To defer or not to defer; the state pension dilemma

A recent Towry survey has found 65% of over-50s still in full time employment intend to continue to do some form of paid work during their retirement. Many individuals choose to work beyond state pension age either because of preference or necessity, and therefore the decision on whether to defer the state pension is being faced by a greater number of people. Under current rules, individuals who put off claiming their state pension will get an extra 1% for every five weeks that they defer. This income deferral rate totals a 10.4% increase annually. For someone eligible for the f...