'Pensioner splurge' financed by debt surge

A survey, carried out by YouGov on behalf of Prudential, shows 45% of pensioners find it difficult to adjust to living on their retirement income in the first year, while 14% found it very hard. But 26% of the pensioners surveyed said they had over-spent, with 7% adding it was by a significant amount. Of those that admitted to overspending, half claimed to have spent between £1,000 and £5,000 extra, while 15% overspent by more than £10,000. With a significant 2% of respondents claiming they spent an additional £50,000 in their first year of retirement, Prudential points out the worrying...