'I'm £400 out of pocket after waiting eight months for my deferred state pension'

In 2023-24, the new state pension is £203.85 a week and the basic state pension is £156.20 a week, however, not everyone gets this amount.

But, anyone can boost their state pension by not claiming it the day they reach 66.

Every week delayed means a bit more pension when someone chooses to retire.

A report by the Institute of Fiscal Studies (IFS) found that one in six working pensioners has deferred claiming their pension.

On the BBC Money Box podcast, Helen Morrissey, senior pensions and retirement analyst at Hargreaves Lansdown explained how much one may get for deferring their state pension.

For those reaching state pension age on or after April 6, 2016 they will get an increase every week they defer, as long as they defer for at least nine weeks.

Their state pension increases by the equivalent of one percent for every nine weeks they defer. This works out as just under 5.8 percent for every 52 weeks - which is £11.82 a week.

On current figures, a one-year deferral would net someone an extra £614 a year on their state pension, for life.

It should be noted that to get this, savers will have given up £10,600 in state pension that they could have claimed in the first year.

However, this is less generous than those on the basic state pension who reached state pension age before April 6, 2016.

The basic state pension will increase by one percent every week someone defers, as long as they defer for at least five weeks.

This works out as 10.4 percent for every 52 weeks. The extra amount is paid with one's regular state pension payment.

Karen from London, has been struggling to get her extra money after deferring her state pension.

Before claiming her state pension, she realised the DWP hadn't included her deferral amount and tried to get in contact with them.

She started her enquiries in March this year, and eight months later is she still waiting for her extra state pension.

Karen is out of pocket about £400 which is a substantial amount, especially in the economic climate.

Ms Morrissey continued: "That's hugely challenging. I would say the best way forward is to complain to the pension service.

"it sounds like she's not hearing back from anyone at all. If you contact the pension service they need to get back to you within seven working days so that could be her next option."

However, it’s important to be aware that any extra payments which are gained via deferrals could be taxed.

This is because the state pension is a form of taxable income, so if the amount exceeds a person’s personal allowance, they will need to pay tax on anything above the threshold. The standard personal allowance is currently £12,570.

BBC Money Box contacted the DWP for comment, however they said they had not yet had time to look at the case.