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As the WASPI campaigners persist in their battle for DWP compensation, others are being encouraged to view this legal dispute as a warning. WASPI (Women Against State Pension Inequality)
represents women born in the 1950s who were impacted when their state pension age was raised from 60 to 65 and then 66. The campaigners argue that many of these women were not adequately
informed by the DWP about this significant change, resulting in shattered retirement plans. Despite the Parliamentary and Health Service Ombudsman previously finding
'maladministration' in how the DWP communicated with the women about the change, Labour ministers announced at the end of last year that there would be no compensation payouts. The
watchdog even suggested compensation payments between £1,000 and £2,950 for the women, but Labour stated there would be no financial remedy, reports Lancs Live. The Government contended
that most of the women were aware of the change in their state pension age, and that it would be an imprudent use of taxpayer money to fund payouts. In their latest attempt to secure
compensation, the WASPI campaign has now submitted an application for a judicial review of the Government's decision, which could take months to reach the courts. In light of this
ongoing dispute, Amy Knight, personal finance expert at NerdWallet UK, is urging everyone to ensure they fully understand how their state pension operates. She remarked: "Many Brits
literally can't afford to take their eyes off the state pension prize." She noted that auto enrolment has led to many workers having a workplace pension scheme and some
self-employed individuals have SIPPs (self-invested personal pension), but for a significant number, the state pension remains a crucial part of retirement income. She elaborated: "Even
if you've been diligently saving throughout your working life, the state pension may provide a much-needed addition to your retirement income, providing the financial cushion for you
to live the life you want, so it pays to pay attention to it, whatever your situation. Keeping track of the age at which you can claim your state pension is also important." Currently,
the state pension age stands at 66 for both men and women, with plans to increase it gradually to 67 by 2028. Ms Knight cautioned that there could be further changes to state pension policy.
She stated: "As life expectancies increase, the Government may keep moving the goalposts, and that's a memo you don't want to miss. "Some WASPI women discovered the
change to their state pension age just months before they had planned to start drawing their state pension, giving them no time to put other financial plans in place." She also
highlighted that the triple lock on the state pension could be subject to change. This policy ensures that payments rise by whichever is highest out of inflation, the rise in average
earnings, or 2.5%. Labour has pledged to maintain the policy for the duration of this Parliament, however, many experts caution that such significant increases will soon become unmanageable
for the public purse.