Britain’s main opposition Labour Party has promised to hand more than three million women compensation for the loss of years of state pension payments when their retirement age was raised if it wins power at a Dec. 12 election. Labour’s finance policy chief, John McDonnell, said pay-outs of up to 31,000 pounds, with an average payment of 15,000 pounds, would be made to those women who had been expecting to retire at 60 but then were told they would have to wait longer. Labour said the total cost of such a proposal was estimated to be 58 billion pounds before tax, but that it could be paid in installments.
