Waspi women set to receive compensation under Labour

A Labour government would compensate women born in the 1950s who have been hit by the rise in the state pension age, and freeze the state pension age at 66.

Labour has promised ‘recompense’ to women born in the 1950s hit by changes to the state pension age.

In its 2019 manifesto, the Labour Party pledges to compensate women born in the 1950s for the failure of the government to adequately notify them about changes in the state pension age.

- WASPI blog: my £12,000 Labour handout should go to the NHS
Labour’s WASPI pledge: how much compensation will be received and how will it be funded?
Your essential guide to: the state pension and how the goalposts will shift in future
- Stay in the loop: sign up to our newsletter
General Election 2019: What will Labour's policies do for your personal finances?

The manifesto reads: “Under the Tories, 400,000 pensioners have been pushed into poverty and a generation of women born in the 1950s have had their pension age changed without fair notification.

“This betrayal left millions of women with no time to make alternative plans – with sometimes devastating personal consequences.

“Labour recognises this injustice and will work with these women to design a system of recompense for the losses and insecurity they have suffered.”

The Pensions Act 1995 increased the state pension age for women, bringing the qualifying age in line with men by 2020.

The government then decided to accelerate its plan to increase the state pension age in 2011.

The state pension age for women was raised last November to 65 – the same as men – for the first time.

It has been steadily rising from 60 since 2011 and in 2020 the age for both sexes will rise to 66.

Campaign groups such as BackTo60 and Women Against State Pension Inequality (Waspi) argue that many women born in the 1950s were not sufficiently warned of the changes and have suffered financial hardship as a result.

Debbie de Spon, a spokesperson for Waspi, welcomed the announcement but said that a clear framework on how it would be implemented needed to be developed.

She says: “As a campaign, we are calling for a bridging pension to provide an income from age 60 to the new state pension age, combined with compensation for those women affected who have already reached their new state pension age.

“We are pleased to see the Labour Party recognise the current hardship and make commitments to resolving it, however, this needs to go further.”

The Liberal Democrats have also pledged to compensate women born in the 1950s over state pension increases, while the Green Party has proposed the delivery of a Universal Basic Income.

Pledge on pension age rises

As part of its manifesto, Labour has also pledged to keep the state pension at 66 and not raise it in the future.

After the current state pension age rises to 66 next year, it is then due to increase to 67 by 2028, and 68 by 2039.

Labour has also promised to maintain the triple lock, guaranteeing new state pension increases by either 2.5%, average wage growth, or inflation.

However, pension experts have criticised the policies for the impact they would have on taxpayers.

Tom Selby, senior analyst at AJ Bell, says freezing the state pension age is a “gargantuan promise” from Labour with “enormous ramifications for those affected, society as a whole and long-term government spending”.

He says: “It’s also important to remember that planned state pension age increases to 67 and 68 are not just based on the last few years’ data, but decades of life expectancy improvements.

“If state pension increases are to be permanently shelved, Labour needs to explain who will pay the extra cost in the long term.”

This article was first written by our sister magazine Moneywise.

Subscribe to Money Observer Magazine

Be the first to receive expert investment news and analysis of shares, funds, regions and strategies we expect to deliver top returns, plus free access to the digital issues on your desktop or via the Money Observer App.

Subscribe now

Comments

Increased state pension

Over 82 thousand back to 60 waspi women have passed away while this injustice has been going on ,the state pension to all 1950s born women should be payed back to them in full the money payed in by them and their employers given back .its not a extra cost its money that's been taken from them.

1955 born women

Can only hope this will happen.i caught not only 5 years extra but with no information another 1 year to struggle through .

Back to 60

We need more then promises as promises mean nothing to us put in writing so we know we won't be let down once your party is in

Waspi

I'm a 65 year old Waspi.
I have been screwed over twice by the Tory Government.
I didn't receive my State Pension at 60.
I didn't receive my State Pension at 65 I have to wait until I'm 66 which will be next November 2020.
I hope other Waspi women will follow suit.
I will not be voting Conservative at this forthcoming election.
They are full of bullsh....

Back to 60

The 1950 women should be allowed to retire at 64.

Labour promises

Where is all this money coming from?
Anyone who thinks labour are going to keep all there promises live in fairy land
?

New pensioner who cannot get winter fuel allowance

Not only was I deprived of 5 years of pension with no notice, but I've just been informed that I don't yet qualify for the winter fuel payment and have to wait yet another year. This government is devoid of compassion, and we should all shut up and die quickly and quietly.

State pension age

Life expectancy, according to recent research, has now plateaued, and in some geographical areas actually dropped, so I think Labour's plan to freeze the plan to continually increase pensionable age is in fact correct.

Back to 50

Well done mr Corbyn for listening got my vote

WASPI Woman

I am sadly one of the many women who missed out on my state pension at 60 !
Since turning the age of 60 both me and my husbands health has deteriorated, sadly my husband passed away unexpectedly at the begining of this year.
I have had to continue working part time as I can't afford to live without a wage being it small now as I'm part time. I couldn't afford to pay into my works pension scheme as then you had the option, so now I'm counting the months till I can leave after giving my employers 35 years service and get my state pension .
So some kind of reimbursement would be greatly appreciated if our government can find it in their heart & conscience to help us
Thank You x

Waspi pledge from Labour

As I am one of those women aged 63 and still with two and a half yrs to go I want action not words, so would need prove it was happening before I gave my vote.

WASPI

Strange one this when courts rule Boris is out of orxet they condem him when the courts rule in favour of the government they make up the story that they failed the to notify yhe women.

The courts said they had no duty to notify them and it was their duty to find out.

Ignorance is no defence. Even my 82 year old mother new what was going on.

WASPI

Labour are not going to win the election, so stand at ease.

January 1960

Would I miss out being born just 7 days later than 1950’s

Pensions

Iv worked all my life from the age of 16years i had 3 children i had 2or 3 jobs working around my children ,i became a single Mum no choice of my own, and i worked around my children i once had 3jobs working 7days a week now i cannot get my pension till im 66 6months old im so hurt ,im looking after my 4 Grandsons for my Daughters to work go to Uni etc so when my little Grandson goes full time school year 2001 i have to go back to work age 63years old its soo 😢 Sad ,heartbreaking 💔. I did not even know i was not going to get my pension at 60 .

Pension credit injustice mixed aged couples

Even though it has cross party support, pensioners retiring with a younger partner who may be disabled (as my wife is) will no longer receive pension credit.Amber Rudd suggested claiming universal credit (working age benefit)
But the difference between the two of these benefits is £7000 p/a. No council tax support,or rent support, dentists and many others.
Please confirm that it's not just waspi's being cared for, As I am really worried

Pensions

It was totally unjust and unfair to increase the pensions age suddenly and without due notice to 50s born women. It is commendable that labour have recognised this and will certainly get my vote and many millions more as a result. Justice at last!!!

Waspi pension robbed

They wouldnt hesitate to use our tax payers money to throw at foreign aid, but they cant look after their own hard working tax paying women of this country. ?

Woman and state pension

In 1972 I was a boy working in Clyde shipyards. Men retired at 65 and we had a pot where we all put in 50p for his farewell and the yard gave him a cheap watch. Roughly 6 months later we were attending his funeral and another 50p was given to his widow who incidentally lived to the age of 80. So the lady had a state pension for 20 years, the shipyard worker had a state pension for 6 months. The woman was a loving wife and mother who treasured her husband. The man spent 50 years in a shipyard where due to the conditions lost 80% of his hearing, almost lost an arm in an accident and developed COPD. Men are often portrayed as the evil patriarch but we had it tough through industry and wars. Now equality is looming it appears some woman are not happy?

Pension

A was born in the early sixtys
And ave been hit as well where's my eqal rights
A was in a job that I couldn't afford to pay into a pension scheme when all this started

Women’s pension born in the 50’s

Will the pledge by labour to compensate & correct affected women on pension age increases be means tested I wonder????

state pension age increase

how does this pledge by labour impact on those of us who received the state pension at the age before the age of 65. For example a friend received state pension at the age of 60, whereas I had to wait until I was 62 and 8months before receiving the state pension, despite only being 8 months younger.

Disgusted by inequality

How can these campaigners say they had inadequate notice? The plan was put in place in 1995 and said the age would be "in line with men by 2020" well 2020 is less than a month away.....

If any political party pan handles to the women for votes they will lose my vote and if any party drops the age "back to 60" I as well as many other men will be raising a legal challenge for historic and direct inequality.

Pensions

May I say even though we are living longer it does not justify people over sixty are wanting to work
I am over sixty and just been made redundant working in gibralter I'm now finding it extremely hard to get another job and this is due to age discrimination
So I say lower pension age for men and women and let the youth of today take over from there on

Add new comment