What’s the difference between deferred pensions and normal pensions?

Author	Message
Written on: 18.11.2009 [17:38]
Luther Luther Topic creator Posts: 8	I was wondering what is the difference between deferred pensions and normal ones? How long can you defer a pension for? And under what rules?
Written on: 20.11.2009 [06:03]
Fryers Fryers Posts: 2	Deferred pension are where you agree to not cash-in your pension when you reach retirement and agree to leave it for another certain amount of years. For example if you reach retirement age at 65 but then decide you are financially secure for the next 5 years you can agree not to take your pension out and then it will continue to increase over those five years leaving you with a higher pension than if you had taken it out at 65.
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Written on: 21.11.2009 [10:48]
Kristof Posts: 3	My advice would be not to defer your pension. Read this page http://www.monetos.co.uk/pensions/non-state-pensions/increasing/deferring/ when people think they are getting a good deal you are actually losing out on money that is yours. Unless you end up living until 110 you will never get the money owed back.