These Regulations set the full rate of the new state pension by amending the State Pension Regulations 2015 (S.I. 2015/173). The Pensions Act 2014 (c.19) creates the new state pension for people reaching pensionable age on or after 6th April 2016 (see Part 1 of that Act). It replaces the existing state pension for those people. The full rate is set at £155.65 per week.