If you reached State Pension age on or after 6 April 2016, deferring your New State Pension can increase it by 1% for every nine weeks you defer, equivalent to about 5.8% for a full year. You generally need to defer for at least nine weeks, and the higher amount is paid when you eventually claim; it is taxable. The New State Pension rules do not usually offer a lump-sum option for deferral. Check your position and possible effects on means-tested benefits on GOV.UK, as the outcome depends on your circumstances.