Many people are unaware of this way to increase your State Pension payments (Image: Getty)

People nearing retirement could increase their pension by nearly £700 annually, but many are unaware of this possibility. According to the Department for Work and Pensions (DWP), a significant number of people don't know they can postpone claiming their State Pension, which could lead to a higher income during retirement.

As reported by the Daily Record , retirement specialist Just Group analysed the data and discovered that two-thirds (66 per cent) of those aged 40-65 were not aware they could delay taking the State Pension beyond the State Pension age. Of the 34 per cent who did know they could delay, a third (33 per cent) were unsure what the impact of deferring would be on their regular p

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