# Pensions Act 2014, Paragraph 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—
1 35 × the person's number of pre-commencement qualifying years.

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Source: https://www.legislation.gov.uk/ukpga/2014/19/schedule/1/paragraph/4 (the official version)
Page: https://openlegislation.uk/pensions-act-2014/schedule-1/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.