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Advice sought..........
Comments
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What is your combined number to live off ?0
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James: I think you just answered a question I posted on the forum today.jamesd said:
You're allowed to defer claiming your state pension. For each year that you defer claiming it'll be increased by 5.8%, plus the increases accrued during the time you're deferring. The extra bit is increased by CPI not triple lock and is paid for life.
Without wishing to hijack the thread, could you please confirm that the (new) SP is increased by years deferred * CPI before the 5.8%p.a. uplift is applied?
Many thanks0 -
Not just CPI, also triple lock for the applicable portion.
What's done is calculate your unenhanced entitlement with all of the usual annual increases first. Then the 5.8% pro-rated increment is applied to that total.2
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