Home > News > Debt advice

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`

Brits `naive about retirement finances`

21/04/2009

Many Britons are failing to save sufficiently for their retirement, it has been claimed.

According to Halifax, 52 per cent of those polled recently did not pay into a pension, potentially putting them at risk of financial difficulties such as debt problems in their post-work years.

The research also revealed that 70 per cent of respondents overestimated what they will receive in state retirement funds.

On average, those questioned were willing to save £59 a month towards their pension, which is less than half of the £150 required to yield the desired retirement income of £24,000 a year, Halifax claimed.

Managing director of the firm Karen Crowshaw said: "It may be a natural assumption for many to delay saving for retirement when faced with day-to-day expenses, but it is important that retirement plans do not bear the full brunt of the current economic climate."

Recently, Kate Jopling, head of public affairs at Age Concern and Help the Aged, said that retirees are cutting back on the essentials, for example by skipping meals, in order to save money during the recession.

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