Rachel Reeves says most Waspi women knew pension age was changing so compensation not needed
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Chancellor Rachel Reeves has said most Waspi women knew the state pension age was changing so it was not "the best use of taxpayers' money to pay an expensive compensation bill". The government revealed on Tuesday it would not be compensating millions of women born in the 1950s - called Waspi women - who say they were not given sufficient warning of the state pension age for women being lifted from 60 to 65.
It was due to be phased in over 10 years from 2010, but in 2011 was sped up to be reached by 2018, then rose to the age of 66 in 2020. Follow politics latest: Starmer to face final PMQs of year. Several leading Labour politicians, including Sir Keir Starmer, Rachel Reeves, Work and Pensions Secretary Liz Kendall and Deputy Prime Minister Angela Rayner, said they would get compensation for Waspi women (Women Against State Pension Inequality) before they were in government.
However, they have all now said compensation, which would have cost up to £10.5bn, will not be provided. Ms Reeves became the latest, as she said: "I understand that women affected by the changes to the state pension age will be disappointed by the decision but we looked in full at the ombudsman recommendations and they said 90% of women did know these changes were coming.
"As chancellor, I have to account for every penny of taxpayers' money spent. "Given the vast majority of people knew these changes were coming, I didn't judge that it was the best use of taxpayers' money to pay an expensive compensation bill for something most people knew was happening.".
