Drawing my state pension

Pamela_G

I can draw my state pension pension next year or leave until I need it as I will still be working. Do you advise I take it & save it myself if so what form of saving do you recommend please?

chesky369

I deferred my state pension for 2.5 years, as I was working and was very happy to do so - I wanted the guaranteed security of the higher rate of regular pension long term and am pleased I took the decision. Have you been able to work out the precise figures if you defer? There used to be a really helpful table which gave you the complete figure vis-a-vis the number of years deferred and the weekly rate.

MikeJones_2

Hi Pamela G,

If you haven't already seen it The Pensions Service offers some useful material on their website.

Mike Jones

I work in the field of Pension Education and Pension Guidance in the UK. I am a current member of the Specialist Pensions Forum as well as being a Voluntary Adviser for The Pensions Advisory Service. I work with scheme members, employers, trustees, scheme administrators and advisers on most things to do with employer sponsored pension schemes. The views expressed by me in this thread are my personal opinions. You should seek professional advice from an appropriately experienced and qualified adviser. I am not an IFA.