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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`

Young people `too pressured to think about retirement`

07/09/2007

The pressures of modern life are making many young people forget about thinking of saving for retirement, an industry body has claimed.

Many considerations, such as university life and attempting to get onto the housing ladder, are forcing people into making decisions that will affect the immediate future, rather than the long-term, The Pensions Advisory Service (TPAS) has said.

Increased house prices mean that many people under the age of 30 are taking on mortgages that they would never have considered ten years ago, a spokesman for TPAS said.

He added: "The message has to be getting across to people that irrespective of the fact that they may be more mobile, particularly in their younger years, they still need to try and start, as early as possible, planning for retirement. The longer you leave it, the more difficult it is."

TPAS is a non-profit organisation that provides guidance on a range of pensions.

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