Retirees 'still paying off debt'
Retirees 'still paying off debt'
Thursday 2nd October 2008
This is a further indication that debt is becoming an increasing problem for pensioners, who are already facing the prospect of soaring energy bills during the winter months.
The data from the Scottish Widows UK Pensions Report also reveals that almost half of respondents of working age are still not saving enough for their retirement, suggesting that debt levels could worsen in years to come.
Ian Naismith, head of pensions market development at Scottish Widows, said: "It is vital that people who are still working realise the difference between wanting a good retirement and actually planning for one.
"It's a shame that some people need to spend their hard earned savings on paying off a mortgage or clearing debts. Retirement should be about enjoying life."
Meanwhile, a new energy package announced by the government yesterday has been criticised for not going far enough to help the millions of households facing rising costs over the winter period.
www.debt1.co.uk - The official website of Byrom & Keeley – A UK based debt management company
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