Payment of deferred benefits at or after Normal Pension Age

If you do not take early payment of deferred benefits, your deferred benefits will be paid from your Normal Pension Age unless you opt to delay payment beyond that age.

 

If you draw your deferred benefits after your Normal Pension Age your pension will be increased by 0.010% for each day payment of your pension is delayed beyond your Normal Pension Age.

 

 

However, if your pension is not in payment at age 60 (women)/65 (men), the Guaranteed Minimum Pension (GMP) element (if any) of your pension must be paid from that date (unless you are still in some employment at that time and consent to postponement of payment of your GMP).