State pension deferrals: 42,000 who postponed took benefit in 2023/24

FoI request from provider Royal London

Jenna Brown
clock • 3 min read

Just under 42,000 people who had previously delayed taking their state pension took up the benefit option in 2023/24, official data showed.

A freedom of information request (FoI) from Royal London showed 41,938 people claimed a previously deferred state pension in 2023/24, with higher payments as a result. It added that the figure was down by more than a fifth (22%) on the previous year, when it stood at 54,037. The provider said that, according to the data, just over 10,000 people had postponed their state pension for five years or more. While 4,435 delayed by ten years or more. Royal London said the average deferral rate was four years, "giving those who deferred for this length of time up to approximately £50 extra ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

 Rachel Vahey: Advisers and clients still need clarity on NMPA increase

Rachel Vahey: Advisers and clients still need clarity on NMPA increase

'HMRC has had years to clear this up but has sat on its hands'

Rachel Vahey
clock 11 March 2026 • 4 min read
Pension freedoms exposed a longevity problem we still refuse to confront

Pension freedoms exposed a longevity problem we still refuse to confront

'The gap between product complexity and consumer understanding is not narrowing'

Julia Fintz
clock 11 March 2026 • 4 min read
Complex Hartley Pensions administration continues amid 'misappropriated funds' investigation

Complex Hartley Pensions administration continues amid 'misappropriated funds' investigation

Administration expected to conclude in 2027

Isabel Baxter
clock 10 March 2026 • 3 min read