The WASPI Women are buzzing with fury – Back to 60 got it right

The WASPI women are unhappy with the level of compensation suggested by the Parliamentary and Health Services ombudsman. Although the ombudsman found that they had not been properly informed of the changes or given sufficient time to plan, the level of compensation suggested was derisory, with an upper limit of £2950.

Carole Cooper said that the government had stolen £45,000 from her and that she wanted it back. WASPI had been campaigning for £10,000 or more per woman affected.

Naturally the DWP and government claim that they do not have enough money to cover such payments.

Why not? They can find untold funding for foreign aid and to house and care for asylum seekers and immigrants arriving on small boats. So why did the country run out of money for pensions?

The answer is simple. Successive goverments raided the pension fumd and failed to pay money into it.

From 1986 to 1989 the value of the fund increased from £5.3bn to £10.4bn. As a result the supplement paid into the fund by the Treasury was abolished by the Social Security Act 1989.

The fund nosedived nto the red, now being raided for the full cost of unemployment and sickness benefit. By 1995 the value of the fund had dropped by 50% leading government to reintroduce another supplemet that was far less valuable than the original. New benefits also had to be paid out of the fund.

Instead of reinstating the fund properly, which would have ensured that £billions were available for women’s pensions, successive governments decided to destroy the pension expectations and rights of women.

The Back to 60 movement were not taken in by the platitudes from government and it was clear that the WASPI request for compensation would result in an offer of a pittance. No wonder the WASPI women are buzzing with fury.