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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`

Inflation a "real problem" for older people

12/03/2009

Inflation is still having a significant impact on the finances of older people, an expert has said.

According to Dr Ros Altmann, independent pensions expert and a governor of the London School of Economics, the government must provide greater assistance to older people who are struggling, some of whom may be experiencing debt problems.

She stated that inflation is a "real problem" for people in their post-work years.

Ms Altmann added: "The Bank of England (BoE) itself has ignored - and so has the government - the real problems being faced by older members of society particularly as the inflation rates they face are very high but their income has suddenly been slashed."

She went on to say that as a result of the interest rate drops since October, many retirees have suffered the equivalent of a £10 or £20 a week fall in their pension.

The expert said that the government should consider raising the state pension for everyone.

Earlier this month, the BoE reduced interest rates by 50 basis points to 0.5 per cent.

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