My advice would be to put them into an auction since it is very difficult to value these. The ribbons are for the 1916 Medal and the 1917-21 Medal. The 1917-21 medal without bar (what you have) is about EUR250 at the moment from the last few I have seen. The badges, however, are very difficult to value.
You could try sticking the lot into ebay as well, with good photos. If you can get some of the original pension documents which confirm the recipients name it would add a lot more collector's interest (including myself !).
Best of luck and let us know what you decide to do.
Paul