Aviva: over-55s face two decades of debt

clock

About a quarter of over-55s will spend at least two decades of their 'winding down years' saddled with some debt, Aviva research suggests.

The group's Real Retirement Report has revealed 24% of pre-retirees (55 to 64-year-olds) still had, on average, £55,804 to pay on an outstanding mortgage in Q4 2012. This is a slight drop on the 30% who had an unpaid mortgage balance in Q4 2011. But, over the same 12 month period, there has been a rise in retiring individuals (65 to 74-year-olds) who face this issue. Fourteen per cent of those retiring said they had an unsettled mortgage value of £69,000, compared to 11% the year before. The research on around 15,000 UK consumers aged over 55 also revealed 8% of long-term retired people ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Income

Annuity rates reach 18-year high of 7.75% in July

Annuity rates reach 18-year high of 7.75% in July

Up from 7.66% in April

Sophia Panayi
clock 30 July 2026 • 2 min read
Enhanced annuities: Turning health realities into better retirement outcomes

Enhanced annuities: Turning health realities into better retirement outcomes

'Retirement planning is not about choosing one solution over another but finding the right balance between them'

Mike Batty
clock 20 July 2026 • 3 min read
Robust fact‑finding: Annuities are back but file quality must keep pace

Robust fact‑finding: Annuities are back but file quality must keep pace

'Good quality annuity files tend to have one thing in common: robust fact‑finding'

Shirley Owen
clock 16 July 2026 • 4 min read