The UK’s Department for Work and Pensions (DWP) has shared new information about money for the WASPI campaign. In 2024, eligible women aged between 60 and 66 could get a WASPI compensation between £1,000 and £2,950. Please ready full article to understand compensation package, Expected date, eligibility and more.
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WASPI Compensation Amount:
WASPI stands for Women Against State Pension Inequality. It started when the DWP raised the women’s pension age from 60 to 65, and then to 66. The campaign argues that women weren’t given enough notice about these changes, which affected their retirement plans. WASPI is fighting for each woman to get compensation between £1,000 and £2,950.
DWP WASPI Latest Update:
Many women were told about the pension age change less than a year before retirement, leaving them little time to adjust their plans. The proposed compensation is £1,950 to £2,950, much less than the over £10,000 that WASPI had hoped for.
The PHSO has asked Parliament to intervene as the DWP has indicated it might not follow the recommended payments. This has sparked debate about the financial impact and fairness of such compensation.
These recommendations were made after research showed that women born in the 1950s weren’t properly informed about the pension changes. It’s important to note that the DWP hasn’t made a final decision or indicated it will implement these payments.
WASPI activists are pushing for about £10,000 more in compensation per woman, but the DWP hasn’t agreed to this. They have said that payments under £1,000 would be in line with previous payments.
First DWP WASPI Payment Expected:
Women affected by the pension changes should stay updated with the latest news from the DWP and WASPI. It’s not yet clear when the first WASPI payments were made.
Once the dates and procedures for the compensation are decided, this information will be available on their websites.
The DWP is currently looking at the suggestions made by the PHSO. After they finalize the eligibility criteria and compensation amounts, they’ll likely share a payment schedule.
DWP WASPI Compensation Eligibility Criteria 2024:
The State Pension age was raised from 60 to 65, and then to 66, affecting many people. The WASPI campaign, which impacts about 3.8 million women, has gained a lot of attention.
Only women born between April 6, 1950, and April 5, 1960, can get compensation according to WASPI. It’s important to note that no decisions on compensation have been made yet, and the DWP is reviewing the PHSO’s recommendations.
WASPI argues that the government didn’t communicate well about the pension age increase, leaving women with little time to change their retirement plans and causing them emotional and financial stress.
WASPI women can get compensation package:
Before summer break, the DWP is urged to create a compensation plan for WASPI women. These women, whose pension age was raised since 1995, are asking for immediate financial help.
The DWP didn’t give enough notice about the pension age changes, according to the PHSO. The pension age for women was first raised to 65, the same as men, and then to 66 for everyone.
The Ombudsman suggested a compensation of £1,000 to £2,950, even though some people want it to be higher.
The parliamentary break is expected to start on July 23, giving the DWP two months to come up with a plan for the payments to settle the ongoing dispute.
WASPI is leading a fight for justice. After reviewing the complaints, the Ombudsman asked Parliament to create a system to fairly compensate those who were wronged.