Deferred State Pension - Use it or lose it

Myob

If you defer (or don’t claim) your state pension, your estate may not be able to claim it.

I am an executor for an unmarried person with no dependants who died before claiming his state pension. He could have been claiming state pension for 3 years.

I have been advised that the estate cannot claim the amount of the pension that he would have received if he had been claiming what he was entitled to. Is that unfair, or what?

Spreadsheetman

Myob wrote: »

If you defer (or don’t claim) your state pension, your estate may not be able to claim it.

I am an executor for an unmarried person with no dependants who died before claiming his state pension. He could have been claiming state pension for 3 years.

I have been advised that the estate cannot claim the amount of the pension that he would have received if he had been claiming what he was entitled to. Is that unfair, or what?

No, that pays for people that live longer than actuarial life expectancy.

Mnd

Not really, because he's taking a gamble that the enhancement will outweigh the loss of money whilst deferred.you can't bet on a horse and get your stake back if it loses can you?

xylophone

Presumably he become eligible for state pension before 6/4/2016?

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/591894/state-pension-deferral-if-you-reached-state-pension-age-before-6-april-2016-and-you-die-extra-information.pdf

https://www.taxation.co.uk/Articles/2018/03/13/337736/risks-deferring-former-state-pension