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 (2)

Label Occurrences
New State Pension canonical 4
single-tier State Pension 1

How this entity was disambiguated

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 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 ⓘ

How these facts were elicited

Referenced by (5)

Full triples — surface form annotated when it differs from this entity's canonical label.

National Insurance contributions → linkedTo → New State Pension ⓘ
State Second Pension → replacedBy → single-tier State Pension ⓘ
linked to: New State Pension
nSP → fullName → New State Pension ⓘ
nSP → isAbbreviationFor → New State Pension ⓘ
State Pension → hasComponent → New State Pension ⓘ