# Pensions Act 2014, Paragraph 2


A person's amount for pre-commencement qualifying years is calculated as follows.
Step 1 - calculate the person's pension under the old system Calculate the weekly rate based on the old state pension and graduated retirement benefit (see paragraph 3 for more about this).
Step 2 - calculate a pension based on the new system Calculate the weekly rate based on the new state pension (see paragraph 4 for more about this).
Step 3 - take whichever rate is higher (the foundation amount) Take whichever of the rates found under Steps 1 and 2 is higher.
Step 4 - revalue to date when the person reached pensionable age Revalue the amount of that rate in accordance with paragraph 6.
The amount for the person's pre-commencement qualifying years is the amount as revalued under Step 4.

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Source: https://www.legislation.gov.uk/ukpga/2014/19/schedule/1/paragraph/2 (the official version)
Page: https://openlegislation.uk/pensions-act-2014/schedule-1/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.