We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
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?
0
Comments
-
Had you read through this thread and links?
https://forums.moneysavingexpert.com/discussion/comment/81366317#Comment_813663170
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.4K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards