deferred state pension

marie_hc

Hello again 

Hope some one can undsterstand or guide me in this one 


When I had notification of my pension I rang.  I was told the following:-
     I am totally at a loss here to understand deferment of pension..  


1       if I don't claimed I am automatically deferred. every 9 weeks get small amount of money I think he said 50p or £1. 

2.      I would receive deferred payment in addition to my pension when I claimed.

3.      I would get pension and get an amount of money accumulated by deferment.  eg  £6.00 and that money would be
          paid weekly but never increase only my pension would increase .

4.      told that when  I claim if less than one year the amount of pension would be paid in full, if over 1 year it could be
         paid in stages .

5.      I have just noticed that I am not receiving my addtional extra payment ( deferred bit) only pension.

6.      I rang pensions to query this he said I don't get any extra because i claimed my pension  and they paid in full the
         nine months.   I would only get it if I hadn't claimed  my pension I didn't not undestand this and he couldn't 
         explain so he passed it off and said he would get an expert to look into it and they would ring me..   
         Don't they warn us about calls !!!!

7.      I have found this  I should say I am post 2016  new pension .

         

Wh at you'll get

The amount of extra State Pension you could get depends on when you reach State Pension age.

If you reach State Pension age on or after 6 April 2016

Your State Pension will increase every week you defer, as long as you defer for at least 9 weeks.

Your State Pension increases by the equivalent of 1% for every 9 weeks you defer. This works out as just under 5.8% for every 52 weeks.

The extra amount is paid with your regular State Pension payment.

Example

You get £185.15 a week (the full new State Pension).

By deferring for 52 weeks, you’ll get an extra £10.70 a week (just under 5.8% of £185.15).   



8        He made it very clear in pensions that I do not get this because I clamed my pension  




Has anyone encountered this or had phone with person sating their from pension any help appreciated   
thank you   

sorry for length trying to be breif 


          

Ganga

When was your state pension due and how long did you defer it before you started drawing it ?

marie_hc

Ganga said:

When was your state pension due and how long did you defer it before you started drawing it 

it was due november 2020 to 10 august 2021 
they paid from novemer to august then first payment september 

Dazed_and_C0nfused

If you want proper answers you need to provide some more details.

Original entitlement

Actual weekly pension paid 

That sort of thing.

molerat

If they paid you the backdated amount with your first payment then you backdated claiming ed late rather than deferred, there will be no extra due.

marie_hc

molerat said:

If they paid you the backdated amount with your first payment then you claimed late rather than deferred, there will be no extra due.

So what other way is deferred?    can you explain please??

molerat

You must have chosen to have your claim backdated, which you can do for 12 months, rather than commencing the deferred pension which meant they paid all you were owed with the first payment, which is purely the amount of unpaid pension with no interest, rather than paying an increased weekly amount.

Secret2ndAccount

Suppose you are entitled to £150 per week

Backdated:

You delayed claiming by 36 weeks. They make an extra payment to you 36 x £150 = £5400. So you get one big payment of £5400. You have caught up. It's just as if you claimed on the first day. Your pension remains at £150. Each year, it will increase by inflation or more (the Triple Lock).

Deferred:

You choose to put off receiving your pension. There will be no big catch-up payment. In exchange, they give you a bigger pension for the rest of your life. For every 9 weeks you defer, you get 1% extra. In this case, if you deferred 36 weeks, you get 4% extra, so now £156/week.

The automatic method if you don't claim is Deferred. To get it backdated instead you have to ask them.
The extra part of your pension does increase with inflation. It doesn't get the triple lock. So if inflation is high, you get the same increase on the £6 as on the £150. If inflation is 1% then the £150 goes up by 2.5% (that's the minimum under the triple lock) but the £6 only goes up by 1%. Still protected against inflation.

Hope this helps.

marie_hc

Secret2ndAccount said:

Suppose you are entitled to £150 per week

Backdated:

You delayed claiming by 36 weeks. They make an extra payment to you 36 x £150 = £5400. So you get one big payment of £5400. You have caught up. It's just as if you claimed on the first day. Your pension remains at £150. Each year, it will increase by inflation or more (the Triple Lock).

Deferred:

You choose to put off receiving your pension. There will be no big catch-up payment. In exchange, they give you a bigger pension for the rest of your life. For every 9 weeks you defer, you get 1% extra. In this case, if you deferred 36 weeks, you get 4% extra, so now £156/week.

The automatic method if you don't claim is Deferred. To get it backdated instead you have to ask them.
The extra part of your pension does increase with inflation. It doesn't get the triple lock. So if inflation is high, you get the same increase on the £6 as on the £150. If inflation is 1% then the £150 goes up by 2.5% (that's the minimum under the triple lock) but the £6 only goes up by 1%. Still protected against inflation.

Hope this helps.

thank you so much  why could the pensions not told me that when I first spoke to them,  that is not what they led me to believe at all.  Neither could pensions the other day not explain it that simply. to me as I believed  I would get my pension back and the extr apayment .    One wonders if it is deliberate sometimes not to give onformation correctly 

thank you again 

marie_hc

molerat said:

You must have chosen to have your claim backdated, which you can do for 12 months, rather than commencing the deferred pension which meant they paid all you were owed with the first payment, which is purely the amount of unpaid pension with no interest, rather than paying an increased weekly amount.

yes  If I knew I would have put money into savings and earned money 

marie_hc

I would like to say thank you people for you help I Understand now  but wish I had not had wrong advice in the first place.