Paul Lewis: women's pensions and the latest on winter fuel support
Our money expert has all the financial news you need for February.
Image credit: Zhanna Danilova
Our money expert has all the financial news you need for February.
The Government has ruled out compensating women born in the 1950s for the rise in their state pension age from 60 to 65 or 66.
Liz Kendall, the Secretary of State for Work and Pensions who spoke in favour of WASPI women before she was in Government, told Parliament in December that "there should be no scheme of financial compensation to 1950s-born women".
She was giving the Government’s response to a report by the Parliamentary Ombudsman, which found the DWP had been guilty of maladministration in how it informed women about the change and suggested compensation of between £1,000 and £2,950 each for the 3.6 million affected.
Kendall apologised for the maladministration but said the £10 billion cost the Ombudsman suggested would not "be a fair or proportionate use of taxpayers' money [as] the great majority of women knew the state pension age was increasing".
Campaigners say they’ll challenge the decision.
Some councils in England are stepping in to fill the gap left when the Government took away the winter fuel payment from 10 million pensioners. The £200 or £300 payment used to be given to all people over pension age, but from this winter has been confined to pensioners on the means-tested benefit pension credit.
Research shows that many just above the threshold to get pension credit are still struggling with their fuel bills.
Any pensioner worried about meeting fuel bills should ask their council to see if it can help.
Do it soon: the extra cash may stop on 31 March.
Telecoms firms have been banned from raising prices each year by a percentage. Many had increased the cost of fixed-term contracts each April by inflation plus 3.9%.
The regulator Ofcom has ruled they must now be clear at the start of a contract about any rises and express them in pounds.
The change began on 17 January.
A website often recommended here closed on 19 December. Savingschampion.co.uk has now been absorbed into theprivateoffice.com offering independent financial advice.
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