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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`

Workers risk debt by neglecting pensions

31/07/2009

According to research from Prudential, over 1 in 10 people with a pension have stopped making contributions over the last five years, with a growing number of people hoping they will receive enough retirement income from state pensions and savings.

The decision by some people to stop making contributions to their pension could trigger a rise in `pensioner poverty` and personal debt in years to come, according to the company.

Prudential`s Director of Defined Contribution Solutions, Martyn Bogira, said: "It`s worrying that many people who have been working for years and saving for retirement seem to have given up hope and stopped paying into their pension. This is the last thing they should be doing."

A spokesperson for Debt Advisers Direct commented: "People who choose not to contribute to their pensions may be risking their future security, and may have less protection against debt if any unexpected costs occur in the future.

"Some people may feel they are prevented from making pension contributions as a result of existing debts. Anyone having trouble with their debts should contact a professional debt adviser without delay."

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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