Pensions Act 2014
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Change 1
5 Transitional rate of state pension
(1) The transitional rate of the state pension for a person is a weekly rate equal to— (a) the sum of the amounts calculated under Schedule 1 for the person's pre-commencement and post-commencement qualifying years capped at the full rate of the state pension on the day on which the person reaches pensionable age, or (b) if higher, the amount for the person's pre-commencement qualifying years alone. (2) The transitional rate of the state pension for a person is to be increased from time to time in accordance with the applicable paragraph of Schedule 2. (3) Section 6 requires the transitional rate of the state pension for a person to be recalculated in certain circumstances. (4) There are special rules about the transitional rate for certain women: see section 11 (reduced rate elections).
5 Transitional rate of state pension
(1) The transitional rate of the state pension for a person is a weekly rate equal to— (a) the sum of the amounts calculated under Schedule 1 for the person's pre-commencement and post-commencement qualifying years capped at the full rate of the state pension on the day on which the person reaches pensionable age, or (b) if higher, the amount for the person's pre-commencement qualifying years alone. (2) The transitional rate of the state pension for a person is to be increased from time to time in accordance with the applicable paragraph of Schedule 2. (3) Section 6 requires the transitional rate of the state pension for a person to be recalculated in certain circumstances. (4) There are special rules about the transitional rate for certain women: see section 11 (reduced rate elections).
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