Numbers retiring in debt back on the rise - research

Those retiring in 2017 in debt owe on average £24,300 - an increase of £5,500, or 29%, since last year, and this year's figures also represent the first time Prudential has reported a growth in the amount of retiree debt since 2012 when the figure peaked at £38,200. On average, those expecting to clear their debts will take nearly three and a half years to pay them off and can expect their repayments to cost them an average of £230 a month - an increase on the £224 a month recorded in last year's survey. Nearly one in six (16%) expect to take seven years to pay it off, however, while a s...