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`

Low-income employees risk debt by not joining pension scheme

29/05/2009

New statistics have shown that lower-paid employees were much less likely to belong to pension schemes than their higher-paid counterparts in 2008, putting them at risk of debt problems in later life.

The Office for National Statistics claimed that 21% of men and 32% of women earning less than £300 a week were in employer-sponsored pension schemes, according to the BBC.

Meanwhile, 76% of men and 82% of women with gross weekly earnings of £600 or more did belong to an employer-sponsored pension scheme.

A spokesperson for Debt Advisers Direct said: "Pension schemes can offer a lot of security for later on in life, so we advise that anyone who can reasonably afford to join one does so.

"There is a risk that people who do not save adequately for their retirement will not have enough for their later years, and that could mean getting into debt just to meet day-to-day costs."

---

Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

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