Deferring State Pension

33Lurcher

May be wrong and hope I am for you , it was based on my expectations for my deferring on reaching SPA in Jan 2017 .

badmemory

33Lurcher wrote: »

Just ring up and they will sort it , you won't benefit from the 10.4% per yr that deferring generates , it was reduced to roughly half that (5.8%) from April this yr for new applications .

The 5.8% only refers to people retiring under the new state pension rules, if you retired under old rules then it is still 10.4% even if you start deferring now.

kidmugsy

Theta101 wrote: »

I thought if you reached SPA before 2016, then the 10.4% applied.

You are right. What matters is your birthday.

33Lurcher

:Good news for you then

Theta101

Thanks everyone for clearing that up

It was this site that made me aware of deferring, so thanks for that too.

It's actually my "common law wife" that will be deferring.

She still works part time, we have savings/capital/ISAs, and she pays PAYE on her income+state pension.
So isn't it a 'no-brainer' for her to defer and pay less (no) PAYE and get 10.4% per year on the SP?

Also, by deferring after claiming, would she go back to paying NI which was stopped when she claimed her SP?
My feeling is that she will NOT pay NI from her job, but not sure.

Thanks I've learnt such a lot in such a short time!

kidmugsy

Theta101 wrote: »

"common law wife"

That category actually exists in the law in some US states. It doesn't here. Don't persuade yourselves that you have rights that you don't.

LXdaddy

As kidmugsy says... Common law wife is not a term that is recognised in UK law. This is a status which does not confer any rights that are enjoyed by a spouse.

xylophone

https://www.gov.uk/tax-national-insurance-after-state-pension-age/overview

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/527015/state-pension-deferral-if-you-reached-state-pension-age-before-6-april-2016-extra_information.pdf

Theta101

kidmugsy and LXdaddy, thanks for pointing that out... I might HAVE to marry her

xylophone, thanks for the link, so she's finished paying NI