Is there anyone out there? State Pension is deferring financially rewading?

GillyFlower

What are the next steps to take? I find it rather confusing when I read the options and of course could it be a 'bird in the hand is worth two in the bush'. I have deferred since 2005 and if I wait until July 2007 that is 2 years worth. Did it because I was still paying a lot of tax - now it has come to an end and I have no other pension fund only savings.

Let us say there is a possibility seasonal work will bring in 4 k income this year.

So if I do start drawing my pension any advice on options that seems open to me -

For example -

1. Take Cash Lump Sum and then draw my pension (I only have 29 qualifying years)

2. To keep a Cash Lump Sum attracting interest - pension deferred from July 2005 and still is.

3.Maybe even using an ISA for cash because it may not pay as much interest as Pension Deferral- has anyone done this calculation?

4. When I decide to draw pension, say for example in July 2007, to have funds accumulated over two years converted into additional payments spread out over the weeky pension.

I hope this makes sense - any thoughts would be welcome.