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What's the number ?

Hi

I have a final salary indexed linked pension and I will retire sometime in the next couple of years. I am 53.I am planning to defer the pension for approximately 3 years. As a result of deferring the pension I think it will increase my annual pension by about £2.2k / year.

So something I've been thinking about is should I defer it for longer if I have the means to support myself for longer ?

So what would be a good way of working out what that increase is worth in monetary terms to help me work out the merit of delaying further and indeed should I not burn my savings by deferring for so long ?

e.g. If my costs / year amounted to £35k is the £2.2k increment worth it ? What is the maximum costs that make it worth it ?

Thanks.

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