State Pension: Anger as benefit of deferral cut by 50%

State Pension: Benefits for deferral cut by halfThe Government has announced that from April 2016, the increased State Pension given to people who decide to defer retirement will be cut by almost 50%. Currently, people who defer taking their State Pension can choose to receive a higher income when they do finally retire, or receive a lump sum. The existing rules mean that people who defer, will get an extra 10.4% added to their State Pension each year, when they finally take the it, for every 12 months they defer. Alternatively, for ...