Close Menu
The Business TimesThe Business Times
  • Home
  • News
  • Business
  • Finance
  • Economy
  • Markets
  • Investing
  • Real Estate
  • Crypto
  • Fintech
  • Forex
  • More
    • Politics
    • Web Stories
    • Spotlight
    • Press Release
What's On
Annaly Capital Management, Inc. (NLY) Q4 2025 Earnings Call Transcript

Annaly Capital Management, Inc. (NLY) Q4 2025 Earnings Call Transcript

29 January 2026
BREAKING:  Emma Raducanu axes ANOTHER coach as Brit puts out statement after Australian Open jibe

BREAKING: Emma Raducanu axes ANOTHER coach as Brit puts out statement after Australian Open jibe

29 January 2026
GMB’s Ranvir Singh is ‘full of joy’ in flattering pink jumpsuit– get £40 off her exact look

GMB’s Ranvir Singh is ‘full of joy’ in flattering pink jumpsuit– get £40 off her exact look

29 January 2026
ONEOK: My Top 3 Reasons To Buy The Stock (NYSE: OKE)

ONEOK: My Top 3 Reasons To Buy The Stock (NYSE: OKE)

29 January 2026
Pharmacist issues warning to anyone who crushes tablets when taking medicine

Pharmacist issues warning to anyone who crushes tablets when taking medicine

29 January 2026
Facebook X (Twitter) Instagram
Business Thursday, Jan 29
The Business TimesThe Business Times
Newsletter
  • Home
  • News
  • Business
  • Finance
  • Economy
  • Markets
  • Investing
  • Real Estate
  • Crypto
  • Fintech
  • Forex
  • More
    • Politics
    • Web Stories
    • Spotlight
    • Press Release
The Business TimesThe Business Times
Home » WASPI fury as minister says there will no payouts despite DWP failure
Finance

WASPI fury as minister says there will no payouts despite DWP failure

thebusinesstimes.co.ukBy thebusinesstimes.co.uk29 January 20261 Views
Facebook Twitter LinkedIn Reddit Telegram WhatsApp Pinterest Tumblr VKontakte Email
WASPI fury as minister says there will no payouts despite DWP failure
Share
Facebook Twitter LinkedIn Pinterest Email

Work and Pensions Secretary Pat McFadden has announced there will be no compensation for millions of 1950s-born women despite new evidence coming to light and sparking a review

Millions of WASPI women will NOT receive compensation following a fresh review, the Government has announced.

Work and Pensions Secretary Pat McFadden told the Commons that despite new evidence coming to light, payouts will not be awarded. He told the Commons that an overwhelming majority of 1950s-born women affected by pension age changes knew it would happen – so billions of pounds of payments would be unfair to taxpayers.

It is likely to up a messy court showdown between campaigners and the Department of Work and Pensions (DWP). Campaigners accused the Government of showing “utter comtempt” for affected women.

Nigel Farage’s Reform hypocrisy exposed by letters as turncoat flip-flops on decision
Reform MP Lee Anderson mocked by Angela Rayner over major by-election blunder

Rejecting a compensation scheme, Mr McFadden said: “The evidence shows that the vast majority of 1950s-born women already knew the State Pension age was increasing – thanks to a wide range of public information, including through leaflets, education campaigns, in GP surgeries, on TV and radio, in cinemas, and online.

“To specifically compensate only those women who suffered injustice would require a scheme that could reliably verify the individual circumstances of millions of women. That includes whether someone genuinely didn’t know their State Pension age was changing and whether they would have read and remembered a letter from many years ago and acted differently.

“It would not be practical to set up a compensationscheme to assess conclusively the answers to these questions. As for a flat rate scheme that would cost up to £10.3billion and would simply not be right or fair given it would be paid to the vast majority who were aware of the changes.”

The Government has faced pressure to reverse its decision not to award compensation of £1,000 to £2,950 to 3.6million women. WASPI had been set for a court clash at the start of December demanding a judicial review – but legal action is on hold pending the outcome of the latest review.

In 2024 the Government apologised for a 28-month delay in sending letters informing affected women of the pension age change, but rejected any kind of financial payouts. This was despite the Parliamentary and Health Service Ombudsman (PHSO) recommending MPs immediately set up a compensation scheme.

WASPI chairwoman Angela Madden said: “Ministers have demonstrated their utter contempt for 1950s-born women, for Parliament and for the Parliamentary Ombudsman.

“The Government has kicked the can down the road for months, only to arrive at exactly the same conclusion it has always wanted to. This is a disgraceful political choice by a small group of very powerful people who have decided the harm and injustice suffered by millions of ordinary women simply does not matter.

“The Parliamentary Ombudsman says economic circumstances should not be used as an excuse to deny compensation. The Government has magically found billions to fund policies not made in their election manifesto, proving money can quickly become available when ministers consider something a priority.

“WASPI is taking legal advice, and all options remain on the table. We stand ready to pursue every avenue in Parliament and in the courts to secure the justice that has been so shamefully denied.”

Late last year research from 2007 about the effectivenesss of sending letters emerged, which were not available when the Government’s decision was made. Mr McFadden agreed to review this information before making a final decision.

But he told the Commons: “Of course I also asked the department not just to consider the 2007 report but also to undertake new searches as part of an extensive review of relevant historical documents to help inform the new decision.

“Mr Speaker, we accept that individual letters about changes to the State Pension age could have been sent earlier. For this, I want to repeat the apology that My Right hon Friend (former Work and Pensons Secretary Liz Kendall) gave. On behalf of the Government, I am sorry those letters were not sent sooner.

“We also agree with the Ombudsman that women did not suffer any direct financial loss from the delay. However, the question is about the impact of the delay in sending theseletters.

“The evidence taken as a whole, including from 2007, suggests that themajority of 1950s-born women would not have read and recalled thecontents of an unsolicited pensions letter, even if it was sent earlier.”

Campaigners have raised more than £250,000 to fund their legal challenge. Failures at the DWP meant the decision to increase the state pension age for women was not properly communicated. The worst-affected were plunged into poverty after being unable to plan for the future as a result.

These women were impacted by their state pension age increasing from 60 to 65 and then 66.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email Reddit Telegram WhatsApp

Related Articles

GMB’s Ranvir Singh is ‘full of joy’ in flattering pink jumpsuit– get £40 off her exact look

GMB’s Ranvir Singh is ‘full of joy’ in flattering pink jumpsuit– get £40 off her exact look

UK music festival company collapses after ‘significant challenges’

UK music festival company collapses after ‘significant challenges’

‘I’m a fashion writer and M&S £33 bag looks so expensive – I think it’ll sell out’

‘I’m a fashion writer and M&S £33 bag looks so expensive – I think it’ll sell out’

I tried 59p hack to clean my stained chopping board – it didn’t turn out as planned

I tried 59p hack to clean my stained chopping board – it didn’t turn out as planned

DWP State Pension scheme sees 42,000 boost payments

DWP State Pension scheme sees 42,000 boost payments

Win a dream holiday to the Maldives with Sun Siyam and Travelbag

Win a dream holiday to the Maldives with Sun Siyam and Travelbag

B&M’s ‘colourful’ £3 tumbler rivals £19 Nespresso version

B&M’s ‘colourful’ £3 tumbler rivals £19 Nespresso version

Santander to close 44 bank branches across UK with full list revealed

Santander to close 44 bank branches across UK with full list revealed

Martin Lewis explains how one gadget could save money on car insurance

Martin Lewis explains how one gadget could save money on car insurance

Editors Picks
BREAKING:  Emma Raducanu axes ANOTHER coach as Brit puts out statement after Australian Open jibe

BREAKING: Emma Raducanu axes ANOTHER coach as Brit puts out statement after Australian Open jibe

29 January 2026
GMB’s Ranvir Singh is ‘full of joy’ in flattering pink jumpsuit– get £40 off her exact look

GMB’s Ranvir Singh is ‘full of joy’ in flattering pink jumpsuit– get £40 off her exact look

29 January 2026
ONEOK: My Top 3 Reasons To Buy The Stock (NYSE: OKE)

ONEOK: My Top 3 Reasons To Buy The Stock (NYSE: OKE)

29 January 2026
Pharmacist issues warning to anyone who crushes tablets when taking medicine

Pharmacist issues warning to anyone who crushes tablets when taking medicine

29 January 2026

Subscribe to News

Get the latest finance and business news and updates directly to your inbox.

Latest Posts
UK music festival company collapses after ‘significant challenges’

UK music festival company collapses after ‘significant challenges’

29 January 2026
Annaly Capital Management, Inc. (NLY) Q4 2025 Earnings Call Transcript

Gränges AB (publ) (GRNGF) Q4 2025 Earnings Call Transcript

29 January 2026
Owner’s disbelief as dogs seized over ‘malicious’ XL Bully reports

Owner’s disbelief as dogs seized over ‘malicious’ XL Bully reports

29 January 2026
Facebook X (Twitter) Pinterest WhatsApp TikTok Instagram
© 2026 The Business Times. All Rights Reserved.
  • Privacy Policy
  • Terms
  • Advertise
  • Contact

Type above and press Enter to search. Press Esc to cancel.