Paying tax on a deferred pension.

Dvnfermling

I am 62 and planning on retiring 31st March 2023. I am currently paying 59% of wages into a DC pension by salary sacrifice through my employer. This leaves an estimated income for this year of £23825 with a Scottish tax code S1383M. I also have an old civil service pension in payment estimated £2945 with a tax code SBR.
My question relates to the timing of me drawing a DB pension of £13000 per annum. It has been deferred since turning 60 so I would have taxable arrears of £33600 if I put it into payment March/April. There is no tax free lump sum and my wife and I have checked we are entitled to a full state pension.
From a tax point of view it looks like I should wait until the next tax year 2023/24 before putting it into payment but am I missing something. Would I be better taking it in the current tax year and making an additional payment into my DC pension to try and reclaim any 41% tax I pay.

Albermarle

My question relates to the timing of me drawing a DB pension of £13000 per annum. It has been deferred since turning 60 so I would have taxable arrears of £33600 if I put it into payment March/Apr

Often if you do not take a DB pension at the Normal Retirement date, then you just lose those years OR the value of the annual pension increases by a % each year you do not take it. I think ( I might be wrong) that building up arrears in this way is unusual. So just checking that  you are 100% sure about this? The problem with DB schemes is that they all have their own specific scheme rules and there no hard and fast rules.

Dazed_and_C0nfused

Agree with @Albermarle, just because you haven't taken the pension at 60 doesn't automatically mean amounts which could have been paid from then will be paid in arrears.

And with those levels of DB pension are you 100% certain about your State Pension(s)?

Most forecasts will say £185.15 as the headline figure but when you read it in full that is caveated with making additional contributions.

Have you definitely already accrued £185.15?

Dvnfermling

I checked our state pension last year and I had the full state pension, we paid 2 years contributions to top my wife's up as she had retired at 55.
The following is the text from an email sent from the company pension department.

"If you do delay taking your pension you will receive all arrears due to you from your Normal Retirement Date (19/08/2020) to the date of your first payment.  The arrears will include any inflationary increases due had your pension been in payment."