Retirees

20% of people retiring in the UK, will be carrying large balances on their mortgages and large credit card balances.

Among people over their mid fifties, mortgage debt has risen by one fifth according to a recent report by Aviva.

People will likely still be too much reliant on state schemes when they retire and this could spell trouble down the road.

Under half of retirees have a private pension plan in place. Many may have to sell their homes to pay of what they owe.