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Debt in Swindon `on the rise` New debt management option "a positive step" Consumers `should get advice over IVAs, bankruptcies and DROs` Women `less likely to file for bankruptcy` Councils `filing for bankruptcy for those who fail to pay tax` Consumers lying about finances Rise in bankruptcies revealed Scottish bankruptcies on the rise, new figures suggest Borrowers `accruing more debt before seeking IVAs` Bankruptcies `high in south-west` Landlord bankruptcy enquiries `on the up` Increase in bankruptcy figures for another CAB Bankruptcy "best option" for some households 90% "choosing to `jump before they were pushed`" R3: Bankruptcies and IVAs to rise over next 12 months Insolvencies rise for automotive companies Fuel price hike sparks bankruptcy fears London bankruptcies have "quadrupled" Government department identifies fall in bankruptcy levels Insolvency figures `hide true extent of debt problems`

Pensions `causing debt problems due to longer lifespans`

19/02/2008

Pensions companies are not doing enough to alter their schemes to account for people living longer lives, an expert has claimed.

Many retired workers could end up looking for advice on bankruptcy if pension schemes are not altered to take into account the longer lifespan of people today, the Pensions Regulator has warned.

The most recently published central projections from the Office for National Statistics suggest that a man who is 65 this year will live 21 more years until they are 86, while a 65 year old woman will live for another 23 years until they are 88.

David Norgrove, chairman of the Pensions Regulator, said: "There is no point in deluding ourselves that people are going to live less long than that actually might."

Earlier this month, research from AXA found that a fifth or workers are forced into early retirement due to lack of work opportunities.

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