Many people are not aware that the option is open to them, according to the Department for Work and Pensions

Brits approaching retirement could boost their pension by almost £700 a year. However, many people aren’t aware that this is possible.

Data from the Department for Work and Pensions ( DWP ) suggests that a significant number of people are unaware they can defer claiming their State Pension, which could result in a higher income during retirement. As reported by the Daily Record , retirement specialist Just Group analysed the data and found that two-thirds (66 per cent) of those aged 40-65 were not aware they could delay taking the State Pension beyond the State Pension age .

Of the 34 per cent who did know they could delay, a third (33 per cent) were unsure what the imp

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