New State Pension
E119111
The New State Pension is the UK’s flat-rate, earnings-related retirement benefit introduced in 2016 to simplify and replace the previous basic and additional state pension system for people reaching State Pension age on or after that date.
All labels observed (1)
| Label | Occurrences |
|---|---|
| New State Pension canonical | 1 |
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
public pension
ⓘ
social security benefit ⓘ state pension system ⓘ |
| administeredBy | Department for Work and Pensions ⓘ |
| appliesToCohort | people reaching State Pension age on or after 6 April 2016 ⓘ |
| appliesToJurisdiction |
England
ⓘ
Northern Ireland ⓘ Scotland ⓘ Wales ⓘ |
| benefitType |
contributory benefit
ⓘ
non-means-tested benefit ⓘ |
| canBeIncreasedBy | deferring State Pension claim ⓘ |
| coexistsWith | old State Pension for people who reached State Pension age before 6 April 2016 ⓘ |
| country | United Kingdom ⓘ |
| eligibilityCriterion |
having at least 10 qualifying years of National Insurance contributions or credits
ⓘ
reaching State Pension age on or after 6 April 2016 ⓘ |
| fullRateRequirement | 35 qualifying years of National Insurance contributions or credits ⓘ |
| hasOnlineForecastService | true ⓘ |
| hasTransitionalArrangements | true ⓘ |
| indexedBy | triple lock ⓘ |
| informationProvidedBy | GOV.UK ⓘ |
| introducedByGovernment |
Conservative–Liberal Democrat coalition government
ⓘ
surface form:
UK Conservative–Liberal Democrat coalition government
|
| isBasedOnPartnerContributions | false ⓘ |
| isEarningsRelated | true ⓘ |
| isFlatRate | true ⓘ |
| isIndividualBenefit | true ⓘ |
| isMeansTested | false ⓘ |
| isPartOf | UK social security system ⓘ |
| isTaxable | true ⓘ |
| legislatedBy | Pensions Act 2014 ⓘ |
| payableFrom | State Pension age ⓘ |
| paymentFrequency | weekly ⓘ |
| paymentMethod | bank account payment ⓘ |
| paysLessThanOldSystemFor | some high earners who built up large additional State Pension ⓘ |
| paysMoreThanOldSystemFor | many low and middle earners with full contribution records ⓘ |
| pensionAgeLinkedTo | State Pension age ⓘ |
| purpose |
to replace the basic and additional State Pension for new pensioners
ⓘ
to simplify the UK State Pension system ⓘ |
| replaced |
Additional State Pension
ⓘ
Basic State Pension ⓘ State Second Pension ⓘ |
| requires | National Insurance record ⓘ |
| shortName | nSP ⓘ |
| startTime | 2016-04-06 ⓘ |
| upratingLinkedTo |
2.5% minimum increase
ⓘ
earnings growth ⓘ price inflation ⓘ |
| uses | starting amount calculation based on old and new rules ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.