Jason Sheds a Light on Why So Many Women Are Unhappy With WASPI - With Esther Shaw At The Daily Telegraph
The original article was published in Telegraph Money on 21st March 2024, but is only available to Daily Telegraph subscribers. As part of our mission to empower as many people as possible to make better financial decisions, we have published below all the information Jason shared with them, so you get the maximum benefit from it (not just from what was published).
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WHAT'S THE BIG ISSUE?
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The main area of grievance is around the way that the equalisation of male and female State pension ages was communicated and implemented. This goes back to the 1995 State Pension Act, which included plans to increase women’s state pension age from 60 to 65, in line with men’s at the time.
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WASPI agrees with the equalisation of ages, but feels that women born in the 1950s were not given sufficient notification of the changes and have thus suffered financial hardship, with insufficient time to change their retirement planning.
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Many people rely heavily on the State pension for their retirement provision and it is those women who were hit hardest as there was little time to make alternative plans.
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Full details can be found here:
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WILL WE SEE A REDRESS SCHEME?
MP Alan Brown recently proposed a new Bill that the government give compensation pay-outs of £10,000 or more to the estimated 3.8 million women affected by the state pension age change.
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WILL THE DWP FIGHT ANY SUCH RECOMMENDATION?
The DWP is cooperating fully with the Ombudsman’s investigation and will carefully consider any findings that arise from the final report.
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GET IN TOUCH
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