# Pensions Act 2014, Section 3: Full and reduced rates of state pension

Extent: E+W+S

(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 years.
(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.

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Source: https://www.legislation.gov.uk/ukpga/2014/19/section/3 (the official version)
Page: https://openlegislation.uk/pensions-act-2014/section-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.