WASPI women insist 8.5 percent rise in State Pension will not end financial misery | Personal Finance | Finance [Video]

WASPI women who were left out of pocket by changes to the official retirement age say an imminent increase in the State Pension will do little to ease their money worries.

The Women Against State Pension Inequality (WASPI) campaign group is demanding compensation after they lost out when the official retirement age was increased from 60 to 66.

Last month, they won support from an official report of the Parliamentary and Health Service Ombudsman (PHSO) which ruled there was a failure to properly notify the 3.8 million women involved.

It suggested these women might be due compensation of £1,000-£2,950, however neither the Conservatives nor Labour have made any commitment to pay up amid a squeeze on government finances.

The State Pension rises by 8.5 percent on Monday. As a result the new State Pension will go up by £902.20 a year to £11,502 while the old basic state pension goes up £691.60 to £8,814 a year.

Despite this increase many of the Waspi …