That well head looks to be in pretty good shape. If it were my house I would just build a new pressure treated deck over top of it supported by the concrete. Should get another 50 years or so before it needs replacing again. If you intend to cover it with grass just take some measurements off the house or other fixed landmarks so you can find it and don't back a concrete truck over it by accident.
Gthomas thanks. This is what I'm going to do except if I use the concrete edge there will be a big bump in the lawn after, so I'm going to build a frame on the inside. I would have had to do some frame work anyway.
I've already gotten most of the frame lumber today. Will post pics...