Should you defer your state pension and stay in work?

We’re living longer, healthier lives – it could make sense to defer your state pension and continue working. We look at how it works, and the pros and cons.

Man who has reached state pension age continues to work in workshop after deferring his pension payments.
(Image credit: Kelvin Murray via Getty Images)

Seventy is the new 50, the International Monetary Fund (IMF) declared in April, in a report which found in many countries, people are not only living longer but also aging in better health – and so enjoying longer and more productive working lives.

The state pension age in the UK is currently 66. Yet 1.12 million people this age and older (9.5%) remain working, according to the UK's Annual Population Survey from last summer.

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Laura Miller

Laura Miller is an experienced financial and business journalist. Formerly on staff at the Daily Telegraph, her freelance work now appears in the money pages of all the national newspapers. She endeavours to make money issues easy to understand for everyone, and to do justice to the people who regularly trust her to tell their stories. She lives by the sea in Aberystwyth. You can find her tweeting @thatlaurawrites

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