Redress of between £500 and £3,000 for WASPI women, as recommended by the Ombudsman in its report today, would cost the DWP between £3.5bn and £10.5bn according to Hargreaves Lansdown.

The Parliamentary and Health Service Ombudsman has called on the Department for Work and Pensions to consider paying compensation to women born in the 1950s hit by the increase in the State Pension age.

The FCA, PRA and Bank of England are to remove the £10,000 limit on compensation payments related to complaints about the regulators due to be implemented from 1 November.

The Financial Services Compensation Scheme (FSCS) has called for the £85,000 compensation limit to be reviewed for pension claims.