Budget: Deferred state pension could be taken as lump sum from 2005

Furthermore, deferral will NOT count against most pensioners when calculating their entitlements to other benefits. For example, the lump sum will be treated as 'invisible' when calculating retirees' rights to housing and council tax benefits. Adding to that, people still working will not see their deferred lump sums taken into account when calculating eligibility for work and child tax credits. The Budget also reveals the Pension Credit, introduced by the government in October last year, will be strenghtened by extending the backdating provision. This means pensioners successfull...