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When you reach state pension age the Government gives you the option to delay taking your state pension, with the promise of a bigger future pension or a lump sum. Assuming you don't need the income now, is delay worthwhile? Use our calculator to get a clearer idea, assuming you opt for an increased pension.

To make a fair comparison, the calculator assumes that the non-delayed pension is saved/invested up to the point the delayed pension is taken. All figures are deemed to be net of inflation, i.e. in today's prices. Your spouse may qualify for some of your extra pension if they outlive you, the calculator does not take this into account. Applies to the new state pension from April 2016.

State Pension Delay Calculator
Age your state pension is due to start ? years old
Your state pension at that age will be ? £ per week
How long will you delay taking your state pension? years
What is your sex?
Expected annual investment return ? %

Assumes a fixed annual savings/investment return, in practice this may vary. Calculations based on current rules, these may change in future.

Calculations are estimates provided for illustrative purposes only. Candid Money Limited accepts no liability whatsoever for their subsequent use.

Go to Calculators Homepage.