pension deferral or not

dowling

if working full time and deferred my state pension last july birthday in my understanding have 4 and half years untill i want to retire am i right in saying my only down fall if was to take my state pension after a year of deferring would be i would be taxed more as of still working full time so would be in higher tax bracket but if i keep deferring it i would not be garunteed to get back the years i dident claim my state pension

HappyHarry

You could draw your state pension and put the income into a personal pension ready for when you do retire. You would then receive higher rate tax relief on the part that attracts higher rate tax.

Marcon

dowling said:

if working full time and deferred my state pension last july birthday in my understanding have 4 and half years untill i want to retire am i right in saying my only down fall if was to take my state pension after a year of deferring would be i would be taxed more as of still working full time so would be in higher tax bracket but if i keep deferring it i would not be garunteed to get back the years i dident claim my state pension

You (or more accurately your estate) wouldn't be able to claim anything in respect of your state pension if you die before putting it into payment.