Guidance

Report by the Government Actuary on the actuarially fair rate of increments for those choosing to defer their State Pension after 2016

Report by the Government Actuary on the actuarially fair rate of increments for those reaching State Pension age on or after 6 April 2016 and choosing to defer their State Pension beyond State Pension age.

Document

Details

The Department for Work and Pensions (DWP) commissioned the Government Actuary’s Department (GAD) on 17 January 2014 “to provide an update of [GAD’s] report into the actuarially fair rate of increments [for those deferring State Pension beyond State Pension age]”. This followed on from similar work produced by GAD for DWP in 2003, 2010 and 2012. The rates required are for those reaching State Pension age (SPA) in years between 2016-17 and 2026-27, that is, after the introduction of the single-tier State Pension in 2016, and deferring for between 1 and 5 years.

The report can be read at : the UK Parliament website

Published 22 July 2014