114.—(1) Subject to this Act, a person who has attained the age of 65 years shall be entitled to F728[State pension (transition)] for any period of retirement where he or she satisfies the contribution conditions in section 115.

[1993 s88(2)]

(2) The periods which shall be regarded for the purposes of this section as periods of retirement shall be specified by regulations.

[1993 s88(3)]

(3) In this Chapter—

“yearly average” means, in relation to any claimant, the average per contribution year of contribution weeks in respect of which that claimant has qualifying contributions, voluntary contributions or credited contributions in the period beginning either—

(a) on 5 January 1953 in case the claimant is a man, or on 6 July 1953 in case the claimant is a woman, or

(b) at the beginning of the contribution year in which the claimant's entry into insurance occurred (where after 5 January 1953 in the case of a man, or 6 July 1953 in the case of a woman),

(whichever is the later) and ending at the end of the last complete contribution year before the date of the claimant F729[attaining the age of 65 years and where, in the case of a claim made on or after 13 July 1992, the average so calculated is a fraction of a whole number consisting of one-half or more it shall be rounded up to the nearest whole number and where it is a fraction of less than one-half it shall be rounded down to the nearest whole number;]

“alternative yearly average” means, in relation to any claimant, the average per contribution year of contribution weeks in respect of which that claimant has qualifying contributions, voluntary contributions or credited contributions in the period beginning on 6 April 1979 and ending at the end of the last complete contribution year before the date of the claimant F730[attaining the age of 65 years and where, in the case of a claim made on or after 13 July 1992, the average so calculated is a fraction of a whole number consisting of one-half or more it shall be rounded up to the nearest whole number and where it is a fraction of less than one-half it shall be rounded down to the nearest whole number.]

[1993 s88(4); 1997 s35 & Sch G]

(4) In this Chapter, “relevant person” means—

(a) a person who first becomes—

(i) an insured person by virtue of section 12(1) insured for F731[State pension (contributory)] purposes, or

(ii) an insured person by virtue of section 20,

on or after 6 April 1991,

or

(b) a person who fails to satisfy the contribution condition in section 115(1)(c) and had periods in which he or she had been—

(i) employed mainly in one or more of the employments in respect of which employment contributions at the rate specified in Article 81(2)(a), 82(2)(a) or 83(2)(a) of the Regulations of 1996, and

(ii) an employed contributor, a self-employed contributor or a voluntary contributor, in respect of whom contributions, reckonable for the purposes of the contribution conditions for entitlement to F731[State pension (contributory)] were paid in respect of or credited to him or her.

[1993 s88(5)]

(5) For the purposes of this Chapter, in the case of a relevant person “entry into insurance” means in relation to any person the earlier of the following 2 dates—

(a) the date on which the person first becomes an insured person by virtue of section 12(1), except where he or she becomes an insured person by virtue of paragraph (b) of section 12(1) only, or

(b) the date on which he or she first becomes an insured person by virtue of section 20,

and that that date shall be regarded as the date of entry into insurance for the purposes of section 115(1)(a) and (c).

[1993 s88(6)]

(6) Notwithstanding subsection (5), regulations may provide that the date on which a relevant person first becomes an employed person or a self-employed person, insurable for F728[State pension (transition)] purposes under the legislation of another Member State, or under the legislation of any other state with which the Minister has made a reciprocal arrangement under section 287, may be regarded as the date of entry into insurance.

[1993 s88(7)]

(7) Notwithstanding subsections (5) and (6), regulations may provide that where a date of entry into insurance occurs before a date to be prescribed, that day may be regarded as the date of entry into insurance.

F732[(8) The amount payable by way of F728[State pension (transition)] for any day on or after which a person has attained the age of 65 years but before the day on which the person first receives payment of F728[State pension (transition)], shall be one-seventh of the appropriate weekly rate, subject to the total amount being paid at any time under this subsection being rounded up to the nearest 10 cent where it is a multiple of 5 cent but not also a multiple of 10 cent and being rounded to the nearest 10 cent where it is not a multiple of 5 cent or 10 cent.]

F733[(9) Notwithstanding the provisions of this Chapter, State pension (transition) shall not be payable to a person who attains the age of 65 years on or after 1 January 2014.]