Average pensioner debt is £45k - Scottish Widows Bank

The provider says of greater concern is the fact one in three owe more than £50,000 and one in ten more than £100,000, putting increased pressure on retirement income. Its study also reveals many 'pre-retirees' (aged 55 to 65) are a long way from owning their own home – suggesting the trend of retirees still being burdened by monthly mortgage repayments is likely to continue. Of those in this age bracket who are still working full-time, over half (51%) still have a mortgage with an average debt of £61,856. And Scottish Widows says the level of debt pensioners are in is closely related t...