Transitional rules explained: From the old Basic State Pension to the New State Pension

by | Jan 10, 2023 | Retirement Pension | 3 comments

Transitional rules explained: From the old Basic State Pension to the New State Pension




The new state pension replaced the basic and additional state pension for those who reach State Pension Age on or after 6 April 2016. I’m going to explain how your entitlement to the new state pension is calculated and what happens if you’re in the fortunate position where your state pension benefits are projected to exceed the amount of the new state pension. I will also explain how you can ensure you receive the full new state pension, if you’re currently projected to fall short.

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3 Comments

  1. av4u

    Justin I am 66 in March 2023 and my state pension has 47 qualifying years and the estimate of my pension is £223.45 a week
    how is this?

  2. Justin King Retirement Income Financial Planner

    How is my entitlement to the new state pension calculated? And what happens if a) my state pension benefits are projected to exceed the amount of the new state pension? And b) how can I ensure I receive the full new state pension, if I’m currently projected to fall short?

  3. Jane Knight

    Very important for us ladies you cannot top up the tax year in which your 66th birthday falls.

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