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State pensioners could net an extra £694 on their Department for Work and Pensions ( DWP ) state pension. Discussing whether deferring was a viable option for retirees, Money Saving Expert says as long as you defer for at least nine weeks, then your weekly state pension will increase.

For every 9 weeks you defer, you'll get an extra 1%, which is around an extra £2.30 a week. If you defer for a full year, you get 5.8% extra, which is £13.35 a week.

The site, founded by BBC and ITV star Martin Lewis, says on current figures, a one year deferral would net you an extra £694 a year on your state pension, for life.

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