Delaying pension

[Tkydon]

The Rational Reminder YouTube channel recently made a video on this topic.

https://m.youtube.com/watch?v=C66FqW4Bmyc

It was very interesting, and changed my mind on this topic. Worth a watch if you’re unsure about delaying your pension or not. It’s Canadian based, but it seems to be very similar to how it’s done in Japan (8.4% increase per year, 42% increase if you delay until 70).

Yes, I plan to pay voluntary contributions from 60 to 65 to get my Total Months up to the maximum possible for me (still not 480), then delay no further.

And if I don't immediately need the money, it'll go straight into NISA and be forever more tax exempt...

Also, a thought I had. I think many of us here are married to a Japanese wife. With how long women in Japan live, and the lack of survivors pension after 65, it may be a good idea to take your pension at 65 or 70, and have you wife delay taking her pension until 75. It will leave her with an extra 84% on her pension.

That's an interesting one. I hadn't thought of that.

[Beaglehound]

Also, a thought I had. I think many of us here are married to a Japanese wife. With how long women in Japan live, and the lack of survivors pension after 65, it may be a good idea to take your pension at 65 or 70, and have you wife delay taking her pension until 75. It will leave her with an extra 84% on her pension.

That's a good point, thanks.