Is deferring a state pension a good idea?

[Richard92]

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.

It is a good idea for what has two different their state pension because they think with that they can be able to acquire more money from pension at the end of the day .

 

[Bousine123]

Depending on the country you are my friend, in my country, deferring your pension would mean you are dead or not interested, and the government will not pay.

 

[Toyoabasi]

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.

I don't understand how deferring a pension would cause an increase in the pension.
I believe that if the pension is not claimed, it will not be paid.

 

[Mayox25]

It does not work that way in my country,when people retire they are to be paid their gratuity and after that they will be receiving their monthly pension. But it usually takes so many years before some can even get their benefits.

 

[greenie]

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.

 

[HayKay]

I haven't heard of this option before but if I would definitely do it as a way to pass something on to my generation because even after retirement, I'll still have businesses that would keep bringing in money and I wouldn't need the funds much then.

 

[frederick_9]

Delaying your State Pension may be a smart move if you have retirement income from other sources or are still employed.
You can get a lump sum payout or a greater weekly State Pension if you delay your State Pension for just a few weeks.

 

[tyrim88]

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.

That would be if there are some source that the individual that is due for retirement will be living from,because the issue of pension is time dependent and your pension will increase as it stays longer.

 

[Alisco]

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 a good idea to differ pension allowance. The problem is that retired civil servants mostly suffered violence because of the low salary scheme to Wich they have no chance of saving from it. That's is why not all retirees tends to differ pension.

 

[Genie01]

This is the first time I am hearing about differing a state pension.
But I believe that it is not a good idea because it would negatively have impact on the life of the pensioners.