Pay no tax?

Ganga · 23 July 2017 at 5:08PM

Anybody confirm?

xylophone · 23 July 2017 at 8:13PM

http://www.litrg.org.uk/tax-guides/pensioners-and-tax/what-state-pension-deferral

greenglide · 23 July 2017 at 8:24PM

I believe that you can draw your lump sum and defer one more time.

Yes you can.

Under the old rules you can defer at the beginning, take the pension and then defer again. The only gotcha is that if you take the pension at SPa you can only "defer" once.

DWP insist on calling all of these events "deferment" rather than "deferment" (from the start) and "de-retirement" or "suspension" when the pension has been in payment.

Under the new rules with nSP (SPa on or after 6/4/2016) you can only "defer" once and the rewards arent as good.

So in you case it is fine - see https://www.nidirect.gov.uk/articles/state-pension-deferral-options "Separate periods of State Pension deferral". This is a Northern Ireland site but the law is the same - they just seem to have forgotten this bit on the UK site.

Ganga · 24 July 2017 at 8:27AM

Thanks to all the help/information supplied,sorry i did not give enough background initially but hopefully everything is now clear,sorry did not get back earlier but to-day is my 67 th birthday so had a few drinks last night.Again thanks to all who took the time and trouble to reply.

Ganga · 24 July 2017 at 5:25PM

Have spoken to Dept. of Works and Pensions and have asked them to pay my pension as lump sum,no problembs,will send out letter and as i have deffered for two years will include the option of lump sum or enhanced pension payments,the person i spoke to has also deffered my pension again from to-day or De-retire as they now call it so hopefully everything should fall into place.

Pay no tax?

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