Over a million pensioners in debt

And the research reveals around 70,000 people in retirement owe between £50,000 and £75,000, with 2.7 million people claiming they don’t have sufficient income to meet their financial commitments. Prudential says people tend to expect their retirement income to be between £15,000 to £20,000 a year in order to keep the standard of living they are used to, but with 10% of the retired population having outstanding debts of £15,500, it claims the huge gap between people’s expectations and the reality is at the root of the UK savings gap. The company claims with debt of over £15,000, dependi...