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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` School focuses on "curing Ireland`s debt disease"

`Many people to work during retirement due to financial strains`

03/12/2008

A considerable number of Britons will have to work during their retirement in order to support themselves financially, it has been suggested.

According to the Lincoln Financial Group, over a third of workers are resigned to the belief that they will not be able to give up paid work entirely if they wish to maintain the lifestyle they want.

Meanwhile, one in ten people questioned by the firm reported that they do not believe that they will have sufficient funds until the age of 70.

"Retirement is often thought of as a time to stop working and start slowing down to enjoy life. However, with over a third of retirees now either working full or part-time ... it has become even more apparent that effective planning for retirement is essential," stated Simon O`Connor, head of product and marketing at Lincoln Financial Group.

Meanwhile, Just Retirement released research findings last month which suggested that 24 per cent of people approaching retirement are in debt.

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 Rising household costs could pressure people in debt 10/08/2010 - The UK may be about to see a rise in