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Brits 'plan to die indebted'

18 September 2006
Pensioners in the UK are continuing to get further in debt in the knowledge that they may well die before they can repay it, according to a new report.

The findings of the study revealed that a quarter of respondents had outstanding debts that they were not planning on paying off.

A trend for increasing overall debt, through products such as debt consolidation loans, was identified by the report – which is thought to be the result of an ageing 1960s-70s 'consumer generation'.

Head of customer propositions at Sesame Alastair Conway said: "People have to take control of their finances in the lead up to retirement and beyond, if we are to avoid adding to the UK's mounting debt crisis.

"This is because the ability of retired people to recover from bad financial decisions is more limited," he explained.

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