14 August 2008
A recent report compiled by equity release firm Key Retirement
Additions has shown that more than a third of over 55s are facing
retirement saddled with thousands of pounds of debt.
It said 35.7 per cent of older workers and pensioners had
outstanding unsecured debts that add up to £66 billion.
This works out at £11,106 per head - not including
mortgage debt, which for over 55s is on average £37,316.
The figures suggest the debt problems for over 55s is getting
worse. Two years ago, only 31.8 per cent had unsecured debts, and
the average owed was £10,181.
