Help ...Clueless!

poorbird73

Hi All!

I have just turned 60 and not sure what to do about my state pension. I will continue working after a months break at 30 hours a week and recieving apx 1500. a month after tax. I will also get my work pension of £400. monthly after tax. I have recieved a tax free lump sum also.
My problem is that I am in the process of a divorce (he left over 5 years ago so ot should run quickly and smoothly.) Do I wait to apply for my state pension till we are divorced or do I apply now? I am totally confused, please help!

Thanks

McKneff

You can defer your state pension for as long as you like and then when you do apply for it you can have a lump sum of the money you have deferred (less tax) plus a reasonable rate of interest, or a slightly bigger pension.
You really should have made the decision about 2 or 3 months ago.
When i retire in October i will stay on at work part time, take my company pension and defer my state pension and then when i fully retire i will take my lump sum and normal pension. I was advised to do this just recently by a ifa

EdInvestor

poorbird73 wrote: »

I have just turned 60 and not sure what to do about my state pension. I will continue working after a months break at 30 hours a week and recieving apx 1500. a month after tax. I will also get my work pension of £400. monthly after tax. I have recieved a tax free lump sum also.
My problem is that I am in the process of a divorce (he left over 5 years ago so ot should run quickly and smoothly.) Do I wait to apply for my state pension till we are divorced or do I apply now? I am totally confused, please help!

Thanks

Apply now. You are entitled to a state pension based on your own contributions, or one based on 60% of your husband's pension (assuming he is over 65), whichever is the higher.A divorcee is entitled to 100% of her husband' s pension.

Contact https://www.thepensionservice.gov.uk to check out your options.