Millions of Britons are likely to have outstanding debts when they retire, according to new research.
A study carried out by Key Retirement Solutions revealed that one-in-three over-55s retires owing more than £11,000.
Those most at risk were the over-70s, who have collective debts exceeding £22 billion.
Commenting on the situation, Dean Mirfin, business development director at Key Retirement Solutions said: "As the cost of living is on the up, these figures, even if they are only part reflective of pensioners as a whole, are of real concern.
"Retirement should be a time to enjoy yourself after all those years of hard work, yet one in 20 people in their 60s, 70s and 80s admit to constantly struggling to keep up with financial commitments or having fallen into arrears."
Chris Tapp, director of UK charity Credit Action, echoed Mr Mirfins concerns and noted that many Britons has a "buy now, worry later" mentality.
He added that it was essential for those who were in debt to seek advice and support.
A recent report in the Telegraph suggested that elderly people were also more likely to pay higher premiums for products such as car insurance and travel insurance, as they were less likely to compare prices online.
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