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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`

People `not saving sufficiently for retirement`

13/10/2008

Consumers in the UK may not be saving enough for retirement, potentially putting themselves at risk of future debt.

According to Gordan Lishman, director of Age Concern, high-profile pension schemes that have gone bust in recent years have contributed to people failing to put sufficient funds away for their post-work years.

He said: "Government figures show that around seven million people are not saving enough for retirement. Public confidence in pensions has been rocked ... in recent years."

Mr Lishman added that people should not put off saving and should find out how much they need to accrue for the retirement home they desire.

Figures produced by Age Concern suggest that in 2006-07, an estimated 2.5 million older people had some need for care and support.

Meanwhile, statistics released by Saga revealed that the average cost of a four-year stay in a care home is set to increase to £223,476 by 2028, potentially putting serious strain on the personal finances of retirees.

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