Fee(s)

Each class of each fund pays an all-inclusive management fee to the Adviser at an annual rate based on the average daily net assets of the class.

A different all-inclusive management fee rate is applicable to each class of a fund. Such fee is subject to the expense contract arrangements discussed in greater detail under "Management Contracts - Management-Related Expenses" in the SAI. The difference between classes is the result of separate arrangements for class level services and/or waivers of certain expenses. It is not the result of any difference in advisory or custodial fees or other expenses related to the management of a fund's assets, which do not vary by class.

The all-inclusive management fee is calculated and paid to the Adviser each month. Out of each class's all-inclusive management fee, the Adviser or an affiliate pays all expenses of managing and operating the fund, with limited exceptions.

The net management fee, as a percentage of each class's average net assets, for the fiscal year ended March 31, 2023, for each fund, after taking into effect an expense contract for the class, is shown in the following table:

Fund	Institutional Premium Class	Premier Class
Fidelity Freedom® Index Income Fund	0.08%	0.06%
Fidelity Freedom® Index 2005 Fund	0.08%	0.06%
Fidelity Freedom® Index 2010 Fund	0.08%	0.06%
Fidelity Freedom® Index 2015 Fund	0.08%	0.06%
Fidelity Freedom® Index 2020 Fund	0.08%	0.06%
Fidelity Freedom® Index 2025 Fund	0.08%	0.06%
Fidelity Freedom® Index 2030 Fund	0.08%	0.06%
Fidelity Freedom® Index 2035 Fund	0.08%	0.06%
Fidelity Freedom® Index 2040 Fund	0.08%	0.06%
Fidelity Freedom® Index 2045 Fund	0.08%	0.06%
Fidelity Freedom® Index 2050 Fund	0.08%	0.06%
Fidelity Freedom® Index 2055 Fund	0.08%	0.06%
Fidelity Freedom® Index 2060 Fund	0.08%	0.06%
Fidelity Freedom® Index 2065 Fund	0.08%	0.06%

The basis for the Board of Trustees approving the management contract for each fund is available in each fund's semi-annual report for the fiscal period ended September 30, 2022.

From time to time, the Adviser or its affiliates may agree to reimburse or waive certain fund expenses while retaining the ability to be repaid if expenses fall below the specified limit prior to the end of the fiscal year.

Reimbursement or waiver arrangements can decrease expenses and boost performance.

Fund Distribution

 

Each fund is composed of multiple classes of shares. All classes of a fund have a common investment objective and investment portfolio.

FDC distributes Institutional Premium Class and Premier Class shares.

Intermediaries may receive from the Adviser, FDC, and/or their affiliates compensation for providing recordkeeping and administrative services, as well as other retirement plan expenses, and compensation for services intended to result in the sale of Institutional Premium Class and Premier Class shares.

This compensation may take the form of payments for additional distribution-related activities and/or shareholder services and payments for educational seminars and training, including seminars sponsored by Fidelity, or by an intermediary.

These payments are described in more detail in this section and in the SAI.

Distribution and Service Plan(s)

Each of Institutional Premium Class and Premier Class of each fund has adopted a Distribution and Service Plan pursuant to Rule 12b-1 under the Investment Company Act of 1940 (1940 Act) that recognizes that the Adviser may use its management fee revenues, as well as its past profits or its resources from any other source, to pay FDC for expenses incurred in connection with providing services intended to result in the sale of Institutional Premium Class and Premier Class shares and/or shareholder support services. The Adviser, directly or through FDC, may pay significant amounts to intermediaries that provide those services. Currently, the Board of Trustees of each fund has authorized such payments for Institutional Premium Class and Premier Class.

If payments made by the Adviser to FDC or to intermediaries under a Distribution and Service Plan were considered to be paid out of a class's assets on an ongoing basis, they might increase the cost of your investment and might cost you more than paying other types of sales charges.

From time to time, FDC may offer special promotional programs to investors who purchase shares of Fidelity® funds. For example, FDC may offer merchandise, discounts, vouchers, or similar items to investors who purchase shares of certain Fidelity® funds during certain periods. To determine if you qualify for any such programs, contact Fidelity or visit our web site at www.fidelity.com.

No dealer, sales representative, or any other person has been authorized to give any information or to make any representations, other than those contained in this prospectus and in the related SAI, in connection with the offer contained in this prospectus. If given or made, such other information or representations must not be relied upon as having been authorized by the funds or FDC. This prospectus and the related SAI do not constitute an offer by the funds or by FDC to sell shares of the funds to, or to buy shares of the funds from, any person to whom it is unlawful to make such offer.

 

Appendix

Financial Highlights

 

 

Financial Highlights are intended to help you understand the financial history of fund shares for the past 5 years (or, if shorter, the period of operations). Certain information reflects financial results for a single share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in shares (assuming reinvestment of all dividends and distributions). The annual information has been audited by Deloitte & Touche LLP, independent registered public accounting firm, whose report, along with fund financial statements, is included in the annual report. Annual reports are available for free upon request. 

 

 

Fidelity Freedom® Index Income Fund Institutional Premium Class

Years ended March 31,		2023		2022		2021		2020		2019
Selected Per-Share Data
Net asset value, beginning of period	$	12.13	$	12.44	$	11.59	$	11.96	$	11.84
Income from Investment Operations
Net investment income (loss) A,B		.34		.21		.14		.24		.26
Net realized and unrealized gain (loss)		(.82)		(.25)		.98		.25		.22
Total from investment operations		(.48)		(.04)		1.12		.49		.48
Distributions from net investment income		(.33)		(.19)		(.15)		(.24)		(.26)
Distributions from net realized gain		(.02)		(.08)		(.12)		(.62)		(.10)
Total distributions		(.35)		(.27)		(.27)		(.86)		(.36)
Net asset value, end of period	$	11.30	$	12.13	$	12.44	$	11.59	$	11.96
Total Return C		(3.88)%		(.44)%		9.68%		3.98%		4.16%
Ratios to Average Net Assets B,D,E
Expenses before reductions		.08%		.08%		.08%		.08%		.10%
Expenses net of fee waivers, if any		.08%		.08%		.08%		.08%		.06%
Expenses net of all reductions		.08%		.08%		.08%		.08%		.06%
Net investment income (loss)		3.01%		1.63%		1.17%		2.00%		2.21%
Supplemental Data
Net assets, end of period (000 omitted)	$	732,262	$	733,168	$	410,094	$	276,297	$	185,706
Portfolio turnover rate F		22%		38%		33%		67%		51%

 

ACalculated based on average shares outstanding during the period.

 

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

DFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

EExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

FAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

Fidelity Freedom® Index Income Fund Premier Class

Years ended March 31,		2023		2022		2021 A
Selected Per-Share Data
Net asset value, beginning of period	$	12.12	$	12.43	$	12.07
Income from Investment Operations
Net investment income (loss) B,C		.34		.21		.18
Net realized and unrealized gain (loss)		(.81)		(.25)		.38
Total from investment operations		(.47)		(.04)		.56
Distributions from net investment income		(.33)		(.19)		(.11)
Distributions from net realized gain		(.02)		(.08)		(.09)
Total distributions		(.35)		(.27)		(.20)
Net asset value, end of period	$	11.30	$	12.12	$	12.43
Total Return D,E		(3.78)%		(.40)%		4.59%
Ratios to Average Net Assets B,F,G
Expenses before reductions		.06%		.06%		.06% H
Expenses net of fee waivers, if any		.06%		.06%		.06% H
Expenses net of all reductions		.06%		.06%		.06% H
Net investment income (loss)		3.03%		1.65%		1.93% H
Supplemental Data
Net assets, end of period (000 omitted)	$	379,658	$	360,871	$	117,463
Portfolio turnover rate I		22%		38%		33%

 

AFor the period June 24, 2020 (commencement of sale of shares) through March 31, 2021.

 

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

CCalculated based on average shares outstanding during the period.

 

DTotal returns for periods of less than one year are not annualized.

 

ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

HAnnualized.

 

IAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

 

Fidelity Freedom® Index 2005 Fund Institutional Premium Class

Years ended March 31,		2023		2022		2021		2020		2019
Selected Per-Share Data
Net asset value, beginning of period	$	13.37	$	13.81	$	12.58	$	13.50	$	13.36
Income from Investment Operations
Net investment income (loss) A,B		.37		.21		.17		.27		.30
Net realized and unrealized gain (loss)		(.92)		(.23)		1.39		.17		.25
Total from investment operations		(.55)		(.02)		1.56		.44		.55
Distributions from net investment income		(.34)		(.21)		(.18)		(.27)		(.27)
Distributions from net realized gain		(.09)		(.21)		(.16)		(1.10)		(.14)
Total distributions		(.43)		(.42)		(.33) C		(1.36) C		(.41)
Net asset value, end of period	$	12.39	$	13.37	$	13.81	$	12.58	$	13.50
Total Return D		(4.03)%		(.25)%		12.46%		2.95%		4.31%
Ratios to Average Net Assets B,E,F
Expenses before reductions		.08%		.08%		.08%		.08%		.10%
Expenses net of fee waivers, if any		.08%		.08%		.08%		.08%		.06%
Expenses net of all reductions		.08%		.08%		.08%		.08%		.06%
Net investment income (loss)		2.99%		1.53%		1.25%		2.00%		2.22%
Supplemental Data
Net assets, end of period (000 omitted)	$	169,936	$	179,854	$	105,990	$	82,988	$	63,956
Portfolio turnover rate G		28%		44%		33%		83%		52%

 

ACalculated based on average shares outstanding during the period.

 

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

CTotal distributions per share do not sum due to rounding.

 

DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

GAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

Fidelity Freedom® Index 2005 Fund Premier Class

Years ended March 31,		2023		2022		2021 A
Selected Per-Share Data
Net asset value, beginning of period	$	13.37	$	13.80	$	13.24
Income from Investment Operations
Net investment income (loss) B,C		.37		.22		.03
Net realized and unrealized gain (loss)		(.93)		(.23)		.79
Total from investment operations		(.56)		(.01)		.82
Distributions from net investment income		(.35)		(.22)		(.14)
Distributions from net realized gain		(.09)		(.21)		(.12)
Total distributions		(.43) D		(.42) D		(.26)
Net asset value, end of period	$	12.38	$	13.37	$	13.80
Total Return E,F		(4.08)%		(.15)%		6.16%
Ratios to Average Net Assets C,G,H
Expenses before reductions		.06%		.06%		.06% I
Expenses net of fee waivers, if any		.06%		.06%		.06% I
Expenses net of all reductions		.06%		.06%		.06% I
Net investment income (loss)		3.01%		1.55%		.32% I
Supplemental Data
Net assets, end of period (000 omitted)	$	37,381	$	21,517	$	7,695
Portfolio turnover rate J		28%		44%		33%

 

AFor the period June 24, 2020 (commencement of sale of shares) through March 31, 2021.

 

BCalculated based on average shares outstanding during the period.

 

CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

DTotal distributions per share do not sum due to rounding.

 

ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

FTotal returns for periods of less than one year are not annualized.

 

GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

IAnnualized.

 

JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

 

Fidelity Freedom® Index 2010 Fund Institutional Premium Class

Years ended March 31,		2023		2022		2021		2020		2019
Selected Per-Share Data
Net asset value, beginning of period	$	13.61	$	14.07	$	12.33	$	14.17	$	14.25
Income from Investment Operations
Net investment income (loss) A,B		.35		.22		.18		.28		.31
Net realized and unrealized gain (loss)		(1.02)		(.15)		1.93		.04		.29
Total from investment operations		(.67)		.07		2.11		.32		.60
Distributions from net investment income		(.34)		(.23)		(.19)		(.28)		(.31)
Distributions from net realized gain		(.11)		(.30)		(.17)		(1.88)		(.37)
Total distributions		(.45)		(.53)		(.37) C		(2.16)		(.68)
Net asset value, end of period	$	12.49	$	13.61	$	14.07	$	12.33	$	14.17
Total Return D		(4.82)%		.35%		17.17%		1.37%		4.49%
Ratios to Average Net Assets B,E,F
Expenses before reductions		.08%		.08%		.08%		.08%		.10%
Expenses net of fee waivers, if any		.08%		.08%		.08%		.08%		.06%
Expenses net of all reductions		.08%		.08%		.08%		.08%		.06%
Net investment income (loss)		2.83%		1.56%		1.33%		1.98%		2.19%
Supplemental Data
Net assets, end of period (000 omitted)	$	507,025	$	567,760	$	389,414	$	322,946	$	309,781
Portfolio turnover rate G		26%		38%		27%		83%		45%

 

ACalculated based on average shares outstanding during the period.

 

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

CTotal distributions per share do not sum due to rounding.

 

DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.

 

FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

GAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

Fidelity Freedom® Index 2010 Fund Premier Class

Years ended March 31,		2023		2022		2021 A
Selected Per-Share Data
Net asset value, beginning of period	$	13.61	$	14.07	$	13.15
Income from Investment Operations
Net investment income (loss) B,C		.35		.22		.07
Net realized and unrealized gain (loss)		(1.02)		(.15)		1.12
Total from investment operations		(.67)		.07		1.19
Distributions from net investment income		(.34)		(.23)		(.16)
Distributions from net realized gain		(.11)		(.30)		(.11)
Total distributions		(.45)		(.53)		(.27)
Net asset value, end of period	$	12.49	$	13.61	$	14.07
Total Return D,E		(4.79)%		.37%		9.06%
Ratios to Average Net Assets C,F,G
Expenses before reductions		.06%		.06%		.06% H
Expenses net of fee waivers, if any		.06%		.06%		.06% H
Expenses net of all reductions		.06%		.06%		.06% H
Net investment income (loss)		2.85%		1.58%		.64% H
Supplemental Data
Net assets, end of period (000 omitted)	$	69,585	$	46,300	$	7,583
Portfolio turnover rate I		26%		38%		27%

 

AFor the period June 24, 2020 (commencement of sale of shares) through March 31, 2021.

 

BCalculated based on average shares outstanding during the period.

 

CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

ETotal returns for periods of less than one year are not annualized.

 

FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.

 

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

HAnnualized.

 

IAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

 

Fidelity Freedom® Index 2015 Fund Institutional Premium Class

Years ended March 31,		2023		2022		2021		2020		2019
Selected Per-Share Data
Net asset value, beginning of period	$	14.82	$	15.11	$	12.73	$	15.08	$	14.92
Income from Investment Operations
Net investment income (loss) A,B		.36		.26		.20		.30		.33
Net realized and unrealized gain (loss)		(1.20)		(.10)		2.58		(.12)		.31
Total from investment operations		(.84)		.16		2.78		.18		.64
Distributions from net investment income		(.36)		(.24)		(.21)		(.29)		(.32)
Distributions from net realized gain		(.05)		(.21)		(.19)		(2.23)		(.17)
Total distributions		(.41)		(.45)		(.40)		(2.53) C		(.48) C
Net asset value, end of period	$	13.57	$	14.82	$	15.11	$	12.73	$	15.08
Total Return D		(5.58)%		.96%		21.98%		(.15)%		4.55%
Ratios to Average Net Assets B,E,F
Expenses before reductions		.08%		.08%		.08%		.08%		.10%
Expenses net of fee waivers, if any		.08%		.08%		.08%		.08%		.06%
Expenses net of all reductions		.08%		.08%		.08%		.08%		.06%
Net investment income (loss)		2.70%		1.69%		1.36%		1.97%		2.18%
Supplemental Data
Net assets, end of period (000 omitted)	$	1,161,199	$	1,343,537	$	789,557	$	677,766	$	597,338
Portfolio turnover rate G		22%		33%		30%		87%		36%

 

ACalculated based on average shares outstanding during the period.

 

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

CTotal distributions per share do not sum due to rounding.

 

DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.

 

FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

GAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

Fidelity Freedom® Index 2015 Fund Premier Class

Years ended March 31,		2023		2022		2021 A
Selected Per-Share Data
Net asset value, beginning of period	$	14.81	$	15.11	$	13.77
Income from Investment Operations
Net investment income (loss) B,C		.37		.26		.27
Net realized and unrealized gain (loss)		(1.21)		(.10)		1.38
Total from investment operations		(.84)		.16		1.65
Distributions from net investment income		(.36)		(.25)		(.18)
Distributions from net realized gain		(.05)		(.21)		(.13)
Total distributions		(.41)		(.46)		(.31)
Net asset value, end of period	$	13.56	$	14.81	$	15.11
Total Return D,E		(5.57)%		.92%		11.98%
Ratios to Average Net Assets C,F,G
Expenses before reductions		.06%		.06%		.06% H
Expenses net of fee waivers, if any		.06%		.06%		.06% H
Expenses net of all reductions		.06%		.06%		.06% H
Net investment income (loss)		2.72%		1.71%		2.36% H
Supplemental Data
Net assets, end of period (000 omitted)	$	518,822	$	515,045	$	161,189
Portfolio turnover rate I		22%		33%		30%

 

AFor the period June 24, 2020 (commencement of sale of shares) through March 31, 2021.

 

BCalculated based on average shares outstanding during the period.

 

CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

DTotal returns for periods of less than one year are not annualized.

 

ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.

 

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

HAnnualized.

 

IAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

 

Fidelity Freedom® Index 2020 Fund Institutional Premium Class

Years ended March 31,		2023		2022		2021		2020		2019
Selected Per-Share Data
Net asset value, beginning of period	$	16.32	$	16.54	$	13.41	$	16.01	$	15.69
Income from Investment Operations
Net investment income (loss) A,B		.38		.29		.22		.31		.34
Net realized and unrealized gain (loss)		(1.44)		(.03)		3.33		(.31)		.36
Total from investment operations		(1.06)		.26		3.55		- C		.70
Distributions from net investment income		(.38)		(.28)		(.23)		(.31)		(.33)
Distributions from net realized gain		(.05)		(.20)		(.19)		(2.30)		(.05)
Total distributions		(.42) D		(.48)		(.42)		(2.60) D		(.38)
Net asset value, end of period	$	14.84	$	16.32	$	16.54	$	13.41	$	16.01
Total Return E		(6.37)%		1.44%		26.66%		(1.57)%		4.65%
Ratios to Average Net Assets B,F,G
Expenses before reductions		.08%		.08%		.08%		.08%		.10%
Expenses net of fee waivers, if any		.08%		.08%		.08%		.08%		.06%
Expenses net of all reductions		.08%		.08%		.08%		.08%		.06%
Net investment income (loss)		2.58%		1.70%		1.44%		1.96%		2.18%
Supplemental Data
Net assets, end of period (000 omitted)	$	4,340,679	$	5,076,226	$	3,331,247	$	2,713,138	$	2,528,449
Portfolio turnover rate H		21%		35%		28%		87%		26%

 

ACalculated based on average shares outstanding during the period.

 

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

CAmount represents less than $.005 per share.

 

DTotal distributions per share do not sum due to rounding.

 

ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

HAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

Fidelity Freedom® Index 2020 Fund Premier Class

Years ended March 31,		2023		2022		2021 A
Selected Per-Share Data
Net asset value, beginning of period	$	16.32	$	16.54	$	14.69
Income from Investment Operations
Net investment income (loss) B,C		.38		.29		.30
Net realized and unrealized gain (loss)		(1.43)		(.03)		1.88
Total from investment operations		(1.05)		.26		2.18
Distributions from net investment income		(.38)		(.28)		(.20)
Distributions from net realized gain		(.05)		(.20)		(.12)
Total distributions		(.43)		(.48)		(.33) D
Net asset value, end of period	$	14.84	$	16.32	$	16.54
Total Return E,F		(6.34)%		1.46%		14.83%
Ratios to Average Net Assets C,G,H
Expenses before reductions		.06%		.06%		.06% I
Expenses net of fee waivers, if any		.06%		.06%		.06% I
Expenses net of all reductions		.06%		.06%		.06% I
Net investment income (loss)		2.60%		1.72%		2.40% I
Supplemental Data
Net assets, end of period (000 omitted)	$	1,552,553	$	1,551,607	$	546,553
Portfolio turnover rate J		21%		35%		28%

 

AFor the period June 24, 2020 (commencement of sale of shares) through March 31, 2021.

 

BCalculated based on average shares outstanding during the period.

 

CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

DTotal distributions per share do not sum due to rounding.

 

ETotal returns for periods of less than one year are not annualized.

 

FTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

IAnnualized.

 

JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

 

Fidelity Freedom® Index 2025 Fund Institutional Premium Class

Years ended March 31,		2023		2022		2021		2020		2019
Selected Per-Share Data
Net asset value, beginning of period	$	18.48	$	18.53	$	14.57	$	17.05	$	16.67
Income from Investment Operations
Net investment income (loss) A,B		.41		.34		.26		.34		.37
Net realized and unrealized gain (loss)		(1.65)		.04 C		4.14		(.54)		.38
Total from investment operations		(1.24)		.38		4.40		(.20)		.75
Distributions from net investment income		(.40)		(.32)		(.26)		(.32)		(.34)
Distributions from net realized gain		(.03)		(.12)		(.18)		(1.96)		(.03)
Total distributions		(.43)		(.43) D		(.44)		(2.28)		(.37)
Net asset value, end of period	$	16.81	$	18.48	$	18.53	$	14.57	$	17.05
Total Return E		(6.61)%		1.96%		30.37%		(2.71)%		4.70%
Ratios to Average Net Assets B,F,G
Expenses before reductions		.08%		.08%		.08%		.08%		.10%
Expenses net of fee waivers, if any		.08%		.08%		.08%		.08%		.05%
Expenses net of all reductions		.08%		.08%		.08%		.08%		.05%
Net investment income (loss)		2.47%		1.75%		1.50%		1.97%		2.19%
Supplemental Data
Net assets, end of period (000 omitted)	$	8,118,470	$	8,419,298	$	4,504,542	$	2,966,352	$	2,380,799
Portfolio turnover rate H		18%		24%		26%		82%		19%

 

ACalculated based on average shares outstanding during the period.

 

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

CThe amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.

 

DTotal distributions per share do not sum due to rounding.

 

ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

HAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

Fidelity Freedom® Index 2025 Fund Premier Class

Years ended March 31,		2023		2022		2021 A
Selected Per-Share Data
Net asset value, beginning of period	$	18.47	$	18.52	$	16.14
Income from Investment Operations
Net investment income (loss) B,C		.41		.34		.35
Net realized and unrealized gain (loss)		(1.65)		.05 D		2.38
Total from investment operations		(1.24)		.39		2.73
Distributions from net investment income		(.40)		(.32)		(.23)
Distributions from net realized gain		(.03)		(.12)		(.12)
Total distributions		(.43)		(.44)		(.35)
Net asset value, end of period	$	16.80	$	18.47	$	18.52
Total Return E,F		(6.59)%		1.98%		16.94%
Ratios to Average Net Assets C,G,H
Expenses before reductions		.06%		.06%		.06% I
Expenses net of fee waivers, if any		.06%		.06%		.06% I
Expenses net of all reductions		.06%		.06%		.06% I
Net investment income (loss)		2.49%		1.77%		2.53% I
Supplemental Data
Net assets, end of period (000 omitted)	$	2,953,795	$	2,610,862	$	912,597
Portfolio turnover rate J		18%		24%		26%

 

AFor the period June 24, 2020 (commencement of sale of shares) through March 31, 2021.

 

BCalculated based on average shares outstanding during the period.

 

CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

DThe amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.

 

ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

FTotal returns for periods of less than one year are not annualized.

 

GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

IAnnualized.

 

JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

 

Fidelity Freedom® Index 2030 Fund Institutional Premium Class

Years ended March 31,		2023		2022		2021		2020		2019
Selected Per-Share Data
Net asset value, beginning of period	$	19.51	$	19.45	$	14.73	$	18.00	$	17.57
Income from Investment Operations
Net investment income (loss) A,B		.40		.36		.28		.35		.39
Net realized and unrealized gain (loss)		(1.71)		.16 C		4.90		(.75)		.42
Total from investment operations		(1.31)		.52		5.18		(.40)		.81
Distributions from net investment income		(.38)		(.34)		(.27)		(.34)		(.37)
Distributions from net realized gain		(.03)		(.12)		(.19)		(2.53)		(.01)
Total distributions		(.41)		(.46)		(.46)		(2.87)		(.38)
Net asset value, end of period	$	17.79	$	19.51	$	19.45	$	14.73	$	18.00
Total Return D		(6.60)%		2.57%		35.41%		(4.40)%		4.82%
Ratios to Average Net Assets B,E,F
Expenses before reductions		.08%		.08%		.08%		.08%		.10%
Expenses net of fee waivers, if any		.08%		.08%		.08%		.08%		.05%
Expenses net of all reductions		.08%		.08%		.08%		.08%		.05%
Net investment income (loss)		2.28%		1.78%		1.56%		1.96%		2.20%
Supplemental Data
Net assets, end of period (000 omitted)	$	11,271,364	$	10,927,825	$	5,916,521	$	3,884,151	$	3,269,588
Portfolio turnover rate G		15%		20%		26%		85%		14%

 

ACalculated based on average shares outstanding during the period.

 

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

CThe amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.

 

DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

GAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

Fidelity Freedom® Index 2030 Fund Premier Class

Years ended March 31,		2023		2022		2021 A
Selected Per-Share Data
Net asset value, beginning of period	$	19.50	$	19.45	$	16.56
Income from Investment Operations
Net investment income (loss) B,C		.40		.36		.39
Net realized and unrealized gain (loss)		(1.70)		.16 D		2.88
Total from investment operations		(1.30)		.52		3.27
Distributions from net investment income		(.39)		(.34)		(.26)
Distributions from net realized gain		(.03)		(.12)		(.12)
Total distributions		(.42)		(.47) E		(.38)
Net asset value, end of period	$	17.78	$	19.50	$	19.45
Total Return F,G		(6.59)%		2.54%		19.78%
Ratios to Average Net Assets C,H,I
Expenses before reductions		.06%		.06%		.06% J
Expenses net of fee waivers, if any		.06%		.06%		.06% J
Expenses net of all reductions		.06%		.06%		.06% J
Net investment income (loss)		2.30%		1.80%		2.66% J
Supplemental Data
Net assets, end of period (000 omitted)	$	3,697,423	$	3,153,635	$	1,118,562
Portfolio turnover rate K		15%		20%		26%

 

AFor the period June 24, 2020 (commencement of sale of shares) through March 31, 2021.

 

BCalculated based on average shares outstanding during the period.

 

CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

DThe amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.

 

ETotal distributions per share do not sum due to rounding.

 

FTotal returns for periods of less than one year are not annualized.

 

GTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

HFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

JAnnualized.

 

KAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

 

Fidelity Freedom® Index 2035 Fund Institutional Premium Class

Years ended March 31,		2023		2022		2021		2020		2019
Selected Per-Share Data
Net asset value, beginning of period	$	21.83	$	21.46	$	15.21	$	19.08	$	18.64
Income from Investment Operations
Net investment income (loss) A,B		.39		.40		.31		.37		.40
Net realized and unrealized gain (loss)		(1.92)		.44		6.39		(1.26)		.43
Total from investment operations		(1.53)		.84		6.70		(.89)		.83
Distributions from net investment income		(.37)		(.37)		(.30)		(.34)		(.38)
Distributions from net realized gain		(.02)		(.11)		(.16)		(2.64)		(.01)
Total distributions		(.39)		(.47) C		(.45) C		(2.98)		(.39)
Net asset value, end of period	$	19.91	$	21.83	$	21.46	$	15.21	$	19.08
Total Return D		(6.91)%		3.82%		44.31%		(7.33)%		4.69%
Ratios to Average Net Assets B,E,F
Expenses before reductions		.08%		.08%		.08%		.08%		.10%
Expenses net of fee waivers, if any		.08%		.08%		.08%		.08%		.05%
Expenses net of all reductions		.08%		.08%		.08%		.08%		.05%
Net investment income (loss)		2.01%		1.75%		1.60%		1.92%		2.14%
Supplemental Data
Net assets, end of period (000 omitted)	$	10,184,661	$	9,501,029	$	4,357,280	$	2,512,748	$	2,015,039
Portfolio turnover rate G		13%		15%		24%		80%		10%

 

ACalculated based on average shares outstanding during the period.

 

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

CTotal distributions per share do not sum due to rounding.

 

DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

GAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

Fidelity Freedom® Index 2035 Fund Premier Class

Years ended March 31,		2023		2022		2021 A
Selected Per-Share Data
Net asset value, beginning of period	$	21.82	$	21.46	$	17.48
Income from Investment Operations
Net investment income (loss) B,C		.39		.40		.45
Net realized and unrealized gain (loss)		(1.91)		.44		3.92
Total from investment operations		(1.52)		.84		4.37
Distributions from net investment income		(.38)		(.37)		(.29)
Distributions from net realized gain		(.02)		(.11)		(.10)
Total distributions		(.39) D		(.48)		(.39)
Net asset value, end of period	$	19.91	$	21.82	$	21.46
Total Return E,F		(6.85)%		3.80%		25.06%
Ratios to Average Net Assets C,G,H
Expenses before reductions		.06%		.06%		.06% I
Expenses net of fee waivers, if any		.06%		.06%		.06% I
Expenses net of all reductions		.06%		.06%		.06% I
Net investment income (loss)		2.03%		1.77%		2.86% I
Supplemental Data
Net assets, end of period (000 omitted)	$	3,806,916	$	3,083,204	$	1,163,973
Portfolio turnover rate J		13%		15%		24%

 

AFor the period June 24, 2020 (commencement of sale of shares) through March 31, 2021.

 

BCalculated based on average shares outstanding during the period.

 

CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

DTotal distributions per share do not sum due to rounding.

 

ETotal returns for periods of less than one year are not annualized.

 

FTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

IAnnualized.

 

JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

 

Fidelity Freedom® Index 2040 Fund Institutional Premium Class

Years ended March 31,		2023		2022		2021		2020		2019
Selected Per-Share Data
Net asset value, beginning of period	$	22.28	$	21.68	$	14.77	$	19.19	$	18.77
Income from Investment Operations
Net investment income (loss) A,B		.39		.41		.31		.36		.40
Net realized and unrealized gain (loss)		(2.01)		.68		7.02		(1.43)		.42
Total from investment operations		(1.62)		1.09		7.33		(1.07)		.82
Distributions from net investment income		(.38)		(.38)		(.30)		(.34)		(.39)
Distributions from net realized gain		(.02)		(.11)		(.12)		(3.00)		(.01)
Total distributions		(.40)		(.49)		(.42)		(3.35) C		(.40)
Net asset value, end of period	$	20.26	$	22.28	$	21.68	$	14.77	$	19.19
Total Return D		(7.15)%		4.92%		49.89%		(8.89)%		4.61%
Ratios to Average Net Assets B,E,F
Expenses before reductions		.08%		.08%		.08%		.08%		.10%
Expenses net of fee waivers, if any		.08%		.08%		.08%		.08%		.05%
Expenses net of all reductions		.08%		.08%		.08%		.08%		.05%
Net investment income (loss)		2.00%		1.78%		1.60%		1.86%		2.12%
Supplemental Data
Net assets, end of period (000 omitted)	$	10,285,592	$	9,622,454	$	4,910,687	$	2,861,535	$	2,404,340
Portfolio turnover rate G		12%		13%		20%		78%		10%

 

ACalculated based on average shares outstanding during the period.

 

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

CTotal distributions per share do not sum due to rounding.

 

DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

GAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

Fidelity Freedom® Index 2040 Fund Premier Class

Years ended March 31,		2023		2022		2021 A
Selected Per-Share Data
Net asset value, beginning of period	$	22.27	$	21.67	$	17.16
Income from Investment Operations
Net investment income (loss) B,C		.40		.41		.47
Net realized and unrealized gain (loss)		(2.01)		.69		4.40
Total from investment operations		(1.61)		1.10		4.87
Distributions from net investment income		(.39)		(.39)		(.30)
Distributions from net realized gain		(.02)		(.11)		(.07)
Total distributions		(.41)		(.50)		(.36) D
Net asset value, end of period	$	20.25	$	22.27	$	21.67
Total Return E,F		(7.13)%		4.94%		28.49%
Ratios to Average Net Assets C,G,H
Expenses before reductions		.06%		.06%		.06% I
Expenses net of fee waivers, if any		.06%		.06%		.06% I
Expenses net of all reductions		.06%		.06%		.06% I
Net investment income (loss)		2.02%		1.80%		2.95% I
Supplemental Data
Net assets, end of period (000 omitted)	$	3,774,956	$	3,048,126	$	1,197,248
Portfolio turnover rate J		12%		13%		20%

 

AFor the period June 24, 2020 (commencement of sale of shares) through March 31, 2021.

 

BCalculated based on average shares outstanding during the period.

 

CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

DTotal distributions per share do not sum due to rounding.

 

ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

FTotal returns for periods of less than one year are not annualized.

 

GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

IAnnualized.

 

JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

 

Fidelity Freedom® Index 2045 Fund Institutional Premium Class

Years ended March 31,		2023		2022		2021		2020		2019
Selected Per-Share Data
Net asset value, beginning of period	$	23.14	$	22.50	$	15.32	$	19.33	$	18.92
Income from Investment Operations
Net investment income (loss) A,B		.41		.43		.31		.37		.40
Net realized and unrealized gain (loss)		(2.08)		.71		7.30		(1.55)		.42
Total from investment operations		(1.67)		1.14		7.61		(1.18)		.82
Distributions from net investment income		(.40)		(.40)		(.31)		(.34)		(.39)
Distributions from net realized gain		(.01)		(.10)		(.12)		(2.49)		(.02)
Total distributions		(.41)		(.50)		(.43)		(2.83)		(.41)
Net asset value, end of period	$	21.06	$	23.14	$	22.50	$	15.32	$	19.33
Total Return C		(7.10)%		4.95%		49.89%		(8.88)%		4.58%
Ratios to Average Net Assets B,D,E
Expenses before reductions		.08%		.08%		.08%		.08%		.10%
Expenses net of fee waivers, if any		.08%		.08%		.08%		.08%		.05%
Expenses net of all reductions		.08%		.08%		.08%		.08%		.05%
Net investment income (loss)		2.01%		1.79%		1.59%		1.89%		2.11%
Supplemental Data
Net assets, end of period (000 omitted)	$	8,572,583	$	7,627,068	$	3,397,662	$	1,890,160	$	1,446,055
Portfolio turnover rate F		11%		12%		20%		77%		10%

 

ACalculated based on average shares outstanding during the period.

 

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

DFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

EExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

FAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

Fidelity Freedom® Index 2045 Fund Premier Class

Years ended March 31,		2023		2022		2021 A
Selected Per-Share Data
Net asset value, beginning of period	$	23.13	$	22.50	$	17.81
Income from Investment Operations
Net investment income (loss) B,C		.41		.43		.49
Net realized and unrealized gain (loss)		(2.07)		.70		4.57
Total from investment operations		(1.66)		1.13		5.06
Distributions from net investment income		(.40)		(.40)		(.31)
Distributions from net realized gain		(.01)		(.10)		(.07)
Total distributions		(.41)		(.50)		(.37) D
Net asset value, end of period	$	21.06	$	23.13	$	22.50
Total Return E,F		(7.05)%		4.93%		28.52%
Ratios to Average Net Assets C,G,H
Expenses before reductions		.06%		.06%		.06% I
Expenses net of fee waivers, if any		.06%		.06%		.06% I
Expenses net of all reductions		.06%		.06%		.06% I
Net investment income (loss)		2.03%		1.81%		2.96% I
Supplemental Data
Net assets, end of period (000 omitted)	$	3,367,586	$	2,647,519	$	1,128,413
Portfolio turnover rate J		11%		12%		20%

 

AFor the period June 24, 2020 (commencement of sale of shares) through March 31, 2021.

 

BCalculated based on average shares outstanding during the period.

 

CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

DTotal distributions per share do not sum due to rounding.

 

ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

FTotal returns for periods of less than one year are not annualized.

 

GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

IAnnualized.

 

JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

 

Fidelity Freedom® Index 2050 Fund Institutional Premium Class

Years ended March 31,		2023		2022		2021		2020		2019
Selected Per-Share Data
Net asset value, beginning of period	$	23.17	$	22.54	$	15.34	$	19.41	$	19.00
Income from Investment Operations
Net investment income (loss) A,B		.41		.42		.31		.37		.40
Net realized and unrealized gain (loss)		(2.08)		.72		7.32		(1.55)		.42
Total from investment operations		(1.67)		1.14		7.63		(1.18)		.82
Distributions from net investment income		(.40)		(.40)		(.31)		(.34)		(.39)
Distributions from net realized gain		(.01)		(.11)		(.12)		(2.54)		(.02)
Total distributions		(.41)		(.51)		(.43)		(2.89) C		(.41)
Net asset value, end of period	$	21.09	$	23.17	$	22.54	$	15.34	$	19.41
Total Return D		(7.11)%		4.93%		49.96%		(8.91)%		4.59%
Ratios to Average Net Assets B,E,F
Expenses before reductions		.08%		.08%		.08%		.08%		.10%
Expenses net of fee waivers, if any		.08%		.08%		.08%		.08%		.05%
Expenses net of all reductions		.08%		.08%		.08%		.08%		.05%
Net investment income (loss)		2.01%		1.78%		1.59%		1.89%		2.11%
Supplemental Data
Net assets, end of period (000 omitted)	$	8,045,136	$	6,949,488	$	3,119,255	$	1,815,237	$	1,376,687
Portfolio turnover rate G		11%		12%		20%		77%		12%

 

ACalculated based on average shares outstanding during the period.

 

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

CTotal distributions per share do not sum due to rounding.

 

DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

GAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

Fidelity Freedom® Index 2050 Fund Premier Class

Years ended March 31,		2023		2022		2021 A
Selected Per-Share Data
Net asset value, beginning of period	$	23.17	$	22.54	$	17.84
Income from Investment Operations
Net investment income (loss) B,C		.42		.43		.50
Net realized and unrealized gain (loss)		(2.09)		.71		4.57
Total from investment operations		(1.67)		1.14		5.07
Distributions from net investment income		(.40)		(.40)		(.31)
Distributions from net realized gain		(.01)		(.11)		(.07)
Total distributions		(.41)		(.51)		(.37) D
Net asset value, end of period	$	21.09	$	23.17	$	22.54
Total Return E,F		(7.09)%		4.95%		28.53%
Ratios to Average Net Assets C,G,H
Expenses before reductions		.06%		.06%		.06% I
Expenses net of fee waivers, if any		.06%		.06%		.06% I
Expenses net of all reductions		.06%		.06%		.06% I
Net investment income (loss)		2.03%		1.80%		3.03% I
Supplemental Data
Net assets, end of period (000 omitted)	$	3,072,883	$	2,292,324	$	1,044,525
Portfolio turnover rate J		11%		12%		20%

 

AFor the period June 24, 2020 (commencement of sale of shares) through March 31, 2021.

 

BCalculated based on average shares outstanding during the period.

 

CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

DTotal distributions per share do not sum due to rounding.

 

ETotal returns for periods of less than one year are not annualized.

 

FTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

IAnnualized.

 

JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

 

Fidelity Freedom® Index 2055 Fund Institutional Premium Class

Years ended March 31,		2023		2022		2021		2020		2019
Selected Per-Share Data
Net asset value, beginning of period	$	19.06	$	18.53	$	12.61	$	15.34	$	15.02
Income from Investment Operations
Net investment income (loss) A,B		.34		.35		.27		.29		.32
Net realized and unrealized gain (loss)		(1.71)		.58		5.99		(1.33)		.34
Total from investment operations		(1.37)		.93		6.26		(1.04)		.66
Distributions from net investment income		(.32)		(.33)		(.25)		(.27)		(.30)
Distributions from net realized gain		(.01)		(.08)		(.09)		(1.42)		(.03)
Total distributions		(.33)		(.40) C		(.34)		(1.69)		(.34) C
Net asset value, end of period	$	17.36	$	19.06	$	18.53	$	12.61	$	15.34
Total Return D		(7.07)%		4.92%		49.87%		(8.85)%		4.61%
Ratios to Average Net Assets B,E,F
Expenses before reductions		.08%		.08%		.08%		.08%		.10%
Expenses net of fee waivers, if any		.08%		.08%		.08%		.08%		.05%
Expenses net of all reductions		.08%		.08%		.08%		.08%		.05%
Net investment income (loss)		2.03%		1.79%		1.63%		1.87%		2.12%
Supplemental Data
Net assets, end of period (000 omitted)	$	5,604,999	$	4,444,575	$	1,659,777	$	713,027	$	516,194
Portfolio turnover rate G		11%		12%		21%		74%		11%

 

ACalculated based on average shares outstanding during the period.

 

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

CTotal distributions per share do not sum due to rounding.

 

DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

GAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

Fidelity Freedom® Index 2055 Fund Premier Class

Years ended March 31,		2023		2022		2021 A
Selected Per-Share Data
Net asset value, beginning of period	$	19.06	$	18.52	$	14.66
Income from Investment Operations
Net investment income (loss) B,C		.34		.35		.39
Net realized and unrealized gain (loss)		(1.71)		.60		3.77
Total from investment operations		(1.37)		.95		4.16
Distributions from net investment income		(.32)		(.33)		(.25)
Distributions from net realized gain		(.01)		(.08)		(.05)
Total distributions		(.34) D		(.41)		(.30)
Net asset value, end of period	$	17.35	$	19.06	$	18.52
Total Return E,F		(7.10)%		4.99%		28.47%
Ratios to Average Net Assets C,G,H
Expenses before reductions		.06%		.06%		.06% I
Expenses net of fee waivers, if any		.06%		.06%		.06% I
Expenses net of all reductions		.06%		.06%		.06% I
Net investment income (loss)		2.05%		1.81%		2.84% I
Supplemental Data
Net assets, end of period (000 omitted)	$	1,853,562	$	1,183,840	$	463,953
Portfolio turnover rate J		11%		12%		21%

 

AFor the period June 24, 2020 (commencement of sale of shares) through March 31, 2021.

 

BCalculated based on average shares outstanding during the period.

 

CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

DTotal distributions per share do not sum due to rounding.

 

ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

FTotal returns for periods of less than one year are not annualized.

 

GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

IAnnualized.

 

JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

 

Fidelity Freedom® Index 2060 Fund Institutional Premium Class

Years ended March 31,		2023		2022		2021		2020		2019
Selected Per-Share Data
Net asset value, beginning of period	$	16.14	$	15.68	$	10.66	$	12.50	$	12.23
Income from Investment Operations
Net investment income (loss) A,B		.29		.30		.23		.24		.27
Net realized and unrealized gain (loss)		(1.45)		.50		5.07		(1.19)		.27
Total from investment operations		(1.16)		.80		5.30		(.95)		.54
Distributions from net investment income		(.27)		(.27)		(.21)		(.21)		(.24)
Distributions from net realized gain		(.01)		(.06)		(.07)		(.68)		(.03)
Total distributions		(.28)		(.34) C		(.28)		(.89)		(.27)
Net asset value, end of period	$	14.70	$	16.14	$	15.68	$	10.66	$	12.50
Total Return D		(7.08)%		4.96%		49.92%		(8.93)%		4.66%
Ratios to Average Net Assets B,E,F
Expenses before reductions		.08%		.08%		.08%		.08%		.10%
Expenses net of fee waivers, if any		.08%		.08%		.08%		.08%		.05%
Expenses net of all reductions		.08%		.08%		.08%		.08%		.05%
Net investment income (loss)		2.04%		1.80%		1.62%		1.90%		2.19%
Supplemental Data
Net assets, end of period (000 omitted)	$	2,743,603	$	1,938,419	$	633,265	$	241,263	$	138,092
Portfolio turnover rate G		12%		12%		24%		67%		15%

 

ACalculated based on average shares outstanding during the period.

 

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

CTotal distributions per share do not sum due to rounding.

 

DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

GAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

Fidelity Freedom® Index 2060 Fund Premier Class

Years ended March 31,		2023		2022		2021 A
Selected Per-Share Data
Net asset value, beginning of period	$	16.14	$	15.69	$	12.41
Income from Investment Operations
Net investment income (loss) B,C		.29		.30		.32
Net realized and unrealized gain (loss)		(1.45)		.49		3.21
Total from investment operations		(1.16)		.79		3.53
Distributions from net investment income		(.27)		(.27)		(.21)
Distributions from net realized gain		(.01)		(.06)		(.04)
Total distributions		(.28)		(.34) D		(.25)
Net asset value, end of period	$	14.70	$	16.14	$	15.69
Total Return E,F		(7.06)%		4.91%		28.52%
Ratios to Average Net Assets C,G,H
Expenses before reductions		.06%		.06%		.06% I
Expenses net of fee waivers, if any		.06%		.06%		.06% I
Expenses net of all reductions		.06%		.06%		.06% I
Net investment income (loss)		2.06%		1.82%		2.82% I
Supplemental Data
Net assets, end of period (000 omitted)	$	868,796	$	506,652	$	183,530
Portfolio turnover rate J		12%		12%		24%

 

AFor the period June 24, 2020 (commencement of sale of shares) through March 31, 2021.

 

BCalculated based on average shares outstanding during the period.

 

CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

DTotal distributions per share do not sum due to rounding.

 

ETotal returns for periods of less than one year are not annualized.

 

FTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

IAnnualized.

 

JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

 

Fidelity Freedom® Index 2065 Fund Institutional Premium Class

Years ended March 31,		2023		2022		2021		2020 A
Selected Per-Share Data
Net asset value, beginning of period	$	13.04	$	12.65	$	8.60	$	10.00
Income from Investment Operations
Net investment income (loss) B,C		.24		.26		.12		.25
Net realized and unrealized gain (loss)		(1.18)		.38 D		4.15		(1.43)
Total from investment operations		(.94)		.64		4.27		(1.18)
Distributions from net investment income		(.22)		(.21)		(.15)		(.19)
Distributions from net realized gain		(.01)		(.04)		(.07)		(.02)
Total distributions		(.22) E		(.25)		(.22)		(.22) E
Net asset value, end of period	$	11.88	$	13.04	$	12.65	$	8.60
Total Return F,G		(7.08)%		4.95%		49.92%		(12.23)%
Ratios to Average Net Assets C,H,I
Expenses before reductions		.08%		.08%		.08%		.08% J
Expenses net of fee waivers, if any		.08%		.08%		.08%		.08% J
Expenses net of all reductions		.08%		.08%		.08%		.08% J
Net investment income (loss)		2.08%		1.92%		1.08%		3.29% J
Supplemental Data
Net assets, end of period (000 omitted)	$	581,491	$	298,536	$	66,985	$	9,896
Portfolio turnover rate K		12%		11%		33%		103% J

 

AFor the period June 28, 2019 (commencement of operations) through March 31, 2020.

 

BCalculated based on average shares outstanding during the period.

 

CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

DThe amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.

 

ETotal distributions per share do not sum due to rounding.

 

FTotal returns for periods of less than one year are not annualized.

 

GTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

HFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

JAnnualized.

 

KAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

Fidelity Freedom® Index 2065 Fund Premier Class

Years ended March 31,		2023		2022		2021 A
Selected Per-Share Data
Net asset value, beginning of period	$	13.04	$	12.65	$	9.99
Income from Investment Operations
Net investment income (loss) B,C		.24		.26		.59
Net realized and unrealized gain (loss)		(1.17)		.38 D		2.25
Total from investment operations		(.93)		.64		2.84
Distributions from net investment income		(.22)		(.21)		(.15)
Distributions from net realized gain		(.01)		(.04)		(.03)
Total distributions		(.23)		(.25)		(.18)
Net asset value, end of period	$	11.88	$	13.04	$	12.65
Total Return E,F		(7.06)%		4.96%		28.47%
Ratios to Average Net Assets C,G,H
Expenses before reductions		.06%		.06%		.06% I
Expenses net of fee waivers, if any		.06%		.06%		.06% I
Expenses net of all reductions		.06%		.06%		.06% I
Net investment income (loss)		2.10%		1.94%		6.34% I
Supplemental Data
Net assets, end of period (000 omitted)	$	222,672	$	105,651	$	29,849
Portfolio turnover rate J		12%		11%		33%

 

AFor the period June 24, 2020 (commencement of sale of shares) through March 31, 2021.

 

BCalculated based on average shares outstanding during the period.

 

CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

 

DThe amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.

 

ETotal returns for periods of less than one year are not annualized.

 

FTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 

GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

 

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

 

IAnnualized.

 

JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

 

 

Additional Index Information

 

Bloomberg U.S. Aggregate Bond Index is a broad-based, flagship benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, mortgage-back securities (agency fixed-rate pass-throughs), asset-backed securities and collateralised mortgage-backed securities (agency and non-agency).

Each of Fidelity Freedom Index Income Composite IndexSM, Fidelity Freedom Index 2005 Composite IndexSM, Fidelity Freedom Index 2010 Composite IndexSM, Fidelity Freedom Index 2015 Composite IndexSM, Fidelity Freedom Index 2020 Composite IndexSM, Fidelity Freedom Index 2025 Composite IndexSM, Fidelity Freedom Index 2030 Composite IndexSM, Fidelity Freedom Index 2035 Composite IndexSM, Fidelity Freedom Index 2040 Composite IndexSM, Fidelity Freedom Index 2045 Composite IndexSM, Fidelity Freedom Index 2050 Composite IndexSM, Fidelity Freedom Index 2055 Composite IndexSM, Fidelity Freedom Index 2060 Composite IndexSM, and Fidelity Freedom Index 2065 Composite IndexSM is a customized blend of the following unmanaged indexes: Bloomberg Global Aggregate Treasury ex USD, ex Emerging Markets, RIC Capped, Float Adjusted Index (Hedged USD),Bloomberg U.S. 3-6 Month Treasury Bill Index, Bloomberg U.S. Long Treasury Bond Index, Bloomberg U.S. Aggregate Bond Index, Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index, Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 5+ Years Index, Dow Jones U.S. Total Stock Market Index℠, and MSCI All Country World ex U.S. Index (Net MA). The index weightings are adjusted monthly to reflect each fund's changing asset allocations. The compositions differed in periods prior to September 1, 2021.

S&P 500® Index is a market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.

"Bloomberg®" and the index or indices are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited ("BISL"), the administrator of the index (collectively, "Bloomberg"), and have been licensed for use for certain purposes by the Adviser. 

The fund(s) are not sponsored, endorsed, sold or promoted by Bloomberg. Bloomberg does not make any representation or warranty, express or implied, to the owners of or counterparties to the fund(s) or any member of the public regarding the advisability of investing in securities generally or in the fund(s) particularly. The only relationship of Bloomberg to the Adviser is the licensing of certain trademarks, trade names and service marks and of the index or indices, which is determined, composed and calculated by BISL without regard to the Adviser or the fund(s). Bloomberg has no obligation to take the needs of the Adviser or the owners of the fund(s) into consideration in determining, composing or calculating the index or indices. Bloomberg is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the fund(s) to be issued. Bloomberg shall not have any obligation or liability, including, without limitation, to fund(s) customers, in connection with the administration, marketing or trading of the fund(s). 

BLOOMBERG DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE INDEX OR INDICES OR ANY DATA RELATED THERETO AND SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS THEREIN. BLOOMBERG DOES NOT MAKE ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY THE ADVISER, OWNERS OF THE FUND(S) OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDEX OR INDICES OR ANY DATA RELATED THERETO. BLOOMBERG DOES NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE INDEX OR INDICES OR ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, TO THE MAXIMUM EXTENT ALLOWED BY LAW, BLOOMBERG, ITS LICENSORS, AND ITS AND THEIR RESPECTIVE EMPLOYEES, CONTRACTORS, AGENTS, SUPPLIERS, AND VENDORS SHALL HAVE NO LIABILITY OR RESPONSIBILITY WHATSOEVER FOR ANY INJURY OR DAMAGES-WHETHER DIRECT, INDIRECT, CONSEQUENTIAL, INCIDENTAL, PUNITIVE OR OTHERWISE-ARISING IN CONNECTION WITH THE FUND(S) OR INDEX OR INDICES OR ANY DATA OR VALUES RELATING THERETO-WHETHER ARISING FROM THEIR NEGLIGENCE OR OTHERWISE, EVEN IF NOTIFIED OF THE POSSIBILITY THEREOF. 

The index or indices are a product of S&P Dow Jones Indices LLC ("SPDJI"), and has/have been licensed for use by the Adviser. Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). It is not possible to invest directly in an index. The fund(s) are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or any of their respective affiliates (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices makes no representation or warranty, express or implied, to the owners of the fund(s) or any member of the public regarding the advisability of investing in securities generally or in the fund(s) particularly or the ability of the index or indices to track general market performance. Past performance of an index is not an indication or guarantee of future results. S&P Dow Jones Indices' only relationship to the Adviser with respect to the index or indices is the licensing of the index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The index is or indices are determined, composed and calculated by S&P Dow Jones Indices without regard to the Adviser or the fund(s). S&P Dow Jones Indices have no obligation to take the needs of the Adviser or the owners of the fund(s) into consideration in determining, composing or calculating the index or indices. S&P Dow Jones Indices is not responsible for and has not participated in the determination of the prices, and amount of the fund(s) or the timing of the issuance or sale of the fund(s) or in the determination or calculation of the equation by which the fund(s) is to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of the fund(s). There is no assurance that investment products based on the index or indices will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment or tax advisor. A tax advisor should be consulted to evaluate the impact of any tax-exempt securities on portfolios and the tax consequences of making any particular investment decision. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice.

S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE INDEX OR INDICES OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY THE ADVISER, OWNERS OF THE FUND(S) OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDEX OR INDICES OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND THE ADVISER, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.

 

IMPORTANT INFORMATION ABOUT OPENING A NEW ACCOUNT To help the government fight the funding of terrorism and money laundering activities, the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT ACT), requires all financial institutions to obtain, verify, and record information that identifies each person or entity that opens an account. For individual investors opening an account: When you open an account, you will be asked for your name, address, date of birth, and other information that will allow Fidelity to identify you. You may also be asked to provide documents that may help to establish your identity, such as your driver's license. For investors other than individuals: When you open an account, you will be asked for the name of the entity, its principal place of business and taxpayer identification number (TIN). You will be asked to provide information about the entity's control person and beneficial owners, and person(s) with authority over the account, including name, address, date of birth and social security number. You may also be asked to provide documents, such as drivers' licenses, articles of incorporation, trust instruments or partnership agreements and other information that will help Fidelity identify the entity.

You can obtain additional information about the funds. A description of each fund's policies and procedures for disclosing its holdings is available in its Statement of Additional Information (SAI) and on Fidelity's web sites. The SAI also includes more detailed information about each fund and its investments. The SAI is incorporated herein by reference (legally forms a part of the prospectus). Each fund's annual and semi-annual reports also include additional information. Each fund's annual report includes a discussion of the fund's holdings and recent market conditions and the fund's investment strategies that affected performance.

For a free copy of any of these documents or to request other information or ask questions about a fund, call Fidelity at 1-800-835-5092 (plan accounts) or 1-800-544-8544 (all other accounts). In addition, you may visit the web site at www.401k.com (plan accounts) or www.fidelity.com (all other accounts) for a free copy of a prospectus, SAI, or annual or semi-annual report or to request other information.

The SAI, the funds' annual and semi-annual reports and other related materials are available from the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) Database on the SEC's web site (http://www.sec.gov). You can obtain copies of this information, after paying a duplicating fee, by sending a request by e-mail to [email protected] or by writing the Public Reference Section of the SEC, Washington, D.C. 20549-1520. You can also review and copy information about the funds, including the funds' SAI, at the SEC's Public Reference Room in Washington, D.C. Call 1-202-551-8090 for information on the operation of the SEC's Public Reference Room.

Investment Company Act of 1940, File Number(s), 811-06440

Fidelity Distributors Company LLC (FDC) is a member of the Securities Investor Protection Corporation (SIPC). You may obtain information about SIPC, including the SIPC brochure, by visiting www.sipc.org or calling SIPC at 202-371-8300.

Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2023 FMR LLC. All rights reserved.

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