A significant number of people aged between 50 and 59 are expected to still be paying off their outstanding debts when they are retired, according to a new report.
Research by Scottish Widows found that one in five retired homeowners have an outstanding
Ian Naismith, head of pensions market development at the firm, said that the research revealed that a number of people will be facing significant “financial pressure” when they retire.
“It is important for those people who will be reaching retirement in the next few years, and still have debt outstanding on their
Earlier in the year, Key Retirement Solutions reported that the average British pensioner owed £7,551 in
Dean Mirfin, director of the company, said that access to “easy credit” had added to this mounting level of debt.
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