It is noted that the average age for pensioners is 67 years old, but if an individual waits to apply for a pension beyond that time, then they can apply for their right up to two years back. If an individual does not apply for his/her right back in time, then his/her rights have not been cancelled, but he/she will enjoy a permanent increase in his/her rights in return for the time that the pension has been deferred. In addition, an early retirement pension can be applied for from 65 years old, in return for a permanent reduction in rights.