Women born between two dates could get up to £10,000 pension compensation under new law in WASPI latest

Women born between two dates could get up to £10,000 pension compensation if a new law is approved by Parliament.

Women born in the 1950s were told they would have to wait longer for their state pension when changes to the state pension age to equalise it across genders were accelerated in 2010.

The Women Against State Pension Inequality (WASPI) campaign argues the change was implemented in an unfair way with inadequate notice.

In March 2023, Sunderland City Council voted through a motion backing the campaign.

At that point, the motion stated around 18,000 of the women affected by state pension changes are from Sunderland, with a total of 65,000 in the North East.

Now SNP MP Alan Brown has introduced a Bill which, if passed, requires the Government to publish proposals for a compensation scheme for women born between April 6, 1950, and April 5, 1960, who were affected by increases in the State Pension Age. Compensation of up to £10,000 per person is proposed.

The State Pension Age (Compensation) Bill’s second reading stage was listed for Friday April 19, 2024, but it will be unlikely to progress through Parliament without the Government’s support.

Mr Brown said: “The lack of resolution for the 3.8 million is a disgrace – 3.8 million women given the bombshell that their state pension age was going to increase to 66 just as they were about to retire and it was too late to do any proper financial planning.”

He added: “Parliamentary intervention will probably be required to force the Government’s hand and the purpose of this Bill is to bring forward parliamentary intervention to stop these affected women from having to wait any longer.”

He told MPs: “It’s a practical resolution. It doesn’t result in astronomical sums of money per person. It’s not asking for a reversal of the pension age to 60.

“It’s not full restitution of pensions for those who are affected by the maladministration, no matter how nice an outcome that would be.

“The Waspi women understand there’s no blank cheque from the Treasury, and they are practical and they want to get on.”