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State Pension UK: Pensioners may be able to increase their sum by £500 with this action | Personal Finance | Finance


The State Pension is available to individuals who are born on or after particular dates and have a set number of National Insurance contributions. The new state pension, as outlined by the government, can be claimed by men born on or after April 6, 1951 and women born on or after April 6, 1953. However, it is worth noting the state pension sum can vary from person to person.

The state pension for those who reached an eligible age on or after April 6, 2016, will increase every week a person delays receiving it.

This is the case as long as the sum is deferred for at least nine weeks.

The government website explains: “Your state pension increases by the equivalent of one percent for every nine weeks you defer.

“This works out as just under 5.8 percent for every 52 weeks. The extra amount is paid with your regular state pension payment.”

Therefore, if a person receives the full state pension at £175.20 per week, by deferring for 52 weeks, they will receive an extra £10.16 weekly.

Across a year, then, this could mean an increase of £528.32, which may prove particularly useful in retirement.

However, this calculation does not take into account annual increases in the State Pension.

If there is an annual increase, which usually happens under the Triple Lock Mechanism, then the amount a person receives could end up being larger. 

The Triple Lock Mechanism ensures the state pension rate will rise by whichever is the highest of 2.5 percent, the rate of inflation, or average earnings growth.

In April, the state pension sum rose by 3.9 percent in line with average earnings growth.

For those who are looking to defer a star pension, the process is easy to enact.

To receive state pension in the first place, the sum must be actively claimed, so by doing nothing at all when reaching state pension age, the entitlement will be automatically deferred.

When a person decides they would now like to receive their state pension, they will need to make a formal claim.

The quickest way to do so is through the government website if deferring for a year or less.

People can also apply via the phone, or download the state pension claim form to send off to their nearest pension centre.

But for those who have deferred for more than a year, a call to the Pension Service will need to be made.

The new state pension is traditionally paid once every four weeks into the account of a pensioner’s choice. 

Britons are paid in arrears, meaning they will receive payment for the last four weeks, rather than the coming four weeks. 



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