State Pension: Can State Pension be backdated? | Personal Finance | Finance
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State Pension is available to individuals once they reach a certain age to help with the costs of living during retirement. This payment offers a lifeline for many in their older years, but can State Pension payments be backdated?
What is State Pension?
State Pension is paid to individuals once they reach State Pension age in the UK.
The monetary payment can be given in two forms: the new State Pension and the basic State Pension.
The New State Pension is paid to men born on or after April 6. 1951, and women born on or after April 6, 1953.
The basic State Pension is given to men born before April 6, 1951, or women born before April 6, 1953.
The maximum payout for Basic State Pension is currently £134.25 per week, while the maximum payment amount for the new State Pension is £175.20 per week.
READ MORE: State pension payments will increase for married women this year
Can State Pension be backdated?
You have to actively claim State Pension, it will not automatically be paid to you.
If you start your claim in the first 12 months after you reach State Pension age, you can ask for the claim to be backdated to when your entitlement began.
However, if you begin your claim more than 12 months after you reach State Pension age, you will be treated as having deferred your pension.
This means you will get an uplift percentage for every nine weeks until you decide to claim your State Pension.
Anyone who does not want to start taking their State Pension at 66 can choose to defer it.
Doing so may lead to receiving higher weekly State Pension payments or even a lump-sum payment.
You can defer the State Pension for as long as you wish.
Those who have started drawing on their State Pension may also be entitled to defer it in order to earn extra money from it.
READ MORE: National Insurance record: How to check your National Insurance record
How to defer your State Pension
The process of deferring your State Pension is easy.
The State Pension is not given automatically instead, you must claim it.
Each eligible claimant should receive a letter no less than two months before they reach State Pension age.
This letter will outline how to claim State Pension.
If you want to defer, you do not have to do anything as your pension will automatically be deferred until you claim it.
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