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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`

40% of people approaching retirement `saddled with debt`

16/02/2010

According to the first `Real Retirement` report from insurer Aviva, two fifths (40%) of people approaching retirement aren`t saving any money to help support themselves when they leave work, with many of these `pre-retirees` having considerable levels of debt, the Guardian reports.

The report, which reviews the financial situation of people in three stages - `pre-retirees` (55-64), `retiring` (65-74) and `long-term retired` (over 75), has shown that people in the 55-64 age group are, in general, `much worse off than people who have already reached state pension age`.

As the Guardian puts it, `the report paints a picture of a divided Britain with a growing gap between the super rich and the very poor, with more than one in five people struggling to survive on less than £750 a month and an increasing number entering retirement saddled with debts.`

More than 25% of 55-64-year-olds still have a mortgage, owing £52,535 on it on average, and one in five still owe more than £75,000 on their property.

For most people over the age of 55, non-mortgage debt is not a big concern, as the typical household has no outstanding credit card debts, loans or overdrafts. The mean unsecured debt in this particular age group is just £2,336, while those carrying the most debt are those who also have a mortgage.

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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