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

Sounding the alarm: Facing the retirement reality check

Sounding the alarm: Facing the retirement reality check

'At the heart of the issue is a worrying lack of engagement'

Laith Khalaf
clock 17 June 2025 • 3 min read
Why we plan holidays, not retirements: Changing the client conversation

Why we plan holidays, not retirements: Changing the client conversation

'This is scary for us as an industry but even more scary for us as a nation'

Verona Kenny
clock 04 June 2025 • 4 min read
Inflation drives 'modest' rises in PLSA's Retirement Living Standards

Inflation drives 'modest' rises in PLSA's Retirement Living Standards

Majority of pre-retirees expect to live with someone else in retirement

Martin Richmond
clock 03 June 2025 • 8 min read