A deferred pension is a type of pension plan where you delay accessing your pension until later in your retirement. By deferring your pension, you can potentially increase your future retirement income. Most modern workplace and personal pensions are defined contribution pensions, which means that if you defer a defined contribution pension, there is potential for your savings to continue growing as your money will be invested for longer. When you defer a pension, you can either continue making contributions or stop paying into your pension. If you choose to keep paying into your pension, you can continue receiving tax relief on contributions until the age of 75, up to £60,000 a year (2023/24) in contributions. If you have a defined benefit or final salary pension, youll need to check whether deferring your pension forfeits any income guarantees and benefits you stand to gain.