State pension payments can be boosted by nearly 6% per year – can you increase yours?

State pension: Expert discusses possible 'significant increase'

State pension payments will only be awarded to those who have enough National Insurance contributions under their belt. To receive any amount, a minimum of 10 years of qualifying years will be needed.

To receive the full amount of £175.20 per week, a minimum of 35 years of contributions are needed.

However, while this is referred to as a “full” payment, it should be noted it is possible to increase payments beyond this.

Retirees have the option of deferring their state pension claims should they wish to and if this is done for a certain amount of time, the eventual payments could be boosted.

So long as state pension claims are deferred for at least nine weeks, they can be increased.

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State pensions will increase by the equivalent of one percent for every nine weeks of deferment.

This equates to just under 5.8 percent for every 52 weeks.

Under certain conditions, state pension payments can even be temporarily paused after they’ve been claimed to boost them further.

When a person is ready to receive their payments, the extra amount will be paid with the regular income.

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Additionally, the extra amounts will usually increase each year based on the Consumer Price Index.

Where a state pension has been deferred for less than a year, recipients will be able to apply for the eventual payments online, over the phone or by post.

For those who have deferred for more than a year, the Pension Service will need to be called to process a claim.

If a person moves abroad, the rules for deferring will remain the same if they move to any of the following:

  • a European Economic Area (EEA) country
  • Switzerland
  • a country that the UK has a social security agreement with (except Canada or New Zealand)

It should be noted it is not possible to build up extra state pension during any period a person gets:

  • Income Support
  • Pension Credit
  • Employment and Support Allowance (income-related)
  • Jobseeker’s Allowance (income-based)
  • Universal Credit
  • Carer’s Allowance
  • Incapacity Benefit
  • Severe Disablement Allowance
  • Widow’s Pension
  • Widowed Parent’s Allowance or
  • Unemployability Supplement

Usually, state pensions are paid into a designated account every four weeks.

Initial payments should arrive within five weeks of reaching state pension age if they’ve been claimed straight away.

Currently, the state pension age is 66 for most people, however the government has plans to increase it in the coming years.

The state pension age will reach 67 by 2028, it will then be increased to 68 by 2046.

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