Pensioner debt jumps 80% in two years to average £33,900

Those planning to retire this year have debts nearly 40% higher than those who expected to retire last year, when retirees owed £24,300 on average.  According to Prudential, the debt burden has increased for the second year in a row and is now 80% higher than the low of £18,800 recorded in 2016. However, on the whole, the proportion of people retiring in debt has fallen to 19% from 25% in 2017. Those who are planning to retire with debts in 2018 expect to face repayments for nearly three and a half years on average before they are debt free. On average, the repayments will cost the...