I am approaching normal retirement age but do I have to take my pension?

You can choose whether to claim your pension from age 60 or to defer it for at least six months and earn a bonus pension increase of 8% for each year it is deferred. This increase is in addition to annual pension increases which are also applied to your pension. If you do not elect to defer payment of your pension within 6 months of reaching age 60, the option lapses.