C1C2C3PART 1STATE PENSION

Annotations:

State pension at the full or reduced rate

I1I23Full and reduced rates of state pension

1

The full rate of the state pension is the weekly rate for the time being specified in regulations.

2

The reduced rate of the state pension for a person is the following proportion of the full rate—

1 35 × the person's number of qualifying yearsmath

.

3

Once the full rate has been specified, the power to make regulations under subsection (1) may not be re-exercised so as to reduce the rate.