Overview

This bill mandates the UK government to propose a compensation scheme for women born between 6 April 1950 and 5 April 1960 who experienced increased state pension ages due to legislation passed in 1995 and 2011. The compensation will be based on a scale determined by the severity of the injustice caused by the increased pension age.

Description

The State Pension Age (Compensation) Bill requires the Secretary of State to present a compensation scheme proposal to Parliament within three months of the bill's passing. This proposal must detail:

• Eligibility Criteria: Defining which women qualify for compensation.
• Compensation Amounts: Specifying the financial payouts, based on the Parliamentary and Health Service Ombudsman's (PHSO) "severity of injustice scale". This scale considers the length of the increase in the pension age, ranging from a few months to six years, and assigns compensation levels accordingly.
• Scheme Administration: Outlining the practical process of delivering compensation.
• Payment Timeframe: Establishing a timeline for distributing compensation payments.

The bill applies to England, Wales, Scotland, and Northern Ireland and will take effect upon passage.

Government Spending

The bill does not specify the total cost of the compensation scheme. The financial implications will depend on the number of eligible women and the levels of compensation proposed by the Secretary of State, based on the PHSO's scale. The government will need to allocate sufficient funds to implement the scheme once it's finalized.

Groups Affected

The primary group affected is women born between 6 April 1950 and 5 April 1960. The bill aims to compensate them for the increased state pension age, which impacted their retirement plans. The government will also be impacted, having to allocate and spend funds to implement the compensation scheme.

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