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Old State pension deferral under pre 2016 pension
firstdan
Posts: 4 Newbie
I deferred my state pension under the old system for more than 10 years. I am still at full employment. Time has come to think about how to take my deferred pension:
1. Lump sump or as additional pension
2. I am clear what I get as an additional pension . 10.4 % increase for each year deferred. And is not cumulative. After 10 years by pension has gone up more than 100%.
1. Lump sump or as additional pension
2. I am clear what I get as an additional pension . 10.4 % increase for each year deferred. And is not cumulative. After 10 years by pension has gone up more than 100%.
3. LUMP SUM: for each year my pension goes up with 2 % plus Bank of England base rate for each year deferred. Question I have is this? Is the interest cumulative? Is the interest added for the first year goes up with interest for the second year and so on?
4 if I take my pension and deferred pension, can I defer it again?
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https://forums.moneysavingexpert.com/discussion/comment/81366317#Comment_813663170
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