A pensions expert has warned there is an important lesson to take from the WASPI dispute for all people planning for their retirement.
Campaigners are pushing to secure DWP compensation for the WASPI (Women against state pension inequality) generation of pensioners.
Neil Rayner, head of Advice at True Potential, told Express.co.uk: “The WASPI debacle is a clear reminder that relying solely on the state pension is dangerous, as the goal posts constantly get changed, often unfairly.
“Instead, savers, particularly young savers, should get on with planning their own financial futures.
“The crux of this plan should rest on investing into a personal pension, rather than relying on a state pension that might not be there for them when it comes time for them to retire.”
Hopes were renewed for the WASPI cause last month when a long-awaited report from the Parliamentary and Health Service Ombudsman said they should get compensation.
The report recommended payouts of between £1,000 and £2,950, and called on Parliament to take up the issue.
A group of cross-party MPs are calling for compensation to be given to the 1950s-born women.
SNP MP Marion Fellows told Express.co.uk previously: “It is a further stain on UK justice. A WASPI woman dies every 13 minutes.
“After all these years a £10,000 payment is what these women deserve. I have met with them and I have demonstrated with them. Now I want to see immediate action from the Government.”
There was some success for the campaign last week as a debate was approved in Westminster on the topic of whether or not to grant compensation.
The campaigners also have allies among Conservative MPs. John Penrose MP said: “It is essential that the women who’ve been affected get proper compensation.
“There probably won’t be a single amount that everybody should get because the Ombudsman makes clear there are many different types of cases where women experienced different levels of injustice.”
The MP said he has been contacted by many constituents worried about the issue but that he would be pressing the case for compensation even without this, as “it’s the right thing to do”.
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