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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`

Stock market crash jeopardising retirees personal finances

02/12/2008

A considerable number of UK retirees may have their personal finances adversely affected by the recent stock market volatility, it has been suggested.

According to figures produced by uSwitch.com, almost three million such people are relying on shares to fund their old age.

They may, therefore, have to wait several years for their retirement funds to recover their values.

Commenting on the situation, director of consumer policy at uSwitch Ann Robinson said that the outlook for the next generation of consumers is "more serious than it has ever been".

She added: "The economic slump has certainly scuppered the best laid plans of people nearing retirement. Consumers are faced with falling house prices coupled with a stock market crash and low savings rates."

Meanwhile, figures produced last month by Just Retirement suggested that the amount of debt possessed by pensioners has risen, with 24 per cent of people approaching retirement currently in the red.

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