According to the latest Department for Work and Pensions statistics, out of the 13 million people across Great Britain who receive state pension, approximately 66% are on the basic or old version, with only 34% benefiting from the new state pension frequently mentioned in the media.

The differences between these two schemes are substantial. A former DWP employee even warned the Daily Record that it could cause a “two-tier uprating system” due to the triple lock. The triple lock mechanism guarantees a yearly increase in the state pension based on whichever is highest among inflation, wage growth, or 2.5%.

While this boost applies evenly to the newer state pension worth up to £230.25 per week, the old-style pension has both a standard amount and potential additional top-ups which aren’t covered by the triple lock and only increase based on the inflation rate.

Basic state pension 

Everyone eligible for the basic state pension has already reached the state pension age. Eligibility criteria require men to be born before April 6, 1951, or women before April 6, 1953. More information is available here.

Additionally, eligibility depends on getting enough qualifying years of National Insurance contributions or National Insurance credits. The total number of qualifying years varies depending on the person’s situation.

Men born between 1945 and 1951 will need just one qualifying year. Those born prior to 1945 will require at least 11 qualifying years to qualify for any part of the basic state pension.

If you’re a woman born between 1950 and 1953, you’ll need one qualifying year, and if you were born before 1950, you’ll require 10 qualifying years for the basic state pension to get any of the basic state pension.

The current weekly rate of the basic state pension is £176.45, provided you meet the National Insurance criteria.

There are several top-ups available that could boost this income, depending on your situation, such as the Additional State Pension, Graduated Pension, Over 80 pension, and state pension deferral payments.

Each of these additional schemes has its own eligibility criteria and offers varying amounts. Your state pension might also be increased based on your spouse’s circumstances.

New state pension

For those reaching state pension age on or after April 2016, the new state pension system applies. A minimum of 10 qualifying years is necessary to qualify for any amount under the new state pension.

To get the full new state pension, you need 35 qualifying years on your National Insurance record. The current full amount is £230.25 per week, which totals £2,700 less annually compared to the basic pension rate.

The government has described the transition from the old to the new state pension systems, stating: “The old rules (which include basic State Pension and Additional State Pension) were complicated, making it difficult to know how much you’d get until you were close to State Pension age. With the new State Pension, people will know from a much younger age how much they’re likely to get, providing a solid base for their saving and retirement planning.”

The official Gov.uk website offers checker tools that allow you to view your National Insurance record and state pension forecast.