State pensioners could boost sum by up to £14.75 per week by ‘doing nothing’ | Personal Finance | Finance
By deferring for 52 weeks, people will get an extra £10.70 a week, and the extra amount if paid out with their regular state pension payment.
Ultimately, the decision on whether deferring is right for an individual relates to life expectancy.
The matter was recently highlighted by Rachel Lacey, at Interactive Investor, who explained: “Currently somebody claiming the full new state pension would get approximately £9,628 a year.
“However, if they decided to defer for a year, that income would be boosted by £556 a year to £10,184.
“Based on these figures it would take around 17 years to recoup the £9,628 that they missed out on in the first year and start benefiting from deferral.
“In reality it might actually be a little faster than that because these figures don’t take increases to the state pension into account.”