RETIREMENT OUT OF REACH FOR THOSE WITH DEBTS

07/03/2011

Recent figures from the Office for National Statistics show the number of people working past the age of 65 is increasing. In 2001 there were over 410,000 workers aged 65+, whereas by the end of 2010 that number had more than doubled, to 870,000.

Kevin Still, Director, said "We are seeing more and more clients approaching retirement age with large unsecured debts and a mortgage. Often, pension schemes are non-existent or seriously underfunded, meaning they have little option but to continue working part- or full-time, often to the detriment of their health.

“Seeking professional debt advice before facing a major loss of income is preferable to dealing with the stress of missing payments when the household budget can't cope with rising costs and reduced income."

Tags; Housing Debt and Bills, Income Worries and Debt, Retirement Money Problems,

• Share
• 
• 
• Store
• 
• Follow
•