Connect with us

Hi, what are you looking for?

Right Decision NowRight Decision Now

Business

Thousands of Waspi Women Owed Payouts for State Pension Age Change

Millions of women, primarily born in the 1950s, are entitled to compensation following the government’s failure to notify them adequately about changes to the state pension age, resulting in financial hardships for many, according to a significant new report.

The Parliamentary and Health Service Ombudsman (PHSO) concluded that affected women had lost opportunities to make informed financial decisions due to the lack of communication, impacting their sense of personal autonomy and financial control.

The report recommends compensation for these failings, suggesting payments ranging from £1,000 to £2,950 per affected woman, totaling between £3.5 billion and £10.5 billion. However, the Department for Work and Pensions (DWP) is not expected to agree with this recommendation, prompting the ombudsman to seek direct intervention from MPs to approve the payments.

Rebecca Hilsenrath, chief executive of the ombudsman, criticized the DWP’s indication that it would refuse to comply, calling it unacceptable. She emphasized the urgency of establishing a compensation scheme to address the affected women’s needs promptly.

In addition to compensation, the ombudsman stressed the importance of the DWP acknowledging its failings and issuing apologies to complainants and others similarly affected.

The investigation spans over five years, examining the government’s handling of state pension changes over two decades. Changes accelerated under the Conservative-Lib Dem coalition government in 2010, catching out many women who expected to retire at 60 but were not entitled to the state pension until five years later.

The report highlights maladministration by the DWP, resulting in complainants losing opportunities for informed decisions and suffering injustice. Despite the ombudsman’s findings, the DWP’s refusal to accept them has led to the report being laid before parliament for action.

Angela Madden, chairwoman of the Waspi group, expressed frustration at the DWP’s stance, emphasizing the urgency of compensating the affected women. She noted that while the recommended compensation levels fall short of previous suggestions, all parties must commit to addressing the injustice suffered by these women.

Steve Webb, former pensions minister, urged the government to heed the ombudsman’s recommendations, emphasizing the importance of parliamentary action in addressing the issue.

Read more:
Thousands of Waspi Women Owed Payouts for State Pension Age Change

    You May Also Like

    Business

    The head of the International Monetary Fund has warned of increased risks to the stability of the financial system after weeks of banking sector...

    World News

    BEIJING — China landed an uncrewed spacecraft on the far side of the moon on Sunday, overcoming a key hurdle in its landmark mission...

    World News

    LONDON — Talks aimed at reaching a global agreement on how to better fight pandemics will be concluded by 2025 or earlier if possible,...

    World News

    SINGAPORE — Ukrainian President Volodmyr Zelensky’s unscheduled appearance at Asia’s biggest security conference dominated proceedings on Sunday after China’s defense chief slammed “separatists” in...

    Disclaimer: rightdecisionnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 rightdecisionnow.com | All Rights Reserved