State perks for working beyond 65 are slashed

Sarah Coles
Mature woman pressing hands to sides of her head
Mature woman pressing hands to sides of her head



Anyone who reaches retirement age after April 2016 will see the potential boost from working longer almost halved. At the moment, if you decide to put off claiming your state pension for a year, you'll get your annual income boosted by 10.4%. From 2016, that will be reduced to just 5.8%.

This could leave some people more than £100,000 worse off.%VIRTUAL-SkimlinksPromo%