How about working after Retirement Age?

Socketset:
Deferring your pension is madness - just a con by the government.

Think about it - pension is about 8k a year - defer it say for two years 16k.

Enhanced pension is what, say an extra £20 a week divide that into 16k…

You would have to live 'til you’re about 82 before you break even.

No, claim it and salt it away - savings account whatever.

If the worst happens and you die before you claim it then the government is laughing and your loved ones have nada.

Grab it while you can at least it’s there stashed even if you don’t need it to live on.

When I reached 65 (then pension age) I decided to defer. I had to take a punt on my life expectancy, but both my parents lived well into their 90s so I thought it looked pretty good to defer. Also, note that NI is not payable after pension age which gives you an automatic 10% (or so) pay rise. My calculation at the time was that by deferring for two years I would need to live to 80 to “win”, but that was based on interest rates above 3% compared with the 1 or 2% that has ruled over the last decade.

My current state pension is £248.26 a week, but it is based on the pre-2016 rules. Of course, I also have another pension which makes me reasonably comfortable.