State pension: Could you get an extra £500 a year for retirement? How to boost your sum

If, for example, a person receives the full state pension sum of £179.60 per week, a 52 week deferral works out as 5.8 percent as aforementioned.

This means individuals can expect to receive an extra £10.42 per week in their state pension.

Over the course of a year, or 52 weeks, this could mean an increase to the state pension sum of £541.84. 

However, the Government also states the amount a person could get may be even larger.

This is because the example assumes there is no annual increase in the state pension, and if there is, then the sum will rise.