Canvey Island shopping centre to have £2m refurbishment
Lack of modernisation meant some of the centre's 28 shop units had remained vacant, the cabinet was told.The improvements aimed to attract customers and tenants, a report to councillors said, and involved upgrading lighting, flooring, ceiling and infrastructure "to enhance the overall experience"."Creating a brighter, safer and appealing centre will make the space more inviting and competitive while diversifying the retail mix to appeal to a broader demographic with new shops, dining or entertainment options," it added.Residents had called for the centre to be updated, according to the Local Democracy Reporting Service.One said it was "very run-down" and often just used as a "cut-through" to Sainsbury's rather than for shopping. Others described it as "old, ugly, and boring", LDRS said.
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The Independent
27 minutes ago
- The Independent
The average British house price is set to surge by 2029
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The Independent
27 minutes ago
- The Independent
Minimum level of retirement income needed to prevent surge in pensioner poverty, MPs warn
Ministers should ensure a retired people have a minimum level of income to prevent a surge in pensioner poverty, MPs have warned. It comes after the work and pensions secretary Liz Kendall said Britain faced a 'tsunami of pensioner poverty' without major reform to the system as she opened the door to an increase in the state pension age. Age UK has found that two million pensioners are already in poverty, with the number expected to rise. Now MPs on the Commons Work and Pensions Committee say a new national strategy to tackle the problem among older people is needed. They have urged the government to set and deliver a minimum level of retirement income, enough for a "dignified, socially acceptable standard of living" in later life. The report also warns that, as people age, the health and social care systems risk becoming unsustainable if ministers fail to tackle the effect poverty has on ill-health. Among the worrying long-term trends that "threaten to undermine pension adequacy", are people renting into later life, the report adds. It also calls for ministers to ensure those entitled to pensions credits of up to £4,000 a year receive them. Current take up is under 70 per cent, with an estimated 700,000 households missing out. Receiving pension credit can also help older people access other benefits such as housing benefit, council tax support, the warm homes discount, a free TV licence, and help with their dental treatment. The report warns: "After a decline in pensioner poverty in the 2000s, the number of pensioners in relative low income started to rise again from 2010. This has been exacerbated by increases in the cost of living since 2021." It continued: "In practice, this means cutting back on essentials, like food, energy use and seeing friends, in an attempt to manage costs. Health experts explained the implications for health. Financial hardship can accelerate the ageing process, making it more likely that an older person will enter hospital or need care." Debbie Abrahams, the Labour MP who chairs the committee, said: "To boost incomes, the government needs to come up with a strategy to increase pension credit take-up. It's a scandal that so many have missed out for so many years, often through an aversion to claiming benefits altogether, or lack of support.' She added: "Ultimately, the government should decide what it thinks is enough for a dignified retirement, and then work to ensure that all pensioners are on at least that level. "Faced with a combination of high energy costs, ill-health and ever higher rates of pensioners in more costly privately rented accommodation, tackling pensioner poverty is not simply a DWP (Department for Work and Pensions) issue. So, we're calling for a nationwide, cross-government strategy for an ageing society that should be rooted in equity and wellbeing." On Tuesday, chancellor Rachel Reeves said that a review into raising the state pension age is needed to ensure the system was "sustainable and affordable". The state pension age is currently 66, but will rise to 67 by 2028. A government spokesperson said: "Supporting pensioners is a top priority, and thanks to our commitment to the triple lock, millions will see their yearly state pension rise by up to £1,900 by the end of this parliament. "We have also run the biggest-ever campaign to boost pension credit take-up, with nearly 60,000 extra pensioner households being awarded the benefit, worth on average around £4,300 a year. "But we know there is a real risk that tomorrow's pensioners will be poorer than today's, which is why we are reviving the Pension Commission, to tackle the barriers that stop too many people from saving." Caroline Abrahams, charity director at Age UK, said: "We warmly welcome this thoughtful and wide-ranging select committee report, which comes closer to providing a thorough and progressive strategic overview of the issues facing older people on low incomes and proposing workable solutions than anything successive governments have produced in recent years.'
The Independent
27 minutes ago
- The Independent
How does Britain's pension predicament compare with other countries
Liz Kendall announced this week that she is reviving the pension commission as the government tries to tackle what she described as a looming 'tsunami of pensioner poverty'. The work and pensions secretary said the government is setting out to 'tackle the barriers that stop too many saving in the first place' after her department found that people retiring in 2050 are on track to be poorer than those retiring today, expecting to get £800 less in private pension income. Currently, just 55 per cent of working age adults in the UK are contributing to a pension pot, and MPs have said that a UK-wide strategy is needed to address pensioner poverty. But the UK's pension dilemma is not unique. Countries across the world are grappling with similar looming crises, driven by a combination of factors including demographic shifts, low interest rates and economic instability. Here, the Independent takes a look at what action other governments are taking to stave off the impending crisis. United States In the United States, half of all private-sector workers are unable to get a retirement plan through their jobs, according to a survey published in June by Pew Charitable Trusts. The US's most common workplace retirement plan is a 401(k), which allows employees to voluntarily put money aside for retirement which is typically matched by their employers. The total employee and employer contributions to a 401(k) cannot exceed $70,000 per year. Around 27 per cent of Americans over the age of 59 have no savings to rely on in their retirement, according to a survey by financial services firm Credit Karma in 2023. Last week, the Wall Street Journal reported that the Trump administration was expected to sign an order that would open up 401(k)s to the private markets. It would order the US Labor Department and Securities and Exchange Commission to create guidance for employers on including private assets in 401(k) plans, which could, in turn, create more investment opportunities for them. Canada Currently, the key challenge for many countries remains the low rate of pension saving. More than half (59 per cent) of working Canadians do not believe they will have enough money to retire, according to a survey conducted this year by Canadian pension fund HOOPP, Healthcare of Ontario Pension Plan. However, Canada is tackling this through rate increases within their savings system. The government has expanded the Canada Pension Plan (CPP), a monthly benefit that replaces a percentage of a person's income after they retire. Between 2019 to 2025, it has increased the percentage of how much of a worker's earnings are replaced from 25 per cent to 33.33 per cent. It has also increased the maximum level of earnings protected by the CPP by 14 per cent over 2024 and 2025. Australia Australia is recognised as having one of the world's top pension schemes where employers are required to pay a percentage of their employees earnings into an account which that employee can then access once they have retired. As of this month, employers are now required to contribute 12 per cent to employees' retirement savings accounts, up from 11.5 per cent. They are also taking steps to close the gender pension pay gap with the Labor Government introducing a superannuation top up for parents taking time off to care for a newborn. The CityUK CEO Miles Celic said: 'total contributions will have to rise if we are to emulate the successes of, for example, Australia and Canada. 'This will involve difficult political choices alongside technical changes to policy and regulation.' France In 2023, French President Emmanuel Macron raised the age of retirement from 62 to 64, which sparked massive public backlash and protests. Macron's administration argued that the reform was essential to prevent long-term deficits in the pension system. At the time, Macron said he did not enjoy passing the reform but called it a necessity, saying 'the longer we wait, the more (the deficit) will deteriorate.' As well as increasing the age of retirement, France has also hiked the minimum contributory requirements by 2 per cent this year across all bands. The minimum contribution applies to retirement pensions under its Pension Insurance scheme. In Germany, the retirement age is gradually being raised from 65 to 67. Like many governments across Europe, it is trying to reduce pressure on the pension system created by aging populations. Last year, it approved pension reform and its new government has set out a series of policies that include maintaining the amount paid to retirees each month - which is 48 per cent of the average monthly salary.
