State pension age could go up again as government launches review
Ms Kendall warned of a growing threat of pensioner poverty without significant reform, citing Age UK research that future retirees could receive £800 less annually than current retirees.
The current state pension age is 66, but is set to rise to 67 in 2028. The state pension's triple lock guarantee costs the government £31 billion each year.
Concerns were raised about the demographic imbalance, with the number of pensioners projected to increase by over 50 per cent by the 2070s, while the working-age population grows by only 10 per cent.
Ms Kendall said that many working-age people, including a significant portion of the self-employed, are not saving sufficiently for their retirement, exacerbating future financial insecurity.
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Metro
27 minutes ago
- Metro
How football could produce wrestling's next big superstar
To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video A wrestling company famed for launching the careers of John Cena, Randy Orton and more is turning to UK sports to find the next great grappler. WWE legend Al Snow's Ohio Valley Wrestling (OVW), which was the subject of acclaimed Netflix docu-series Wrestlers, is launching a new initiative on our shores to discover sports entertainment's next superstar. The company is hoping to encourage footballers, rugby players and other athletes in the UK to chase a career in the ring, after stars from basketball, gymnastics, the NFL and more have made the transition in the US. Speaking exclusively to Metro, the 61-year-old star has a stark warning for anyone thinking it'll be an easy ride. 'It is far easier to be a player in the World Cup of the soccer team than it is to be on the main roster in WWE,' he insisted. 'Think of the number of players on the team. Think of the number of teams now, what are your odds? 'Think of the number of wrestlers that are on the main roster of WWE. Think of the number of people that wish to be in that place, and now think of the odds.' OVW was recently bought by UK-based sports agency Morley Sports Management (MSM), who also own Cymru Premier football club Haverfordwest County AFC, and they are looking to their take first UK intake of trainees from football and rugby in 2026. Rob Edwards, MSM founder and CEO, said: 'We absolutely know the talent is there in the UK – particularly in football – and the opportunities we OVW provide could give so many sports people another chance.' Anyone interested in training at the OVW Academy can apply here. They won't be the first, with former Werder Bremen goalkeeper Tim Wiese and rugby league player-turned-WWE superstar Ridge Holland among those to make the transition. Tim failed to make an impact, while Ridge has had a rollercoaster career – but he came in as a fan with 'respect for the business'. 'That goes a long way,' he told Metro in 2022. 'Athletes tend to have some form of ego… You've been a top athlete in your chosen sport, and then you've gotta start at the bottom. 'You've got to just humble yourself, put your nose to the grindstone and listen, work hard and take each day as it comes.' So, what can the athletes expect? 'At the very beginning, really focusing on the fundamentals, just like any actual sport,' the former WWE European Champion explained. 'I can't emphasise enough how much that plays a role in their development and their overall performance and their consistency, and their ability to mitigate the possibility to the injury.' Al knows all about the physical impact of a career in wrestling, having had both knees replaced a few years ago to deal with a brutal amount of pain. 'I wake up every day in pain,' he explained. 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The Independent
27 minutes ago
- The Independent
Governor Bailey is wrong: We should embrace the digital pound
Is the digital pound dead in the water? More than 100 countries are looking at the creation of their very own digital currencies. China already has one. The EU is developing a digital euro at pace. But the Bank of England? It seems to be tacking the opposite way to the rest of the world. Andrew Bailey told MPs on the Treasury Committee that he would need 'a lot of convincing' to greenlight a launch, which the Bank has already said couldn't happen until sometime in the 'second half of the current decade' anyway. Is this an opportunity missed? Even a case where the governor's conservatism threatens to leave Britons in the digital dark ages? First off, I should explain what the digital pound actually is. Digi-pounds (that's not the official name; I'm not sure we have one yet) would be currency issued by the Bank that could be stored in a digital wallet provided by a company like, say, Apple. This would allow you to pay for things directly, without the need for the card you currently have to have set up to use Apple Pay. People could also pay you by the same means. PS, Apple CEO Tim Cook isn't paying either me or The Independent for the mention. I'm using Apple Pay as an example because it's a service I use. Bailey is distinctly unimpressed with the idea of this new form of money. His preferred option is to help the market improve digital payment tech, which he said could deliver 'huge benefits'. Fraud reduction, lower costs, faster payments to SMEs, which at this point are probably saying chance would be a fine thing. "That's a sensible place to do it because that's where most of our money is," the governor opined. But here's an idea: why not simply do both? Is that really so hard? Or is the Bank yet again in 'can't do' mode? It is true that there are legitimate concerns about digital currencies. Sceptics worry about vulnerability to hacking. Fears have also been expressed about their making it easier to launder money, even to facilitate terrorist financing. Criminals took up Bitcoin with alacrity. Lately, they have favoured so-called ' stablecoins ', the value of which are linked to an underlying commodity or an existing currency such as the dollar. On the flip side, some critics have voiced fears about digital currencies being used to facilitate government snooping. This has been a big concern with the Chinese version given the obsessive interest in what its citizens do, say and even think of that country's government. But every new technology comes with pluses and minuses. It would be better for Bailey to accept that and roll with the punches. Bitcoin and its ilk already have a legion of fans in this country. If people like the concept of central bank issued digital currencies, there would theoretically be nothing to stop them from using digital euros if and when they arrive. There are already outlets in London that accept the paper equivalent (and dollars and yen while we're at it). Here's a potential selling point for your business: 'We accept the digital euros!' Right now, the central bank looks flat-footed, a very obvious laggard, largely thanks to the conservatism of the governor. I suspect some of Bailey's caution can be tracked back to his time at the head of the Financial Conduct Authority, a fairly thankless, if well remunerated, task at the best of times. Its CEO tends to get the blame for everything and the credit for nothing. Launching a new form of money is bound to create challenges and it will once again be Bailey's head on the block if something goes wrong. There have lately have been suggestions that the Bank could cease or at least shelve the work it has been doing on a digital pound. That would be a mistake. Digital currencies are coming. The Bank should accept that and prepare for the future. The governor badly needs to pull his legs out of the mud in which they're stuck.
Daily Mail
28 minutes ago
- Daily Mail
Surprise state tops list of best places to retire in the US
New England has emerged as the best region to spend your twilight years with four of its states ranked among the top ten places to retire. Taking the crown for the best state to put down roots in retirement has been awarded to often overlooked New Hampshire. The state, known for its luscious green wilderness and quaint towns, is also a great bet for those looking to retire due to its low taxes, excellent healthcare and safe neighborhoods. The state triumphed in an analysis run by Bankrate which analyzed factors including a state's affordability, weather, safety, healthcare, taxes and how many people there would be of a similar age. New Hampshire ranked as the best of all fifty states for neighborhood safety, fifth for healthcare and sixth for taxes. It was joined by its New England neighbors Maine, Rhode Island and Vermont in the top ten. Three western states also scored highly and made the top ten, Idaho, Utah and Wyoming. 'Surprising to many, including me, is that there are four states from New England in the top 10,' Bankrate analyst Stephen Kates said of the survey's findings. 'Health care, both access and cost, as well as safety, recreation, and walkability play a major role in our rankings, and these states excel in these categories.' Intriguingly states that have often been viewed as retirement hotspots scored below the bottom of the table. Florida was ranked 41st, and was joined by seven other sun belt states in the bottom ten. 'Unlike more common retirement rankings by state, Florida didn't land very high on our list,' Kates explained 'Coming in at number 41, Florida ranks strongly on taxes and abundance of other retirees. 'However, it ranks poorly for health care, home insurance costs and natural disasters, which create significant cost disadvantages for retirees.' Louisiana earned the unenviable bottom place, scoring poorly in every category. The sunny southern state even ranked 39th in the weather category due to the number of tornadoes and hurricanes it experiences. New Hampshire has some of the most celebrated beaches on the East Coast Bankrate analyst Stephen Kates said it was surprising how well New England states scored Texas also scored badly, following Louisiana in 49th overall place. The Lone Star state scored last for healthcare and second last in having people of a similar age. Kates urged retirees and those looking to retire in the coming years to take note of the new rankings that go beyond the traditional draws such as a sunny, warm climate and low taxes. He believes that factors such as access to recreational activities and public safety can actually have a greater bearing on a retirees quality of life.
