WASPI compensation general election update

The 2024 party manifestos are out – here’s what they have to say about compensation for WASPI women

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As the main political parties reveal their election manifestos, a new concern for WASPI  (Women Against State Pension Inequality) emerges: will the winning party agree to provide the compensation that seemed almost within reach before the election was called?

While the Liberal Democrats have pledged their support to provide WASPI compensation in its manifesto, the Conservative and Labour parties have notably avoided making any definitive promises on the issue.

What is being promised to WASPI women in the election?

As the 2024 general election approaches, the manifestos of various political parties have addressed the concerns of the WASPI women to different extents. 

Here’s what each of the three main parties have to say on the subject.

Conservatives

Published on 11 June, the Conservative’s 2024 manifesto does not include a commitment to WASPI compensation. Despite acknowledging the issue, the party has refrained from making any promises or outlining any specific plans to address the grievances of the WASPI women.

The policy document says: “We are carefully considering the Ombudsman report into Waspi women and will work with Parliament to provide an appropriate and swift response.”

According to the Express, Angela Madden, chair of WASPI, said it was “disappointing” that the Conservatives had stuck to their previous position in their manifesto.

Labour

Released on 13 June, the 2024 Labour manifesto avoids making any commitment to compensation for Waspi women. While the party has expressed sympathy for those affected, it stops short of making concrete pledges regarding financial redress or specific support measures.

The Daily Record reports that in early June the Shadow Chancellor, Rachel Reeves, said of the campaign: 

“There are lots of things that a Labour government might like to do, but the state of the public finances and the dire need of our public services means that we won’t be able to do everything that we might like to do.”

She went on to say: “We won’t put forward anything that is not fully costed and fully funded, and I haven’t set out any money for this.”

Liberal Democrats

The Liberal Democrats have pledged their support for the WASPI women, promising to provide the compensation that they have long fought for. They pledge a fair redress for the women affected by the changes to the State Pension age.

The 2024 Liberal Democrat manifesto says the party will “ensure that women born in the 1950s are finally treated fairly and properly compensated”.

Speaking to the Express, Angela Madden, chair of WASPI, said: “We’re very pleased with the Lib Dems, they have been supportive all the way through. They always supported us in the last administration.”

What are WASPI women fighting for?

Waspi is a campaign group that raises awareness and advocates for women born in the 1950s to receive compensation. They believe the government’s Department of Work and Pensions (DWP) failed to properly communicate the State Pension age changes when the women’s age was brought in line with men’s.

Campaigners for WASPI say that a staggering 3.8m women were hit especially hard when the government did not give them the necessary time to prepare themselves financially for their new State Pension age. 

Complaints were made and an ombudsman investigation followed. Its report in March 2024 said that complainants said they had experienced financial loss, hardship and suffering as a result of unsatisfactory communication of the State Pension age change by the DWP.

The ombudsman report recommended that payments are made to each of the women affected of between £1,000 and £2,950. Though it was less than the group have asked for previously, it was real progress.  

After the report’s findings came out, MPs took part in a House of Commons debate on the issue of WASPI compensation. But a State Pension Age (Compensation) Bill was subsequently shelved following Rishi Sunak’s announcement of a General Election on 4 July. 

It was a blow to campaigners, as any tangible plans for compensation came to a halt following the dissolution of Parliament until the country chooses its government on 4 July.

Read more about the campaign in our Guide to Waspi here.

About Clare Yates. With over a decade’s experience writing about later life financial planning, Clare offers a wealth of knowledge about equity release, pension annuities, wills, LPAs and more. When she isn’t writing, Clare likes to spend her time baking and going on walks with her husband, two children and their rescue dog. Follow Clare on LinkedIn