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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`

Pensions debt may impact workers` retirement funds

05/08/2010

According to a report by actuaries LCP, an entire generation of workers may be left with little money to retire on because companies haven`t reduced their pension debts, lv.com reports.

£17.5bn was paid into employee pension pots by large firms during 2009 - which helped slash the top 100 firms` overall pension debt by around 50%, to £51bn.

However, as the Accounting for Pensions report points out, the increase in bosses` contributions could put the brakes on any recovery from the recession and might `discourage investors`.

Bob Scott, LCP partner, said that the growing number of cheaper pension schemes being taken on by companies - which have closed down final salary pension schemes - don`t take into account the fact that many workers will be left with very little to retire on.

A spokesperson for Debt Advisers Direct commented: "We would advise anyone who thinks they won`t have enough money to retire on to seek professional advice as soon as possible."

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Debt Advisers Direct offer expert 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