small pension due but still working, defer?

A question about : small pension due but still working, defer?

I have a small pension from a former employer which I shall be able to get from October when I am 60. However I can't afford to retire before I get my state pension at age 66. However I can manage on what I earn so am thinking of deferring the works pension. It was a combination of final salary and defined contribution and should be worth about Ј1500 a year if I take it at 60 and I would have to pay tax it. I have enquired and can defer it. Should I do so or take the money now as annuities may get even worse. Or should I just take out the 25% I can take without paying tax?
I must comment that the new rules have made things complicated for ordinary folk who don't earn much and don't have the benefit of paid advisors. It seems that the rich are most likely to benefit from them.
thanks in advance

Best answers:

• While annuitiy rates (for the DC part) may get worse, you would be older if you leave it longer.
  Also the final salary part is not an annuity, but depends on your pay while you were employed.
  There will be other considerations that others here can / will flag up
• Phew! Yes Missu, it was rude, but if I express an opinion I can expect to be shot down for it.
  In the end as an adult I have to make my own mind up, but I was interested to see what people thought.
  Actually I have asked for an estimate of what I would accrue if I defer. This is a firm I left in 2000 and the pension was deferred, but I was wondering whether to defer it further, which I can do till age 75. It was unusual in that it combined the 2 types of pension.
  I know MSE is all about wheeling and dealing to find the best prices and in the current world we have to do it to make the most of our money. However, not everyone has the internet, has good enough maths to understand percentages, interest rates etc. or a relative or friend to help them. These people are at a disadvantage in the current climate and vulnerable to the unscrupulous Rich people can pay for help, poor people can't. Complicated systems also end up costing a lot more to administer and the people who are loyal to banks and energy firms usually end up paying for it.
  By keeping things simple you are not being patronizing but actually making it more possible for the less able to manage their own affairs.
• Usually there is no benefit for delaying payment of a final salary scheme past the normal retirement date. You just lose payments.