When I reached 65 I carried on working for 3 years before I drew my pension. I calculate that if I live to 80 I will be quids in and in any case I didn’t need the money then but the extra is very useful now.
I know that lots of members here are, or are planning to, defer their retirement for a few years at least. Are you going to take the state pensin as soon as you reach 65, or are you going to defer it as I did?
At 65, i went part time, and opted to get a pension, whilst i could, before the pot went dry 
What annoyed me was the fact that DWP does not notify retirees, does not automatically give you a pension, you have to apply for it, then on top of that, it is paid behind, for eg, my 65th birthday was the 8th march, the pension started on the 11th, and was paid one month behind, i suppose its in case of death, and they can withdraw the pension and be quids in…
I may retire early due to Medical. Last Doctor did lots but retired now and Nurse is not keen to fire my 100th with me 
how much is it?
truckyboy:
it is paid behind, for eg, my 65th birthday was the 8th march, the pension started on the 11th, and was paid one month behind, .
What is paid ahead then? Pension is paid in exactly the same way wages are paid, where’s the problem in that?
DadsRetired:
truckyboy:
it is paid behind, for eg, my 65th birthday was the 8th march, the pension started on the 11th, and was paid one month behind, .What is paid ahead then? Pension is paid in exactly the same way wages are paid, where’s the problem in that?
I’ve just got my paperwork. It’s giving me a start date 5 days after my 65th birthday, first payment of two weeks’ money 2 weeks after that, followed then by 4 weeks’ money every 4 weeks. So it’s in arrears just like wages. It also says that I will be paid the 5 days I’m short separately, and if I don’t receive it I should contact them. So if you didn’t get your 3 days, you’d better get on to them. As far as death goes, my brother died recently, they paid him up to the day he died.
Bernard
the trouble with deferred pensions is the tax situation . if you defer for several years and get a nice big lump sum , the tax office will add that to your pension for that year and tax the whole lot at 20% .
rigsby:
the trouble with deferred pensions is the tax situation . if you defer for several years and get a nice big lump sum , the tax office will add that to your pension for that year and tax the whole lot at 20% .
It is not a simple decision as it depends on what other income or savings you have. It you will only have the state pension then deferring it is not sensible since the higher rate may exclude you from other benefits. Fortunately I have other pensions so wouldn’t be able to claim anything.
You don’t have to take the lump sum but even after tax it pays a better interest rate than the banks do.