Brits thinking about retirement advised to seek debt advice
Brits thinking about retirement advised to seek debt advice
- Tuesday, 3 May 2011Consumers considering their retirement options have been advised to seek professional advice, as they may end up with
debt problems in the future.
That is because some Brits have been put off of paying into a pension scheme by the media, which may lead people to live off a state pension, which can be as little as £20 a day.
Someone retiring with
credit card debt or outstanding loan repayments could end up in financial difficulty if they only receive a state pension.
Sarah Pennells, editor of a financial website aimed at women, made some of these suggestions as too many Brits have been influenced by the media regarding retirement issues.
She said: "Some people never get round to saving for their retirement because they don't trust pension companies - which means they have to rely on the state when they do retire and that can mean living on less than £20 a day."
Therefore, these people should seek professional advice regarding retirement, Ms Pennells added.
According to the Prudential, 43 per cent of consumers have either received no advice at all or searched online for information about retirement.

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