To defer or not to defer

[Rapido123]

Hi, if you leave Royal Mail employment do you lose out in any way if you defer your 60 and 65 benefits rather than take them immediately. Just checking out everything, thank you

[Hitcher]

Deferring them won't boost them as they're designed to be taken at 60 and 65.

[Gary55]

Definitely don't defer nra 60 as o don't believe it's backdated. Not sure about nra65

[RobertT]

There's pros and cons with taking your pension early, but no benefit whatsoever in not taking it at NRA!

If you take your benefits before Normal Retirement Age, they'll be reduced for early payment.
If you don't take them at NRA, you lose what you would have got during that time. So if you were to take your Age60 at 62 for example, you would lose those 2 years of pension. The same would apply with Age65 benefits taken after 65.


*There is no specific ability to defer your benefits, and if you asked the RMSPS and RMPP to do so they'd probably say you can't. But there have been cases of people who've effectively done so by not sending back their option forms, or not informing the pensions people when they move house(forms get sent to old address).