SCHEDULES
SCHEDULE 1TRANSISTIONAL RATE OF STATE PENSION: CALCULATING THE AMOUNT
PART 2AMOUNT FOR PRE-COMMENCEMENT QUALIFYING YEARS
Step 2: calculation of a pension based on the new system
4
1
For the purposes of Step 2 of the calculation in paragraph 2, the weekly rate based on the new state pension is as follows.
2
If the person has 35 or more pre-commencement qualifying years, the rate is equal to—
a
the full rate of the state pension on 6 April 2016, less
b
any amount to reflect contracting out under the old system (see paragraph 5).
3
If the person has fewer than 35 pre-commencement qualifying years, the rate is equal to—
a
the appropriate proportion of the full rate of the state pension on 6 April 2016, less
b
any amount to reflect contracting out under the old system (see paragraph 5).
4
The “appropriate proportion”, in relation to a person, is—
.