Postponing Your State Pension

Published / Last Updated on 05/02/2014

The government offers an increase of 1% for every 5 weeks you postpone your pension. They will also add interest meaning a combined overall incentive of 10.4%pa.You can choose to have the deferred pension + 10.4%pa bonus paid as a lump sum or increased income. However, due to the fact your state pension is classed as a taxable income there may be tax due.

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