Deferred pension

Deferring your state pension means putting off when you receive it. This can be particularly useful if you are still working and can mean that you receive a larger weekly payment when you do opt to receive it.

Alternatively, you can receive the deferred amount as a lump sum. You can also defer receiving your state pension after you have started to receive it, though you can do this only once.

As to whether it is worth deferring your pension, this depends on how long you live. As a basic rule of thumb, if you defer receiving your state pension for two years and then live longer than a further ten years once you begin to take it, you will end up receiving more.

	City bonuses deferred until April 2013 to lower 45p tax rate Official figures show that there was a steep rise in the number of City bankers deferring bonuses until April 2013 to take advantage of the reduction in income tax for higher earners.
	Bob Diamond may not be paid total £2.7m deferred share bonus Barclays chief executive Bob Diamond and finance director Chris Lucas have agreed to forego 50% of their deferred share bonuses if they do not meet return on equity targets.
	Pension take up falls to lowest level since 1950's New figures from the Office for National Statistics have revealed that British workers are saving less than ever for retirement in this tough economic climate.
	One in seven to rely on state pension in retirement Prudential reveals 14 per cent of Brits have yet to grasp the importance of saving a pension and are relying on the state pension to fund their retirement.
	New state pension changes will harm young people, says IFS The Institute for Fiscal Studies claims that young people will be hit the hardest under the planned pension reforms.