A invitation letter to claim my SP

Outeast1000

Last November i received a invitation letter to claim my SP which i could have claimed in February this year but i chose to defer claiming  it until October this year 

I have two questions to ask you ( 1 )  Can i use the original  code that was sent to me  in  the invitation letter last November to claim my SP or do i have to request a new one  ( 2 ) How long can you defer claiming your SP i think it is something like 11 months 

Thank You 

Dazed_and_C0nfused

Outeast1000 said:

Last November i received a invitation letter to claim my SP which i could have claimed in February this year but i chose to defer claiming  it until October this year 

I have two questions to ask you ( 1 )  Can i use the original  code that was sent to me  in  the invitation letter last November to claim my SP or do i have to request a new one  ( 2 ) How long can you defer claiming your SP i think it is something like 11 months 

Thank You 

Don't know about (1) but for (2) there is no limit.

How long is the optimum time to defer is a different question and amongst other things will depend on your tax situation and estimated life expectancy.  

molerat

You can backdate the pension commencement for up to 12 months so receiving that payment in a lump sum but you can defer for as long as you wish.

Silvertabby

Dazed_and_C0nfused said:

Outeast1000 said:

Last November i received a invitation letter to claim my SP which i could have claimed in February this year but i chose to defer claiming  it until October this year 

I have two questions to ask you ( 1 )  Can i use the original  code that was sent to me  in  the invitation letter last November to claim my SP or do i have to request a new one  ( 2 ) How long can you defer claiming your SP i think it is something like 11 months 

Thank You 

Don't know about (1) but for (2) there is no limit.

How long is the optimum time to defer is a different question and amongst other things will depend on your tax situation and estimated life expectancy.  

Under the post 2016 rules, 11 months is the maximum for a back-dated lump sum.   After you've passed the 12 month marker you can defer for as long as you wish - but when you do decide to claim your pension it will be paid at a higher rate without the option of taking a lump sum.

Brie

molerat said:

You can backdate the pension commencement for up to 12 months so receiving that payment in a lump sum but you can defer for as long as you wish.

But if you back date you will have issues if you claim and income related benefits.  Essentially by back dating you are changing your income for that period which may mean you didn't qualify for the benefits and therefore have to pay them back.  Not a problem if you don't backdate them.

Stubod

I have deferred mine for 12 months. I went online and asked for a new "code". It arrived by post 2 days later and I went onto the Gov. website and used it to claim my SP. (....took about 5 mins total).

I do want mine paid weekly, and there is no option for this when you claim. I think you need to phone them and request this option..?

p00hsticks

Brie said:

molerat said:

You can backdate the pension commencement for up to 12 months so receiving that payment in a lump sum but you can defer for as long as you wish.

But if you back date you will have issues if you claim and income related benefits.  Essentially by back dating you are changing your income for that period which may mean you didn't qualify for the benefits and therefore have to pay them back.  Not a problem if you don't backdate them.

As I understand it, means tested benefit calculations work on the assumption that you will be claiming your full state pension entitlement as soon as you reach State Pension Age, whether you actually choose to do so or not. 

And working age benefits such as Universal credit will stop as soon as you reach SPA, regardless of whether you claim your State Pension or not. 

luvchocolate

Stubod said:

I have deferred mine for 12 months. I went online and asked for a new "code". It arrived by post 2 days later and I went onto the Gov. website and used it to claim my SP. (....took about 5 mins total).

I do want mine paid weekly, and there is no option for this when you claim. I think you need to phone them and request this option..?

Yes you can request weekly or fortnightly by calling them