Deferred state pension lump sum will be "invisible", says Bee

According to Steve Bee, head of pension strategy at Scottish Life, the government's suggested amendments will in effect make the lump sum "invisible" for most people when claiming benefits such as the Pension Credit. The Bill proposes people deferring their state pensions will now, in addition of receiving an increased benefit entitlement from a later date, also be able to take the money as a lump sum if they defer their benefits for at least a year. Furthermore, it will most likely NOT affect the majority of retirees applying for other benefits, suggests Bee. The DWP stated in i...