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State Pension deferral - taking up your State Pension later
When you reach State Pension age you don't have to claim your State Pension straight away. You may not need the income from your State Pension immediately because, for example, you intend to carry on working.
State Pension deferral simply means putting off claiming your State Pension when you reach State Pension age, or choosing to stop claiming it after you have already claimed it. This allows you to build up extra income or a taxable lump-sum payment.
You can claim State Pension while you carry on working. Your earnings will not affect the amount of State Pension you get but, as State Pension counts as income for tax purposes, claiming State Pension may affect the amount of tax you have to pay.
More information
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Age legislation - information for employers and individuals
Date: 12 Jul 06
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