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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Zurich: Retirees forced back to work

16/07/2008

New research has found British people of retirement age are delaying giving up work or having to return to the workplace due to insufficient preparation.

Insurer Zurich said almost a third (31 per cent) of people of retirement age expect to return to work due to financial difficulties. A total of 64 per cent of those questioned are considering continuing to work after they retire.

The findings may cause concern for those currently struggling with their finances or facing debt problems.

Michael Portillo, speaking at Zurich`s recent conference on the credit crunch, said:
"The combined impact of the rising cost of living, rising inflation, fears of recession and the constant media coverage of the credit crisis, has created insecurity for a huge number of people approaching retirement concerned about their financial future."

Zurich is anxious that British people seem reluctant to seek financial advice for retirement, with research finding nearly three-quarters of those questioned have never spoken to an expert about the issue.

The research also found 94 per cent of people aged between 25 and 34 have never chosen to seek financial advice.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according