How Much Compensation Are WASPI Women Likely to Get?
The WASPI (Women Against State Pension Inequality) campaign represents millions of women born in the 1950s who were impacted by changes to the State Pension Age (SPA). Many of these women were not properly notified of the pension age increase, which left them financially unprepared and unable to adjust their retirement plans.
The compensation that WASPI women are likely to receive is still under discussion, but here are the current proposals:
1. Ombudsman’s Recommendation (Level 4)
The Parliamentary and Health Service Ombudsman (PHSO), after investigating the issue, has recommended that affected women receive a payout between £1,000 and £2,950. This amount is meant to acknowledge the financial and emotional distress caused by the inadequate notice given to women about the pension age changes.
2. Campaigners' Demand (Level 6)
WASPI campaigners are pushing for a significantly higher compensation of over £10,000. They argue that the financial hardship and stress endured by the women were far more severe than the Ombudsman's recommendation reflects. The campaign believes a higher payout would be more appropriate for the impact these changes had on their lives.
3. DWP’s Position (Level 3)
The Department for Work and Pensions (DWP), however, has proposed a much lower payout, ranging from £500 to £950. The DWP believes that this range aligns with previous compensation cases involving government errors, although many women feel this does not fully compensate for the damage caused by the SPA changes.
When Will the Decision Be Made?
The final decision on WASPI compensation is still pending. Although the Ombudsman has made its recommendation, the government has yet to confirm the compensation amounts. Campaigners are urging the government to finalise this decision soon, with many hoping for payouts to begin in 2024.
In the meantime, WASPI women can use the WASPI Compensation Calculator to estimate the financial loss they may have experienced due to the changes. The calculator helps provide a clearer picture of what each individual could potentially receive once the final decision is made.
As we await the government's decision, it’s crucial to stay informed and continue supporting the ongoing efforts to secure fair compensation for all women affected by these pension changes.
