According to the pensions expert they used to have on working lunch, the only pension worth deferring is the state pension. This is because the state will increase the pension by 10.4% per annum. You can defer for a shorter period, say 6 months, for an increase of 5.2% per annum. Worth thinking about if you are confident of a reasonably long retirement, and have other means to live on.Dad wrote:I don't get it. If you opt not to take your pension at 60, you are effectively declining an income of £7000 per year (in your case) less tax. When do you get this back or is it lost forever? I don't see the advantage of deferring taking your pension until you eventually retire!
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Working on after 60 and not taking any pension
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heapsy
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