Is deferring a state pension a good idea?

[Ogbest]

Deferring a state pension is a default option, if you don't claim your state pension, it won't get paid to you. So claiming it is something about which you need to make an active decision. But for a lot of people, deferring will be a good a good choice. if you defer, your pension will increase by about 5.8% per year for each year of deferral.

 

[Alexandoy]

Same here, if you do not apply for a pension then you will not receive anything. As the institution stated they do not monitor people in their list because there are millions of qualified pensioners. When I was nearing the minimum age to receive a pension I applied to the nearest office of the pension institution. Fortunately there is a nearby branch so it is not a hassle to go back every time they need a required document. It took me 2 months to finish everything and when I reached the age my ATM account started receiving the monthly pension.

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[Bangiszz]

If you have retirement income coming from other sources or are still working, it could be a good idea to defer your State Pension. Delaying your State Pension by just a few weeks could result in you receiving a higher weekly State Pension amount, or even a lump sum payment.

 

[Quert]

It might be a smart idea to delay your national pension if you have or still have retirement income from another source. If your government pension were to be postponed by only a few weeks, you would earn a higher weekly state pension or a flat-rate allowance.

 

[Ogbest]

Same here, if you do not apply for a pension then you will not receive anything. As the institution stated they do not monitor people in their list because there are millions of qualified pensioners. When I was nearing the minimum age to receive a pension I applied to the nearest office of the pension institution. Fortunately there is a nearby branch so it is not a hassle to go back every time they need a required document. It took me 2 months to finish everything and when I reached the age my ATM account started receiving the monthly pension.

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From what I have read so far and from people's comments, it seems it is somehow good to defer a pension, since you will be getting higher amount than the normal about you use to get.

 

[Chumzy]

In some countries maybe yes can work because they have a good system. In a country where nothing good works well that might be a big risk. There are countries where many don't even get to claim their pension and are owed.

 

[Sariana23]

I think it all depends on the physical condition of the person who is a candidate for said retirement and the country. If you are an elderly person I think you should not postpone the benefits of it. Maybe you need them to buy medicines or for some type of investment or help relatives. When I talk about country I mean those who take years to receive the pension. The more proto you request your assignment, the more likely you are to receive it.

 

[Debola]

Deferring a state pension is a default option, if you don't claim your state pension, it won't get paid to you. So claiming it is something about which you need to make an active decision. But for a lot of people, deferring will be a good a good choice. if you defer, your pension will increase by about 5.8% per year for each year of deferral.

If you have retirement income coming from other sources or are still working, it could be a good idea to defer your State Pension. Delaying your State Pension by just a few weeks could result in you receiving a higher weekly State Pension amount, or even a lump sum payment

 

[Akinwale701]

Deferring a state pension is a default option, if you don't claim your state pension, it won't get paid to you. So claiming it is something about which you need to make an active decision. But for a lot of people, deferring will be a good a good choice. if you defer, your pension will increase by about 5.8% per year for each year of deferral.

It is not good to defer a pension at all. pension is meant to be paid as and when due and collected by the pensioner. anyone who defers a pension is trying to tell the government that he or she doesn't need the so called pension, that is the meaning. collect your pension when due. simple.

 

[Thosynho]

Deferring a state pension is a default option, if you don't claim your state pension, it won't get paid to you. So claiming it is something about which you need to make an active decision. But for a lot of people, deferring will be a good a good choice. if you defer, your pension will increase by about 5.8% per year for each year of deferral.

Deferring your pension to earn additional 5.8% per year would have been better in a saner clime not in Nigeria. People that do not even defer their pension pay are yet to receive their pension not to talk of deferring it.

 

[Sunnytee]

you defer a defined contribution pension there's potential for your savings to continue growing as your money will be invested for longer. ... As this type of pension isn't linked to investment performance, it's unlikely that deferring a defined benefit pension will result in a higher retirement income.

 

[eojo2401]

Pensions scheme under the state government in my state is a big scam. Since 2016 non of the pensioners were able to collect there pension. The government still put salt on the injuries of workers by pay half salaries to those that are yet to retire for complete 18 months. So I don't have confidence in state pension.

 

[Hasan Raza]

In the event that you have retirement pay coming from different sources or are as yet working, it very well may be a smart thought to concede your State Pension. Postponing your State Pension by only a couple weeks could bring about you getting a higher week by week State Pension sum, or even a singular amount installment.

 

[Mahnoor]

Normally, you start to receive your state pension when you reach state pension age. But you have the option of deferring your pension, during which period you will not receive your state pension. State pension deferral means that you delay claiming, or stop your state pension, until a time that suits you.

 

[Sanusi]

Deferring a state pension is good if i can have an increase in pension then i can decide to defer my pension for some time, its also depend whether am in need or am not in need of pension so if am not in dire need of my pension i will defer it but if am in need i will not.

Post automatically merged: Feb 7, 2021

Deferring a state pension is good if i can have an increase in pension then i can decide to defer my pension for some time, its also depend whether am in need or am not in need of pension so if am not in dire need of my pension i will defer it but if am in need i will not.

 

[Richard92]

Deferring state pension all depends on the pensioner the pensioner do what's best for him or her as far as it pays them more however it is also a good idea to claim your state pension rather and deferring your state pension.

 

[Erik4150]

You can defer your pension if you want to. It is your right after all. But definitely only people with other sources of income can defer. The benefits of deferring pension is different for each person because not everybody receives the same amount of pension. Pension laws also differ in other countries.

 

[Kayzzy3]

Deferring a state pension is a default option, if you don't claim your state pension, it won't get paid to you. So claiming it is something about which you need to make an active decision. But for a lot of people, deferring will be a good a good choice. if you defer, your pension will increase by about 5.8% per year for each year of deferral.

It's best for you to claim all that's is yours, deferring will increase it visually in reality when you need to have the money, stories will enter.

Pension management in most African countries are just a scam scheme, go for and get your pension is best option

 

[Waseem74]

If you have retirement income coming from other sources or are still working, it could be a good idea to defer your State Pension. Delaying your State Pension by just a few weeks could result in you receiving a higher weekly State Pension amount, or even a lump sum payment.

 

[Seun4luv]

Your state pension will increase every week you defer, as long as you defer for at least five weeks. It also increases by the equivalent of one per cent for every five weeks you defer. This works out as 10.4 per cent for every 52 weeks. The extra amount is paid with your regular state pension payment.