I had a company go bust in my mid-forties and it ten years to sort out the mess with the scheme members losing out badly as solicitors, fund managers and administrators took their wedge.
I looked at delaying my state pension but the payback time was 17 years, i.e. more than the average lifespan!
My advice is take the state pension at 65 and look at the company pension options. Two companies I worked for had an IFA linked to the scheme and their advice was dubious, and one made you check for your ring and watch after shaking hands!