Labour's £58bn WASPI pledge branded 'regressive and appalling'

Hannah Godfrey
clock • 3 min read

The Labour party's pledge to hand out £58bn to around 3.8 million women affected by the increases to state pension age has been criticised. The pledge was first outlined in Labour's manifesto, published last week, which vowed to "work with [1950s] women to design a system of recompense for the losses and insecurity they have suffered". Over the weekend, the party revealed such a system would cost £58bn. Speaking on Sky News on Sunday (24 November), shadow chancellor John McDonnell said: "This is an entitlement, not a benefit… this is a historic injustice, we have to address it." A ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

PA360: The 'human' element of retirement planning becoming ever more important

PA360: The 'human' element of retirement planning becoming ever more important

Retirement panel on client-centric approaches

Isabel Baxter
clock 02 May 2025 • 3 min read
'Urgent action' needed on Gen Z pension saving barriers: PPI report

'Urgent action' needed on Gen Z pension saving barriers: PPI report

Generation faces retirement challenges

Jasmine Urquhart
clock 26 February 2025 • 3 min read
Advisers concerned about regulatory scrutiny in decumulation phase

Advisers concerned about regulatory scrutiny in decumulation phase

Retirement planning ‘dominates’ client advice requests

Isabel Baxter
clock 27 November 2024 • 3 min read