Royal London, via a Freedom of Information request, reported that 4,435 people delayed claiming the contributory benefit by 10 years or more, while 591 had not claimed their State Pension 20 years or more after becoming entitled to it. The average length of the 25 longest deferred claims was 32 years, with these 'super-postponers' initially becoming eligible during 1991/92, when the qualifying age was 65 for men and 60 for women. The average deferral period was four years, giving those who held off for this length approximately £50 extra per week, according to Royal London.
8 per cent per year. 4 per cent extra a year, which they received for the entire duration of their delay, the Daily Record reported. From April this year until 2028, the State Pension age will rise to 67 for those born between March 6, 1961 and April 5, 1977, who can claim the New State Pension on their 67th birthday.
People typically delay claiming their State Pension for one of two reasons: to receive extra income from their State Pension when they claim, or to reduce the amount of taxable income they’re currently receiving. Putting off claiming the State Pension can be a better option for someone who’s a higher rate taxpayer, but those opting to defer under the current system may not survive long enough to recover the money they forfeited, particularly if they are basic rate taxpayers. 72 extra per year before the boosts, but for the year they deferred, they will have missed out on almost £12,000 of State Pension.