Back to the original thread - I deferred taking my pension for two years and am very glad that I did as, as someone said upthread, I now get more money each week. I could have had a lump sum of about £8,000 (I think that's about what it was), but would have had to pay income tax on that, so for me, as we didn't need the lump sum, getting extra each week seemed a better bet. And, as someone else said, each time there is a percentage increase, I get that increase on the larger weekly sum.