WASPI women issued 24-hour warning over DWP compensation payments worth £2,950

Waspi women have been issued a 24-hour warning ahead of the Labour Party government. Waspi women fighting for Department for Work and Pensions ( DWP ) payouts worth £2,950 have been told they will be "ignored in the Budget".

Pension experts told i it is still possible Labour will come up with a “narrow” hardship fund for the worst-affected women in the spring of 2025. Former pensions minister Sir Steve Webb said that if the Government was to accept the PHSO’s findings and come up with some money for Waspi women, it would probably happen in the spring Spending Review, which sets spending limits for different departments.

“It’s highly unlikely there will be something in the Budget – they will need more time,” said the former Liberal Democrat minister, who is now a partner at financial consultants LCP. “It’s more likely at the spending review in spring, because you would be looking a longer-term spending for departments.

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“I presume what they are trying to do is come up with something so they can say, ‘We haven’t completely ignored the ombudsman’ while spending as little as they can get away with." Helen Morrissey, head of retirement analysis at Hargreaves Lansdown, said: “I would be very surprised to see something on compensation at the Budget.”

“The Government is not likely to open itself up to something on the scale suggested [in the ombudsman’s report]. You could be opening yourself up to eye-watering sums.” The ombudsman suggested compensation payouts from the government ranging from £1,000 to £2,950.

But the Labour party will have the ultimate say in how much is handed out and to who. Former Liberal Democrats pensions minister Sir Steve anticipates that the hardship fund will be a means-tested program with "narrow criteria" allowing only a limited number of women to qualify, thereby reducing the overall cost.